Solana Leads with 28.18 Million Active Addresses as Ethereum Tops Growth and BNB Chain Dominates DEX Trading Volume
As of July 27, 2024, Solana leads with 28.18 million active addresses, while Ethereum shows the highest growth at 8.7%, and BNB Chain dominates DEX trading volume with $3.93 billion in the past 24 hours.
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Solana tops active address count with 28.18 million in the last 7 days.
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Ethereum’s active addresses grew by 8.7%, the highest increase among major chains.
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BNB Chain leads decentralized exchange trading volume at $3.93 billion in 24 hours, according to defillama data.
Top public chains July 2024: Solana leads active addresses, Ethereum shows strongest growth, BNB Chain dominates DEX volume. Stay informed with COINOTAG.
Which Public Chains Lead in Active Addresses in July 2024?
According to Nansen data from July 27, 2024, Solana ranks highest with 28.18 million active addresses over the past week. Other notable chains include BNB Chain with 10.14 million and Base at 7.08 million active addresses. Ethereum’s active addresses increased by 8.7%, marking the strongest growth rate among all chains, while Solana saw a 1.9% rise.
How Does Ethereum’s Growth Compare to Other Chains?
Ethereum’s 8.7% increase in active addresses contrasts with the overall market trend, positioning it as the fastest-growing network in user engagement. This growth is significant given Ethereum’s current base of 2.50 million active addresses, surpassing Bitcoin’s 2.80 million and Aptos’s 2.89 million. COINOTAG experts highlight this as a sign of renewed developer and user interest in Ethereum’s ecosystem.
What Are the Leading Chains by DEX Trading Volume?
Defillama data reveals that BNB Chain leads DEX trading volume with $3.93 billion in the past 24 hours, followed by Ethereum at $2.34 billion and Solana at $1.796 billion. Base and Sui chains also show strong activity, with $1.16 billion and $530 million respectively. These figures reflect robust decentralized finance activity across multiple ecosystems.
What Does This Data Indicate About Market Trends?
The dominance of BNB Chain in DEX volume suggests high liquidity and user trust in its decentralized exchanges. Ethereum’s substantial volume reinforces its position as a DeFi hub, while Solana’s active addresses and trading volume indicate sustained user engagement. COINOTAG analysts note that these metrics are crucial for investors assessing network vitality and DeFi opportunities.
| Public Chain | Active Addresses (7 days) | DEX Trading Volume (24h) |
|---|---|---|
| Solana | 28.18 million | $1.796 billion |
| BNB Chain | 10.14 million | $3.93 billion |
| Ethereum | 2.50 million (8.7% growth) | $2.34 billion |
| Base | 7.08 million | $1.16 billion |
What Factors Drive Active Address Growth on Ethereum?
Ethereum’s growth in active addresses is driven by increased DeFi activity, NFT launches, and upgrades enhancing scalability. The network’s transition to more efficient consensus mechanisms has also attracted developers and users, contributing to the 8.7% rise despite broader market fluctuations.
How Are Other Chains Responding to Market Dynamics?
Chains like Solana and Base maintain strong user bases through fast transaction speeds and low fees. TRON and Sei also show steady engagement, while newer entrants like Aptos gain traction by focusing on developer-friendly environments. COINOTAG reports that these trends reflect a diversifying blockchain ecosystem.
Frequently Asked Questions
How many active addresses does Solana have in July 2024?
Solana has 28.18 million active addresses over the past 7 days, making it the most active public chain by user count.
Which chain leads in decentralized exchange trading volume?
BNB Chain leads with $3.93 billion in DEX trading volume within the last 24 hours, reflecting strong liquidity and user activity.
Key Takeaways
- Solana leads active addresses: 28.18 million users in the past week.
- Ethereum shows strongest growth: 8.7% increase in active addresses.
- BNB Chain dominates DEX volume: $3.93 billion traded in 24 hours.
Conclusion
The latest data highlights Solana’s dominance in active addresses and BNB Chain’s leadership in DEX trading volume, while Ethereum’s notable growth signals a revitalized ecosystem. These trends underscore the dynamic nature of blockchain networks and their evolving user engagement, offering valuable insights for investors and developers alike.
