On-Chain Activity Is Drying Up Across Major L1s
On-chain activity across major chains is relatively low. Solana is the biggest loser, dropping from almost 32M active wallets in September 2024 during meme mania to about 1.7M now.
BNB has held up better, boosted by Aster hype and short-term meme interest, with around 941K active wallets.
Meanwhile, Base has shown solid performance recently, but with the current market conditions, activity on the chain is starting to fade, with only 437K wallets.
Polygon and Ethereum show little change over the past couple of months, sitting at 252K and 86K wallets respectively.
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