Monthly Active Addresses Surge as Crypto Market Shifts Focus

The cryptocurrency market is undergoing a significant transformation as it shifts its focus from Total Value Locked (TVL) to Monthly Active Addresses (MAA). This change reflects a growing emphasis on actual transactions and retail adoption.

Data from Phoenix Group indicates that BNB Chain continues to dominate the market with over 40 million monthly active addresses. Solana, on the other hand, has seen significant growth with over 23.7 million MAA and a unique daily user count of 3.2 million.

Meanwhile, Ethereum's mainnet has approximately 10.3 million monthly active addresses, but its Layer-2 solutions are becoming increasingly popular. Base, a pivotal advancement from Ethereum, is securing a spot in the top 10 for MAA usage with around 5 million MAAs.