Daily Active Users (DAU) figures are a key indicator for assessing the popularity of a blockchain and its investment potential. Let’s analyze which blockchains have the highest number of daily active users.
1. Tron: 1,637,200 daily active users
Tron is a public blockchain created in 2017 by Justin Sun, as an alternative to Ethereum specifically for the Asian market. Currently, it is the 10th largest channel with a market capitalization of over $7.5 billion. Indeed, Tron’s support for decentralized applications (dapps) makes it one of the largest ecosystems in decentralized finance (DeFi). Additionally, its dapps represent more than 15% of the total value locked in DeFi.
2. BNB Chain: 1,095,483 daily active users
BNB Chain, formerly known as BNB Smart Chain, is another blockchain ecosystem seeing rapid growth in the DeFi space. Created by the global cryptocurrency exchange Binance, it offers an architecture called “sharding”. This divides the network infrastructure into several parts to manage transactions more efficiently.
3. NEAR: Number of daily active users not available
NEAR only has around 200 decentralized applications (dapps). However, it experienced a sudden increase in DAUs towards the end of August, becoming one of the most used blockchains. Indeed, the reason for this growth is generally attributed to the partnerships and transactions that NEAR would have quietly carried out. Furthermore, there is no hard evidence to support this hypothesis.
4. Ethereum: between 300,000 and 400,000 daily active users
Ethereum is a well-established network that has dominated the blockchain space for years. But its number of DAUs remains relatively stable in the 300,000 to 400,000 range over the past year. However, due to its vast ecosystem and liquidity, Ethereum’s DAU numbers no longer correlate strongly with other market indicators.
5. Bitcoin: 720,355 daily active users
Bitcoin, the largest and oldest cryptocurrency, has a blockchain designed exclusively for its native currency, BTC. But the number of daily active users on Bitcoin does not have a strong relationship with other indicators. In addition, sudden variations in this figure can influence the fees and income generated on the platform.
The challenges of DAUs for blockchains
A high number of daily active users is beneficial for any blockchain network. Indeed, such a situation indicates a greater number of users boosting the ecosystem. Thus, this allows for potential growth and wealth generation. To address Ethereum’s scalability issues, solutions such as Starknet, Polygon, Arbitrum and Optimism have emerged, offering lower transaction costs.
However, it should be noted that DAUs may not be perfectly accurate. Indeed, a user can have several wallet addresses, which opens the door to manipulation. Nevertheless, they remain an important indicator of the popularity and resilience of a blockchain project, conducive to innovation and growth.
When evaluating DeFi projects, investors should carefully consider daily active user numbers. This makes it possible to identify promising investment opportunities, or to identify projects that lack support and have a small user base:
- Tron – 1,637,200 DAU
- BNB Chain – 1,095,483 DAU
- NEAR – N/A
- Ethereum – 300,000 to 400,000 DAU
- Bitcoin – 720,355 DAU
DAUs reflect the dynamism of a blockchain project and offer valuable insights for cryptocurrency investors.
