![How did Polkadot [DOT] fare in Q1 2023? Here’s everything you need to know](https://i.headtopics.com/images/2023/4/22/cryptoamb/how-did-polkadot-dot-fare-in-q1-2023-here-s-everyt-how-did-polkadot-dot-fare-in-q1-2023-here-s-everyt-1649844265537748993.webp)
Messari published a detailed report on the performance of Polkadot ecosystem in the first quarter (Q1) of 2023. These were its highlights...
As far as financials are concerned, Polkadot noted a steady run in Q1 of 2023 – With a 51% quarter-on-quarter increase in market cap and a 28% QoQ revenue growth.
The report also underlined the growing adoption of the cross-consensus message format as the number of XCM channels increased 60% QoQ. XCM, introduced in May 2022, greatly aided Polkadot’s interoperability with parachains and other consensus-driven systems.The total number of parachains hit 41, with six new additions in Q1. However, Polkadot’s parachain slot auctions registered a sustained decline in total DOT bonded.
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