Blockchain

Investors Should Keep an Eye on These Major Blockchain Networks

01/05/2023
Bitcoin Ethereum News
  • The market caps of the top networks have increased over the last week.
  • There may be some surprises in store for AVAX, ETH, BSC, and other top chains.
  • BTC’s market cap stands at $323,899,602,605 at press time.

The market caps of the top chains have increased this past week as the crypto market entered into a slight relief rally over the last 7 days. According to CoinMarketCap, almost all of the top 20 cryptos by market cap have printed weekly gains.

Twitter user, Patrick | Dynamo DeFi (@Dynamo_Patrick), tweeted a snapshot of the market caps/daily active addresses today. The snapshot included the Avalanche (AVAX), Binance Smart Chain (BSC), Cardano (ADA), Ethereum (ETH), NEAR, Polygon (MATIC), and Solana (SOL) networks.

Market cap-daily active addresses
Market cap/daily active addresses (Source: Artemis)

According to the tweet, “a higher number means that the market cap is relatively high compared to active addresses.” The twitter user concluded the tweet by stating that there are “some definite surprises” relating to the chains in the snapshot.

In related news, the prices of BNB, AVAX, ADA, ETH, and NEAR have printed gains over the last 24 hours. BNB and AVAX are up 1.33% and 1.89% respectively, while ADA was able to gain 1.02%. The prices of ETH and NEAR increased 0.21% and 6.72%.  

MATIC and SOL were unable to print gains over the last 24 hours. At press time, MATIC is down 0.1% and SOL is down 4.56% — ending its impressive weekly rally of 36.82%.

One chain that was not included in the snapshot is the Bitcoin (BTC) blockchain. At press time, the market leader’s dominance in the market has dropped 0.14% over the last 24 hours. Its market cap is estimated to be $323,899,602,605, and there have been 963,625 active addresses over the last 24 hours.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.


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