Active Addresses on Polygon Grows Massively, Terra (Luna) Leads Social Engagements.
There has been increased user activity on several layer-1 and layer-2 chains, including Polygon (MATIC), following the rising interest in cryptocurrencies that have bolstered the total market valuation.
Active addresses on Polygon have surpassed one million in the last seven days, suggesting a rising interest in assets and protocols based on the Ethereum layer-2 scaling platform.
At the time of writing this line, a total of 1.01 million addresses have been recorded across various projects affiliated with the Polygon network.
(1/11) Last week, the number of active addresses on these L1/L2s are:#BSC 3.84M📈#Ethereum 2.17M#Polygon 1.0M📈#Ronin 774K#Avalanche 253K#Fantom 179K📈#Terra 140K#Arbitrum 49.4K📈#Celo 43.8K📈#Optimism 13.3K📈
Find out the top entities/projects on these chains 🧵👇 pic.twitter.com/OxikU3w3X8
— NansΞn🧭 (@nansen_ai) March 29, 2022
Of the 1.01 million addresses recorded on Polygon either as a recipient or a sender in the past week, a total of 357,000 unique addresses conducted different transactions on the Ethereum L2 scaling platform in one day.
Top 3 Polygon Users by Entity
According to data on crypto analytics platform Nansen, the top three entities that these active Polygon addresses interacted with in the last seven days include Tower (TOWER) cryptocurrency, Binance exchange, and play-to-earn (P2E) horse racing game Pegaxy.
Notably, 170,313 addresses interacted with the Tower Token (TOWER), while 72,602 and 71,560 addresses were active on Binance and Pegaxy.
Other Networks’ Activities
Polygon is not the only network that has recorded a surge inactive addresses. Other blockchains like Binance Smart Chain (BSC), Ethereum, Ronin, Avalanche, Fantom, Terra, Arbitrum, Celo, as well as Optimism, also reported a huge volume in the number of active addresses recorded last week.
Binance led the ranking with a total of 3.84 million addresses, followed by Ethereum, which had 2.17 million active addresses in the past week.
Terra Social Engagement Spikes
While Terra (LUNA) managed a meager amount of 140,000 active addresses in the past week, the cryptocurrency recorded a significant milestone in its social engagement in the last 90 days compared to other coins.
Data from @LunarCrush shows us the Social Engagement Growth Rate of top blockchain platforms over the past 90 days 📊
— Fantom Insider (@fantom_insider) March 29, 2022
Over the last 90 days, Terra cryptocurrency social engagement grew by 24.8%, ranking second in the list just behind Fantom (FTM) and it is followed closely by Polygon (MATIC), which surged 12.5% within this period.