Despite overall market losses, there is strong demand for on-chain features in the crypto industry. Several Ethereum Virtual Machine (EVM)-compatible Layer 1 (L1) and Layer 2 (L2) chains are seeing an increase in new wallets, indicating a growing interest in on-chain activities. Binance Smart Chain (BNB) has emerged as a leader with 4 million active daily users, followed by Solana with 2.7 million. The Base network has experienced a significant influx of new wallet addresses, adding 2.8 million in the past week and a total of 30 million in February. L2 chains also continue to see engagement with over 9 million weekly active wallets, and decentralized trading remains robust even at lower Ethereum prices. Networks like Polygon, Ronin, and Avalanche have also seen new user inflows. The popularity of EVM-compatible chains can be attributed to the relatively low gas fees of Ethereum. Smaller chains are also seeing activity related to new token launches and decentralized exchange (DEX) trading. Base, Solana, Sonic, and Arbitrum are among the top networks for tokenization, and trading bot usage is growing on platforms like Solana, BNBChain, and Base.



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