Nansen, a blockchain data analytics platform, has recently released its findings on on-chain activity for various EVM blockchains in April 2023. According to their data, Avalanche, Celo, and Optimism showed the highest percentage increase in active addresses during the month.
Nansen’s data is available to the public, and users can view the on-chain activity of various entities in different ecosystems. For instance, the platform identified PolyhedraZK, LayerZero, and Stargate Finance as the top entities in terms of active address growth on the BNB Smart Chain (BSC). On Solana, Mad Lads emerged as the leading NFT platform, while Orca, Stepn, Raydium Protocol, Jupiter Exchange, and Drift Protocol attracted the most active users.
On Ethereum, Nansen found that memecoins, such as PEPE, saw a huge increase in on-chain users. ConsenSys and Base also experienced a significant boost in activity during the month. Stablecoins continued to play a vital role in the Polygon ecosystem, while dapps like XEN, Stargate Finance, and Galxe led on-chain activity.
The Arbitrum ecosystem also witnessed substantial growth, with OpenSea, Arbswap, odos protocol, WOOFi, and Camelot attracting a large number of users. Interestingly, Nansen also identified over 1,350 “smart money” users on Camelot in Arbitrum.
Nansen’s data highlights the importance of on-chain activity in determining the success of blockchain ecosystems. It also provides valuable insights into the top entities and platforms in different ecosystems. As we move into May 2023, it will be interesting to see if these trends continue or if there will be new players in the space.
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