Blockchain
According to recent research, the Binance BNB Chain has the highest number of active crypto addresses with more than double the number of the next closest blockchain.
According to on-chain analytics platform Nansen, BNB Chain had the most active addresses in April with 10.9 million.
In addition, the Binance blockchain had more than double the activity of its closest two rivals, Solana and Ethereum. However, the number of active addresses for BNB Chain was down 11% from the previous month.
Nansen reported that Solana was second with 5.1 million active addresses but down 12% in March. Ethereum came in a close third with 4.9 million active addresses and a 7.9% drop from the previous month.
Monthly active addresses per chain – Nansen
BNB chain strengthened by PolyHedra
Nansen added that the top entities in terms of BNB Chain active address growth were Polyhedra Network, Layer Zero and Stargate Finance.
According to the Nansen dashboard, Polyhedra had a 4 million percent increase in active addresses in April. Polyhedra is a zk-proof infrastructure network for scalable Web3 interoperability. It launched zkBridge to mainnet on BNB Chain, Ethereum, and Arbitrum in early April.
The Layer Zero protocol and the Stargate DeFi platform had gains of 471% and 375% respectively on BNB Chain.
It said the Mad Lads NFT project drove active address growth on Solana. However, the Nansen dashboard showed most of the activity and entities on Solana as “unknown”, and activity has dropped since the collapse of FTX.
According to Nansen, the PEPE memecoin was responsible for Ethereum’s active address increase with a 213,071% change.
Polygon, fourth with 4.2 million active addresses in April, was dominated by stablecoin activity.
In terms of active address gains, Avalanche topped the list with an 87% increase. However, monthly active addresses were well below BNB Chain and Ethereum at 634,880.
Multichain Activity – Nansen
It should be noted that it is possible that bot activity is a large part of this active address metric.
Activity increases
According to the BNB Chain scanner, the total number of active BEP-20 addresses on May 2 was 1.67 million. Bscscan also reported that this metric is up 64% since the start of the year.
Active BEP-20 Addresses – Bscscan
The tracker also reports that 4 million daily smart contract transactions are currently taking place on BNB Chain. This is an 80% increase since the beginning of the year, but a 75% decrease from the peak.
The daily Binance BEP-20 token transfer figure peaked at 7.2 million on May 2. According to Bscscan, there are currently 1.3 million active smart contract addresses.
In addition, BNB prices are tied on the day at $323, according to data from BeInCrypto.
