- The BNB Chain, Solana, and Ethereum had the most on-chain active addresses in April 2023.
- Nansen’s data shows the BNB Chain had 10.9 million active addresses in April.
- Increased on-chain activity suggests Solana could be in the early stages of a resurgence.
The BNB Chain, Solana, and Ethereum had the most on-chain active addresses in April 2023, according to data from Nansen, the blockchain data and research firm. Although these blockchains topped the list of active addresses for April, each recorded a drop in the number of such addresses compared to March.
Which chains had the most on-chain active addresses in April & how did they compare to March?BNB Chain: 10.9M (-11%)Solana: 5.1M (-12%)Ethereum: 4.9M (-7.9%)Polygon: 4.2M (+6%)Arbitrum: 2.4M (+7.8%)And what were these addresses doing?Let's take a look on-chain… pic.twitter.com/mjrBPgbmif— Nansen (@nansen_ai) May 3, 2023
According to Nansen’s data, the BNB Chain had 10.9 million active addresses in April. Solana recorded 5.1 million, while Ethereum had 4.9 million active addresses during the same period.
Following the top three blockchains are Polygon and Arbitrum, with 4.2 million and 2.4 million active addresses for April, respectively. However, unlike the top three chains, the number of active addresses on Polygon and Arbitrum increased by 6% and 7.8%, respectively.
Other than the on-chain top-performing addresses, Avalanche, Celo, and Optimism reflected the highest percentage increases in active addresses among the Ethereum Virtual Machine (EVM) supported blockchains.
The on-chain analytics platform also showed Polyhedra Network, LayerZero Labs, and Stargate Finance had over 300% increase in user change on the BNB Chain, while Mad Lads NFT caused a notable increase in activity on the Solana blockchain.
According to Nansen, other projects that contributed to the increased activity on Solana include Orca, STEPN, Raydium, Jupiter Exchange, and Drift Protocol. The level of activities on these platforms suggests Solana could be in the early stages of a resurgence.
A notable development on the Ethereum blockchain is that PepeCoin leads the recent surge in on-chain activity. That does not surprise most users, considering the increased adoption and the level of awareness the project has generated in just two weeks. The significant increase in PEPE users also reflects in the skyrocketing value of the newly created meme coin.
Other projects responsible for the on-chain activity on Ethereum include ConsenSys and Base, both of which individually experienced boosts in on-chain activity in April.
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