BNB Chain Dominates Active Addresses, Solidifying Its Leading Position Among Blockchains

Solana Trails Behind, Ethereum Sees a Decline, While Avalanche, Celo, and Optimism Experience Rapid Growth in Active Users

- Advertisement -

BNB Chain recorded 10.9 million active addresses in April, despite an 11% drop from March, according to data from on-chain analytics platform Nansen.

This performance ranks BNB Chain by far in 1st place as far as its usefulness is concerned, out of all Blockchains.

BNB Chain Dominates Active Addresses, Solidifying Its Leading Position Among Blockchains

Solana follows

Solana (SOL) was in 2nd place with 5.1 million active addresses last month, less than half the number of active addresses on BNB Chain. Active addresses at Solana decreased by 12% in April, compared to the previous month.

Ethereum third, growth for Polygon and Arbitrum

Ethereum (ETH) had 4.9 million active addresses in April, a performance that represents a 7.9% decrease from March.

Polygon (MATIC) and Arbitrum (ARB) saw the number of active addresses increase last month, as Polygon had 4.2 million and Arbitrum had 2.4 million active wallets, an increase of 6% and 7.8% respectively from March.

The largest increases

The blockchains of Avalanche (AVAX), Celo (CELO) and Optimism (OP) recorded the largest increases in active addresses in April, according to data from Nansen.

Active addresses on Avalanche and Celo increased by 87% and 46% respectively, while Optimism saw a 36% increase compared to March.

Performance within the chains

In terms of BNB Chain, three platforms saw their user numbers increase significantly in April.

Users on the Polyhedra Network, which provides Web 3.0 infrastructure, grew impressively by over 4,000,000% in April.

Blockchain interoperability provider, LayerZero Labs and Stargate saw their user numbers grow by 471% and 375% respectively.

At Solana, Nansen’s data showed that new users are using the decentralized exchange, Orca, the fitness app, STEPN (which pays users to exercise), the automated marketplace and liquidity delivery protocol, Raydium and the liquidity accumulator Jupiter Exchange.

With the recent success of the meme token, PEPE, it’s not surprising that users of the token grew by over 213,000% in April, giving Ethereum a boost.

On Polygon, the stablecoins Tether (USDT) and USD Coin (USDC) continue to play a huge role, while Stargate and Galxe are attracting users.

Finally, on Arbitrum, users of the NFT marketplace, OpenSea, grew by 619% last month, users of the decentralized exchange, Arbswap, grew by 608% and the decentralized exchange, Odos saw its users grow by 516% last month, according to data from Nansen.

READ NEXT

- Advertisement -
- Advertisement -
- Advertisement -

Latest

- Advertisement -

Must Read

Read Next
Recommended to you

BitNewsBot.com