- Santiment released a list of cryptocurrencies with the highest daily active addresses.
- Bitcoin takes the lead in daily active addresses.
- Tether shows high usage across different networks.
Get insights into the cryptocurrencies with the most daily active addresses, with Bitcoin leading the pack and Tether showing high usage across different networks.
Unveiling the Most Active Cryptocurrencies
When it comes to cryptocurrencies, there’s more to them than just price movements, market value, and tokenomics. These innovative technologies, which fuel a trillion-dollar market, should ideally be used by people to solve real-world problems. In this context, tracking Santiment’s Daily Active Addresses (DAA) metric can help discover which projects are actually being used and to what extent. According to the platform, DAA measures the number of unique addresses involved in all transactions for each crypto network on a daily basis.
Top 10 Cryptocurrencies by Daily Active Addresses
Upon examining the data from Santiment, the top 10 cryptocurrencies with the most daily active addresses in the last 30 days were identified. Here are the findings:
- Bitcoin (BTC): 965,990 DAA in a month;
- Tether (USDT) on BNB Chain: 664,170 DAA in a month;
- Ethereum (ETH): 395,130 DAA in a month;
- Polygon (MATIC): 238,030 DAA in a month;
- Litecoin (LTC): 236,870 DAA in a month;
- Tether (USDT) on Polygon network: 106,640 DAA in a month;
- Worldcoin (WLD) on Optimism: 78,480 DAA in a month;
- Binance USD (BUSD) on BNB Chain network: 77,190 DAA in a month;
- Bitcoin Cash (BCH): 73,480 DAA in a month;
- Tether (USDT) on Ethereum network: 73,190 DAA in a month.
Analysis of the Top 10 Most Used Cryptocurrencies
Bitcoin emerged as the dominant cryptocurrency and network in daily active addresses over the past 30 days. This is generally expected from the leading cryptocurrency by market value. Interestingly, Ethereum, the second-largest cryptocurrency by market value, was neither the second most used token nor the most used network among other cryptocurrencies.
Tether (USDT) found its place in the top 10 three times through different networks. BNB Chain was the favorite of USDT users, followed by Polygon and then Ethereum. Polygon’s token is among the top 5 cryptocurrencies with the highest DAA.
It’s noteworthy that stablecoins, along with ETH and MATIC, are among the most used coins and networks, with projects focusing on peer-to-peer cash. Direct competitors to Bitcoin’s use case are considered to be Litecoin and Bitcoin Cash.
Conclusion
Understanding the daily active addresses of cryptocurrencies can provide valuable insights into their real-world usage. Bitcoin’s dominance in this aspect is a testament to its widespread adoption, while the presence of Tether across multiple networks underscores its versatility. As the crypto space continues to evolve, tracking these metrics will be crucial in identifying emerging trends and opportunities.
