As a seasoned analyst with years of experience in the ever-evolving world of cryptocurrencies, I find the recent data from IntoTheBlock intriguing and insightful. The daily active address counts for these major digital assets offer a fascinating glimpse into the vibrancy of these networks.
According to a study conducted by market intelligence platform IntoTheBlock, they’ve determined the count of daily active users for significant cryptocurrencies. This figure provides valuable information about the level of user interaction happening within these networks.
Based on findings from IntoTheBlock, the cryptocurrencies in question encompass prominent altcoins such as Solana (SOL), humorous digital currencies like Dogecoin (DOGE), and the most significant among them, Bitcoin (BTC).
Solana Tops the List
Leading the pack is Solana, boasting a daily count of 3.04 million active addresses. This year, its network has been a hot topic in many conversations and trends, most notably the meme coin craze that brought in a surge of users. The chain has welcomed fresh protocols, such as Pump.Fun, which has elevated meme coin trading to unprecedented heights on Solana’s network. Additionally, the debut of SOL liquid staking has drawn new investors towards Solana.
The second digital currency is Toncoin (TON), the indigenous token associated with The Open Network, which is connected to the well-known messaging platform Telegram for social media. The surge in daily active addresses for The Open Network may be attributed to the increasing popularity of mini-applications and games on Telegram. Currently, TON boasts a daily active address count of approximately 2.89 million.
Following closely is Tron (TRX), boasting an impressive count of about 2.5 million addresses. This surge can be attributed to increasing usage of stablecoins, network activities, and the introduction of SunPump, a new platform on the blockchain that allows for the creation of meme coins, leading to the launch of numerous tokens within a single month. Two weeks ago, IntoTheBlock reported a remarkable 237% increase in long-term Tron address holders over the past year.
Subsequently, we have Dogs (DOGS), an entertaining coin based on The Open Network, which was distributed as a large-scale airdrop to Telegram users. After its debut in July, DOGS quickly gained attention and has since become a popular choice among meme coin enthusiasts within the crypto community. On average, there are approximately 809,810 active addresses using this token daily.
Bitcoin Comes Fifth
Approximately 779,650 daily active addresses currently use Bitcoin, making it one of the top five most actively used digital asset networks. Beyond its status as a leading digital currency, the Bitcoin blockchain has experienced substantial growth in recent periods. This growth is evident in the introduction of the BRC-20 token standard and the approval of spot Bitcoin exchange-traded funds, both of which have contributed to increased network activity as a result of an influx of new users.
Speaking of Bitcoin’s counterpart, Ethereum (ETH), it boasts approximately 417,000 daily active addresses in use. Despite Ethereum becoming deflationary, there are still a multitude of applications within the Ethereum network that continue to attract users.
Here are the top four cryptocurrencies, based on daily active addresses, in this order: Litecoin (LTC), Algorand (ALGO), DOGE, and Avalanche (AVAX). The respective counts for each are approximately 316,640 for Litecoin, around 79,850 for Algorand, about 44,190 for DOGE, and close to 43,760 for Avalanche.
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2024-09-29 21:22