Solana Sees Growth In Active Network Addresses
The cryptocurrency market saw a notable increase in active addresses in May, according to on-chain monitoring company Nansen. According to Nansen, May was a fantastic month for cryptocurrency growth. It happened as the number of active addresses reached a record high in May, with double-digit growth seen in the number of active addresses for numerous chains.
Nansen looks at the increase of active addresses for the most important blockchains. With 9.5 million more active addresses than the next closest competitor, Solana took the lead. The Solana blockchain has seen a considerable rise in active addresses thanks to the Orca, Stepn, and Raydium protocols.
BNB is still one of the ecosystem’s chains with the highest activity levels. PancakeSwap was the most frequently utilised entity on BNB outside of Binance in May. According to Nansen, over 11 million transactions were completed by TRON addresses on May 31 in a single day, while over 15 million USDT transfers were done during the previous seven days.
(With inputs from Shikha Singh)
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