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

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.

In March, 6 blockchains had more than one million active addresses*:

BNB Chain: 13.3M
Solana (Wallets): 5.8M
Ethereum: 5.2M
Polygon: 3.9M
Arbitrum: 2.2M
Fantom: 1M

*Addresses that have executed a transaction. pic.twitter.com/DUFGR6ByWT

— Nansen 🧭 (@nansen_ai) April 3, 2023

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.

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.