BNB-Chain Surpasses Ethereum, Polygon in Unique Addresses Growth
The Key Points at a Glance
The BNB-Chain has recently achieved an impressive milestone by recording the highest number of unique addresses among all blockchains in the last 30 days. Despite a slight decrease in daily active addresses and a prevailing bearish sentiment in the market, the increase in daily transactions and the total value locked (TVL) in the blockchain shows that the BNB-Chain continues to play a leading role in the crypto world.
Unique Addresses as an Indicator of Growth
According to Coin98 Analytics, the BNB-Chain has taken the top spot with over 463 million unique addresses in the last 30 days, followed by Polygon (MATIC) and Ethereum (ETH). This increase in unique addresses, although only by 1% compared to the previous month, underscores the ongoing attractiveness and user confidence in the BNB-Chain.
Transactions and TVL in Focus
Despite a decline in daily active addresses, the BNB-Chain is seeing an increase in daily transactions. This suggests that users continue to be active on the platform and carry out transactions. The total value locked (TVL) in the blockchain has recently experienced a decline, but the increase in fees and revenues indicates a positive momentum.
Price Action and Market Sentiment
The price of BNB has seen a decline in recent days, leading to a dominant bearish sentiment in the market. Analysis from Coinglass also shows that the number of short positions has increased compared to long positions, which can be interpreted as a bearish signal. Despite these challenges, BNB is on the verge of testing a key support level, which could play a crucial role in future price development.
Our Assessment
With its recent milestone of unique addresses and the increase in daily transactions, the BNB-Chain proves its strength and vitality in the crypto landscape. Although the market is currently dominated by bears, the current situation also offers opportunities for the bulls to defend their position and possibly initiate a trend reversal. It remains exciting to observe how the BNB-Chain will continue to assert itself in this dynamic environment.
Sources: Coin98 Analytics, Artemis, Santiment, Coinglass, TradingView
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