finbold.com
Cryptocurrencies are more than just price action, market capitalization, and tokenomics. Such innovative technology, moving a trillion-dollar market, is actually meant to be used by people, in order to solve real-world problems.
In this context, watching the Daily Active Addresses (DAA) metric by Santiment can help discover which projects are really been used, and by what amount. According to the platform’s description, DAA measures the number of unique addresses involved in all transactions for each crypto network on a daily basis.
Finbold checked this data on the Santiment, retrieving the top 10 cryptocurrencies with the most daily active addresses in the last 30 days. Here is what we found out:
- Bitcoin (BTC): 965,990 DDA in one month;
- Tether (USDT), on BNB Chain: 664,170 DDA in one month;
- Ethereum (ETH): 395,130 DDA in one month;
- Polygon (MATIC): 238,030 DDA in one month;
- Litecoin (LTC): 236,870 DDA in one month;
- Tether (USDT), on Polygon: 106,640 DDA in one month;
- Worldcoin (WLD), on Optimism: 78,480 DDA in one month;
- Binance USD (BUSD), on BNB Chain: 77,190 DDA in one month;
- Bitcoin Cash (BCH): 73,480 DDA in one month;
- Tether (USDT), on Ethereum: 73,190 DDA in one month.
Conclusion of the top 10 most used crypto by DDA
Bitcoin is, by far, the dominant crypto and network in daily active addresses in the last 30 days. Which was expected from the leading cryptocurrency by market capitalization. Interestingly, Ethereum, the second biggest by market cap, is neither the second most used token nor the most used network among other tokens.
Tether (USDT) can be seen three times in the top 10, through different networks. BNB Chain is the favorite for USDT users, followed by Polygon, then Ethereum. Polygon’s token is among the top 5 currencies with the highest DDA.
Notably, besides stablecoins, ETH, and MATIC, the most used coins and networks are from projects focused to be peer-to-peer cash. Direct competitors to Bitcoin’s use case: Litecoin and Bitcoin Cash.