In April 2023, the BNB Chain, Solana, and Ethereum were the top three blockchains with the most on-chain active addresses, according to data from Nansen, a blockchain data and research firm. However, each of these blockchains saw a decline in the number of active addresses compared to the previous month. The BNB Chain had the most active addresses with 10.9 million, followed by Solana with 5.1 million and Ethereum with 4.9 million active addresses.
Polygon and Arbitrum were next on the list with 4.2 million and 2.4 million active addresses, respectively. Unlike the top three chains, Polygon and Arbitrum saw an increase in the number of active addresses in April, with a 6% and 7.8% increase, respectively. Avalanche, Celo, and Optimism also saw the highest percentage increases in active addresses among the Ethereum Virtual Machine (EVM) supported blockchains.
Nansen’s data also revealed that Polyhedra Network, LayerZero Labs, and Stargate Finance had over a 300% increase in user change on the BNB Chain. On the Solana blockchain, Mad Lads NFT, Orca, STEPN, Raydium, Jupiter Exchange, and Drift Protocol contributed to the increased activity. This level of activity on these platforms suggests that Solana could be in the early stages of a resurgence.
PepeCoin was the most notable development on the Ethereum blockchain, leading the recent surge in on-chain activity. Its increased adoption and level of awareness generated in just two weeks contributed to the significant increase in PEPE users. ConsenSys and Base were also responsible for the on-chain activity on Ethereum, with both experiencing boosts in on-chain activity in April.
While these blockchains are currently leading in on-chain active addresses, it’s important to note that the cryptocurrency market is highly volatile and subject to rapid changes. It will be interesting to see how these blockchains perform in the coming months and whether any new players will emerge in the space.