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.
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
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.
FAQs
Solana Surpasses Ethereum in User Activity Amidst Surge in Memecoins like 'Book of Meme' The Solana network experienced a surge in activity over the weekend, surpassing Ethereum in total trading volume. However, the network struggled to keep up with the influx, leading to frequent transaction failures and delays.
What is the difference between Ethereum and Solana address? ›
Ethereum has low speed and scalability, but several times more TVL (the amount of funds locked in the blockchain). Solana has a more advanced consensus algorithm that provides faster network speeds. Stability, decentralization, and almost complete trust from the community, investors, and developers.
Does Solana have more transactions than Ethereum? ›
Solana boasts a significant advantage in transaction speed. Ethereum's current Proof-of-Work (PoW) model limits its capacity to around 15 transactions per second. Solana, on the other hand, can process thousands of transactions per second, making it substantially faster.
How many active addresses does Ethereum have? ›
Ethereum Daily Active Addresses is at a current level of 512527.0, up from 490262.0 yesterday and up from 374962.0 one year ago. This is a change of 4.54% from yesterday and 36.69% from one year ago.
How much will 1 Solana be worth in 2030? ›
Solana (SOL) Price Prediction 2030
| Year | Price |
|---|
| 2025 | $ 152.50 |
| 2026 | $ 160.12 |
| 2027 | $ 168.13 |
| 2030 | $ 194.63 |
1 more rowUnlike Polygon, which relies upon the Ethereum ecosystem, Solana is a standalone blockchain platform.
What are the cons of Solana? ›
CON: Network Outages
Solana has experienced occasional network outages and disruptions, which have raised concerns about its reliability and stability. These outages can result in delays, disruptions, and potential financial losses for users and applications relying on the platform.
Is Solana Ethereum killer? ›
Solana has often been touted as a so-called Ethereum-killer for having superior transaction throughput and faster transaction finality than Ethereum.
Why is there SOL over ETH? ›
Solana Strengths Compared to Ethereum
Currently, Ethereum processes around 15 transactions per second. Meanwhile, Solana processes more than 2,600 transactions per second due to its unique consensus mechanism. This speed advantage leads to lower fees and better user-experience for apps built on Solana.
Is Solana the most active blockchain? ›
Solana has been declared the most popular blockchain so far in 2024, according to CoinGecko Research. Much of the networks recent activity has taken place on DEXs, with traders accumulating memecoins like Bonk and Slerf.
In simple terms, while blockchains like Bitcoin and Ethereum process transactions sequentially, Solana's architecture allows for multiple transactions to be processed simultaneously. This design helps prevent congestion in one part of the network from affecting overall network performance.
How many transactions does Solana do per day? ›
According to Nansen Research Manager Sandra Leow, "Solana-based transactions have increased from around 20 to 30 million daily transactions to approximately over 50 million at present."
What is full Ethereum address? ›
Externally Owned Address
An Ethereum address is a 42-character hexadecimal address derived from the last 20 bytes of the public key controlling the account with 0x appended in front. e.g., 0x71C7656EC7ab88b098defB751B7401B5f6d8976F.
Where are Ethereum addresses stored? ›
Addresses are stored in the EVM in a decentralized manner. This means that no single entity has control over the storage of addresses. This helps to ensure the security and reliability of the Ethereum network.
What are the different types of Ethereum addresses? ›
There are two types of addresses on the ethereum network: EOA addresses and contract addresses. Your ETH Pay Key address is controlled by a public and private key pair. This key can send and receive funds, and interact with smart contracts.
Can SOL beat Ethereum? ›
Solana retains dominance
As per the new VISA dashboard, Solana has recorded significantly more stablecoin transactions than any other blockchain, surpassing both Ethereum and other popular networks. In March 2024, Solana held a whopping 42.3% of the market share, compared to just 1.9% a year prior.
How high can Solana token go? ›
The Solana price prediction from CoinPedia suggests that Solana price could reach a maximum level of $200 per SOL in 2024. By 2025, Solana's price could add another $50, bringing it to $250 each SOL. Longer term, the digital asset could reach as high as $672.
Which coin will replace Ethereum? ›
Which is the next Ethereum? Some crypto analysts believe that Cardano, Solana, and Avalanche each make a great case as the next Ethereum. However, these smart contract platforms already have a multi-billion dollar market cap. As such, the newly founded project, Wall Street Memes, could be a better alternative.
How much will 1 Ethereum be worth in 2030? ›
By the end of 2030, the predicted Ethereum price could soar to a peak of $26,575.21. The current price of 1 Ethereum is $ 3,054.12341169.
