The crypto market has seen a major decline in recent weeks. The main cryptocurrencies in the crypto market showed a strong decline. In contrast, several cryptocurrencies showed the highest address activity, according to Santiment.
On August 25, crypto market analyst Santiment announced the top ten assets by highest address activity. Bitcoin (BTC), Tether (USDT), Ethereum (ETH), Polygon (MATIC) and Litecoin (LTC) have more than double the active exposure of other assets. Bitcoin, the world’s largest cryptocurrency, leads the table with 963,64,000 active addresses.
An address is considered active as soon as it becomes a direct participant in a successful transaction either as a sender or recipient. As a result, active addresses are a good indicator of the daily users of each blockchain.
Tether shows high address activity on multiple blockchains
According to data, stablecoin Tether is second only to Bitcoin in the BNB chain with 664,06,000 active addresses. And the leading altcoin Ethereum also secures the third place with 394,97,000 active addresses. Next came MATIC and Litecoin securing the next top spot at 237.99k and 236.69k.
Recently launched Worldcoin (WLD) was also in the top 10 along with Tether on the Polygon blockchain, Binance USD on BNB, Bitcoin Cash and again Tether on the Ethereum blockchain. The data clearly shows that stablecoin activity is growing due to Tether’s high address activity on multiple blockchains. However, the crypto market is still in a slump and Bitcoin is trading around $26,000. After BTC, the most popular altcoins in the crypto market also show a similar pattern. At the time of writing, Bitcoin is trading at $26,036, down 1.65% in the last 24 hours. According to CoinMarketCap, BTC’s daily trading volume fell by 21.84 percent.