2024 L1 Recap Series:⛑️🔦 $DOT Edition! 🌐.... Alright frens, let’s talk DOT—and we’re starting with a confession: DOT isn’t exactly our favorite L1. 🙅♂️ You might’ve picked that up from our previous posts, but hey, we’re here for DOT’s fam today! 😋
Currently rocking a $11.4B market cap, #DOT sits in the 10th spot among L1s, recently bumped from 9th by HBAR (ouch, that stings!).
ROI check? DOT’s delivering a chilly -9.3% YTD, 📉 while others like $TRX and $TON are partying with triple-digit gains. DOT is trading at $7.4, which is a frosty 86% below its ATH—you’ll need a jacket out there! 🥶
The stats? 😤 Not exactly warm and fuzzy:
➡️ 5k daily users
➡️ 40k daily transactions
➡️ A grand total of $1k fees earned per day (yes, you read that right, just one thousand bucks). Meanwhile, L1 heavyweights like #SOL and TRX are swimming in millions.
#Polkadot boasts an ecosystem of 600+ projects and 1.3M DAO members—but financially? 🙉👉 DOT’s been on the struggle bus, losing $50M–$100M per month for a while now. 👁️ Oh, and don’t forget: 300k DOT tokens unlock daily. That’s been their financial lifeline for years. Spooky, huh? 👻
But hey, #polkadot2.0 could be their big glow-up. Maybe? Hopefully? Fingers crossed for DOT’s comeback arc! 🤞 DYOR and stay cautious!
