Ethereum Rival Far Outpacing Other Crypto Platforms in Number of Daily Transactions: Analytics Firm

Ethereum Rival Far Outpacing Other Crypto Platforms in Number of Daily Transactions: Analytics Firm

Alt coin
April 12, 2023 by secret
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A prominent analytics firm says one of Ethereum’s (ETH) biggest rivals is way ahead of the blockchain pack in one key on-chain metric. Messari says that smart contract platform Solana (SOL) remains the top protocol among emerging ecosystems in terms of daily transaction count. A chart from the analytics firm shows that late last month,
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A prominent analytics firm says one of Ethereum’s (ETH) biggest rivals is way ahead of the blockchain pack in one key on-chain metric.

Messari says that smart contract platform Solana (SOL) remains the top protocol among emerging ecosystems in terms of daily transaction count.

A chart from the analytics firm shows that late last month, SOL was processing close to 40 million transactions per day, while layer-2 protocols such as Arbitrum (ARB), Polygon (MATIC) and Optimism (OP) were witnessing less than 5 million daily transactions.

“Without incentives, Solana still maintains a distinct lead in terms of daily transactions, though Arbitrum seems to be closing that gap – even post-airdrop. Optimism’s flat numbers stand out, considering the constant presence of incentives throughout that ecosystem.”

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Source: Messari/Twitter

At time of writing, SOL is trading for $20.88, up over 2% in the last 24 hours.

The crypto analytics firm is also keeping an eye on the user base growth of BNB Chain (BNB), the smart contract protocol developed by crypto exchange Binance. According to Messari, BNB Chain is outpacing leading smart contract platform Ethereum in terms of onboarding new users on a month-to-month basis.

“Ethereum and BNB Chain have two of the largest user bases in crypto, with 226 million and 274 million cumulative unique users, respectively.

While BNB Chain onboarded users at an average month-on-month rate of 6% throughout the last 12 months, Ethereum’s has fallen at an average of 5%.” 

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Source: Messari/Twitter

At time of writing, BNB is worth $317.20, up over 1% in the past day.

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