BNB Chain, Solana, Ethereum Lead in On-Chain Activity

Leading Blockchains in On-Chain Activity

In April 2023, the BNB Chain, Solana, and Ethereum emerged as leaders in on-chain active addresses, according to data from a blockchain research firm. Despite topping the list, each experienced a decline compared to March, with BNB Chain recording 10.9 million active addresses, Solana 5.1 million, and Ethereum 4.9 million.

Emerging Activity on Polygon and Arbitrum

Polygon and Arbitrum followed closely with 4.2 million and 2.4 million active addresses, respectively. Unlike the top three, these blockchains saw an increase in active addresses by 6% and 7.8%. This growth indicates a rising interest and engagement within their ecosystems.

Boost in EVM-Supported Blockchains

Avalanche, Celo, and Optimism, among Ethereum Virtual Machine (EVM) supported blockchains, showed significant percentage increases in active addresses. These developments highlight the dynamic nature of blockchain engagement beyond the major players.

Notable Increases on BNB Chain and Solana

The BNB Chain saw significant user increases due to platforms like Polyhedra Network, LayerZero Labs, and Stargate Finance, each experiencing over 300% growth. On Solana, the Mad Lads NFT project, along with other platforms like Orca and STEPN, contributed to heightened activity, signaling a potential resurgence for Solana.

Surge in Ethereum Activity Driven by PepeCoin

Ethereum's notable increase in on-chain activity was primarily driven by PepeCoin, which gained considerable attention and adoption in a short span. This rise reflects the growing popularity and value of the meme coin, alongside activity boosts from projects like ConsenSys and Base.

Overall, these developments underscore the evolving landscape of blockchain technology, with varying factors influencing user engagement across different platforms.