Binance, Ethereum, and Other Records Increased Active Addresses Last Month.
Recent stats from cryptocurrency analytics platform Nansen suggest a growth in the number of active addresses across selected blockchains in January 2022.
Per the data, the number of unique active addresses on Binance Smart Chain (BSC) topped the list last month, with a volume of 10.4 million addresses.
The Changpeng Zhao (CZ) led blockchain project was followed by Ethereum, which recorded a total of 5.44 million in the number of unique active addresses.
In addition, active addresses on Ronin, Polygon, Avalanche, and Fantom hit 3.4 million, 2.36 million, 714,000, and 414,000, respectively.
Rising Interests in New BSC-based Tokens
The growth in the number of active addresses on the Binance Smart Chain can be attributed to users’ intention to participate in newly launched crypto projects on the network.
New cryptocurrencies are launched on Binance-based decentralized exchanges PancakeSwap and PooCoin, almost on a daily basis.
Although not all of these cryptocurrencies guarantee massive returns, some of these projects, like Baby DogeCoin (BabyDoge), have turned average income earners into overnight millionaires.
Ethereum Led by NFTs: Ethereum’s monthly active addresses surged above five million as a result of interest in non-fungible tokens (NFTs) and play-to-earn (P2E) games.
The NFT sector is considered among the hottest niches in the crypto sphere at the moment, with billions of dollars traded across various NFT marketplaces, including OpenSea.
Last month, Dune Analytics reported that OpenSea saw a record $4.95 billion in trading volume.
Crypto Market Crash Contributed: In general, the value of the entire cryptocurrency market has been on a free fall since last year, with nearly 50% of the total market capitalization wiped off since it peaked above $3 billion.
Many investors see the market crash as an opportunity to increase their crypto holdings by buying cryptocurrency assets from exchanges and transferring them to their external wallets, in anticipation of the bull season.