BNB Chain Dominates Crypto L1 Activity with 254% Surge

Crypto L1 activity has seen a significant surge, with BNB Chain leading the pack. According to data from Token Terminal, BNB Chain recorded 41.7 million monthly active addresses, accounting for 31.8% of activity across 40 Layer-1 blockchains.

Solana followed closely behind with 32.7 million addresses, while Tron, Bitcoin, and Ethereum recorded 18.9 million, 10.3 million, and 9 million respectively. However, Solana's monthly active addresses declined by 7.5% over the past 30 days.

The data also showed that BNB Chain's monthly active addresses rose 2.3% over the same period, while Tron increased by 0.4%, Bitcoin rose 8.3%, and Ethereum gained 7.5%. The surge in activity on BNB Chain may be attributed to low fees, with median costs frequently reported between $0.01 and $0.10.