Main navigation

Solana (SOL) Surpasses Ethereum (ETH) in Monthly Active Addresses: Details

Mon, 04/03/2023 - 14:59
article image
Tomiwabold Olajide
Ethereum (ETH) flipped by Solana (SOL) in monthly active addresses
Solana (SOL) Surpasses Ethereum (ETH) in Monthly Active Addresses: Details
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

According to blockchain analytics firm Nansen, six major blockchains had more than one million active addresses in March. The "addresses" in this context refer to those that have executed a transaction.

The six blockchains given are BNB Chain, Solana (wallets), Ethereum, Polygon, Arbitrum and Fantom.

The BNB chain led the pack in active addresses with 13.3 million users. Active wallets on the Solana network increased in March, outpacing other blockchains, including Ethereum.

Active wallets for Solana stood at 5.8 million, while Ethereum saw 5.2 million active addresses, ranking third after Solana. Blockchains Polygon, Arbitrum and Fantom saw active addresses of 3.9 million, 2.2 million and 1 million, respectively.

Nansen lists the entities contributing to the growth of active addresses seen for the blockchains mentioned.

Solana (SOL) Major NFT Project Completes 77% Migration to Polygon Blockchain

On the BNB Chain, Binance and PancakeSwap lead the way in terms of active users, but Web3 social projects like Space ID Protocol are also thriving. On Solana, Raydium Protocol, Stepn and Orca continue to lead the pack with the highest number of users.

Meanwhile, on Ethereum, over the last 30 days, zksync and StarkWare have experienced a staggering 1,322% and 805% increase in users, likely due to airdrop farmers bridging to other chains.

article image
About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.