Analysis of Top Cryptocurrencies by Daily Active Addresses
A recent analysis conducted by market intelligence platform IntoTheBlock has shed light on the number of daily active addresses for major cryptocurrencies, providing valuable insights into the level of user activity on these networks. The data gathered by IntoTheBlock highlights the daily active addresses of various crypto assets, including large-cap altcoins like Solana (SOL), meme coins like Dogecoin (DOGE), and the pioneering cryptocurrency Bitcoin (BTC).
Solana Takes the Lead
Topping the list of cryptocurrencies by daily active addresses is Solana, with an impressive count of 3.04 million active addresses. The Solana network has been a focal point of discussions and trends in the cryptocurrency space this year, particularly amidst the meme coin mania that has attracted a surge of new users. The blockchain has witnessed the emergence of new protocols like Pump.Fun, which have elevated meme coin trading on the network to new heights. Additionally, the introduction of SOL liquid staking has enticed a fresh wave of investors to Solana, contributing to its impressive daily active address count.
The second cryptocurrency on the list is Toncoin (TON), the native token of The Open Network associated with the popular social media messaging platform Telegram. TON has garnered a daily active address count of 2.89 million, driven by the growing popularity of mini-apps and games on Telegram.
Tron and Dogecoin Follow Suit
Tron (TRX) secures the third position with a daily active address count of 2.5 million. The growth in Tron’s active addresses can be attributed to the increasing stablecoin and network activity, as well as the launch of SunPump, a meme coin-creating platform that has facilitated the rapid deployment of thousands of tokens on the Tron blockchain. Notably, Tron’s long-term holder addresses have witnessed a remarkable 237% growth over the past year, as reported by IntoTheBlock.
Dogs (DOGS), a meme coin built on The Open Network, comes in fourth with 809,810 daily active addresses. Launched as a massive airdrop for Telegram users, DOGS gained significant attention following its unveiling in July and has since become a favorite among the crypto community for its meme coin attributes.
Bitcoin and Ethereum in the Mix
Bitcoin, the leading digital asset network, secures the fifth spot with 779,650 daily active addresses. Despite its established reputation, Bitcoin’s network has experienced notable developments in recent times, ranging from the introduction of the BRC-20 token standard to the approval of spot Bitcoin exchange-traded funds, reflecting the impact of an influx of new users on its network.
Following Bitcoin is ether (ETH), with approximately 417,000 daily active addresses. Despite Ethereum’s transition to a deflationary model, the platform continues to host applications that retain a significant user base.
The remaining cryptocurrencies with the highest daily active addresses are Litecoin (LTC), Algorand (ALGO), DOGE, and Avalanche (AVAX), with 316,640, 79,850, 44,190, and 43,760 counts, respectively.
In conclusion, the analysis of daily active addresses provides valuable insights into the level of user activity on various cryptocurrency networks, showcasing the diverse range of assets attracting significant attention and engagement within the crypto community.
