Binance Smart Chain Overtakes Ethereum, Polygon in Active Addresses

The total number of monthly active addresses on Binance Smart Chain (BSC) hits 10.4 million addresses surpassing even that of leading L1 blockchains including Ethereum, Polygon, and Fantom, according to the blockchain analytics platform Nansen. Ethereum recorded a total of 5.44 million unique active addresses, followed by Ronin at 3.4 million, Polygon at 2.36 million and Fantom at 414,000, respectively. At its peak in late November, daily transactions on BSC hit 1,345% of Ethereum’s. The number of addresses on Binance Smart Chain continues to grow at a rate unparalleled to all other blockchains and can be mostly attributed to users’ intention to participate in newly launched projects on the network. For instance, new cryptocurrencies are launched on Binance-based decentralized exchanges such as PancakeSwap and PooCoin, almost on a daily basis. While not all of them guarantee massive returns, some of the projects, like Baby DogeCoin (BabyDoge) have turned average income earners into overnight millionaires. 30-Day Active Addresses by Chain: BSC 10.4MEthereum 5.44MRonin 3.4MPolygon 2.36MAvalanche 714KFantom 414KCelo 111KArbitrum 66.8KOptimism 30.8K For the latest daily and weekly stats, check out our public multichain dashboards here: https://t.co/NzTGapVGS4 pic.twitter.com/9Df3xrnsU6 — NansΞn🧭 (@nansen_ai) February 1, 2022 Preferring BSC Over Ethereum Binance Smart Chain (BSC) made immense traction in early 2021 thanks to Ether...