- The crypto market sees a surge led by Bitcoin following a weak employment report from the US.
- Analysis firm CryptoRank identifies altcoin networks with the highest user count in April.
- Ethereum surprisingly ranks sixth despite being the largest in terms of market value.
Discover the altcoin networks that boasted the highest user count in April, with Ethereum surprisingly lagging behind. Understand the factors influencing these rankings in the crypto market.
Altcoin Networks with Highest User Count in April
Following a weak employment report from the US, the crypto market has seen a surge led by Bitcoin, which experienced a roughly 7% increase in the last 24 hours, trading at around $63,257 at the time of writing. Analysis firm CryptoRank has identified the altcoin networks with the highest user count in April. Here are the results:
- Tron (TRX) – 54.7 million
- Near (NEAR) – 53.8 million
- BNB (BNB) – 35.5 million
- Solana (SOL) – 35.2 million
- Polygon (MATIC) – 33.6 million
- Ethereum (ETH) 12 million
- Base – 10.7 million
- zkSync Era – 9.8 million
- Arbitrum (ARB) – 9.3 million
- Linea – 5.6 million
- Celo (CELO) – 4.9 million
- Optimism (OP) – 4.2 million
- Aptos (APT) – 3.2 million
- Scroll – 2.6 million
- Blast – 2.5 million
Ethereum’s Surprising Position
Ethereum, despite being the largest in terms of market value, only managed to secure the sixth position on the list. The relatively low user count of Ethereum is attributed to the high transaction fees required by the network.
Tron’s Dominance
On the other hand, Tron, which ranks first, is believed to have such a high user count due to a large portion of USDT stablecoin transfers taking place on the Tron network.
Conclusion
The crypto market continues to evolve with various altcoin networks vying for dominance. While Ethereum remains a major player, other networks like Tron are gaining traction due to lower transaction costs and high transfer volumes. As the market matures, it will be interesting to see how these dynamics shift.
