BNB Chain had over 10M active addresses in April; Ethereum had 4.9M
Polyhedra Network, LayerZero Labs, and Stargate Finance are pulling most of the new users on the BNB chain.
BNB chain had 10.9 million active addresses in April — the highest, despite an 11% drop from March, data from on-chain analytics platform Nansen shows.
Solana (SOL) was a distant second with 5.1 million active addresses last month — less than half the number of active addresses on the BNB chain. Active addresses on Solana fell by 12% in April compared to the previous month, the data show.
Ethereum (ETH) had 4.9 million active addresses in April — down 7.9% from March. Polygon (MATIC) and Arbitrum (ARB) both saw the number of active addresses climb last month. Polygon had 4.2 million and Arbitrum had 2.4 million active wallets last month — up 6% and 7.8% from March, respectively.
But it was Avalanche (AVAX), Celo, and Optimism that recorded the biggest growths in active addresses last month, according to Nansen data. Active addresses on Avalanche and Celo grew by 87% and 46% respectively, while Optimism saw a growth of 36% compared to March.
Diving deeper on-chain
On the BNB chain, three platforms saw their number of users grow significantly last month. Users on the Polyhedra Network — which provides Web 3.0 infrastructure — increased phenomenally by over 4,000,000% in April.
Meanwhile, blockchain interoperability provider LayerZero Labs, and Stargate saw their number of users jump by 471% and 375%, respectively.
On Solana, Nansen data shows new users are flocking to the decentralized exchange Orca, lifestyle app STEPN — which pays users to exercise — the automated market maker and liquidity provider Raydium protocol, and liquidity aggregator Jupiter Exchange.
With the recent success of Pepe meme coins, it’s unsurprising that the token’s users increased by over 213,000% in April, giving Ethereum a boost.
On Polygon, stablecoins Tether (USDT) and USD Coin (USDC) continue to play a huge role while Stargate and Galxe are pulling crowds.
Lastly, in Arbitrum, users of the non-fungible token (NFT) marketplace OpenSea grew by 619% last month. Decentralized exchange (DEX) Arbswap’s users grew by 608% and DEX aggregator Odos protocol saw its users increase by 516% over the last month, according to Nansen data.