The number of active addresses on the leading blockchain networks all saw impressive growth, with Binance Chain (20.4M), Polygon (17.5M), Fantom (16.3M), Solana (9.3M), Ethereum (7.6M), and Arbitrum (629K) all seeing significant increases in activity since the beginning of the year.
There are other ways to measure a network’s busyness than active addresses. By looking at the top entities on each network, we can get a better idea of who’s actively using blockchain and what they’re doing with it.
For example, Binance Chain’s top three entities for the last 30 days have been Binance, PancakeSwap, and Hooked. This indicates that users heavily use the Binance Chain to conduct trades and decentralized finance activities on the network.
Looking at transaction volume on Arbitrum, GMX had 94K users and 728K txs in the last 30 days, while Gains Network had 533K txs, a 7,916% increase from the previous 30D. This could indicate a trading contest being held by Gains Network.
Overall, it’s clear that the first month of 2023 has seen an explosion in on-chain activity across different networks. This is a testament to blockchain technology’s growing popularity and adoption worldwide. As more users join various blockchain ecosystems, we’ll see impressive growth in the next few months.
Conclusion
The on-chain activity seen in the first month of 2023 has been remarkable, with active addresses and transaction volumes increasing sharply across leading blockchain networks. By studying the top entities on each network, we can better understand what users are doing with their blockchain use. With more people joining various blockchain ecosystems,
this growth trend will likely continue in the months to come.
Disclaimer: This article is for informational purposes only and should not be considered financial or investment advice. All investments are subject to risk, and you should always perform your own research before investing in any project.
