New data from Nansen listed the top EVM-compatible chains that witnessed the highest on-chain activity over the past seven days.
Similar to the Ethereum blockchain, these chains are blockchains that use EVM’s capabilities, enabling developers to build DApps and smart contracts.
As reported by the latest Nansen data today, several EVM blockchains (led by IOTA, Hyperliquid, and many others) experienced impressive growth in on-chain activity in the past week.
IOTA leads active wallet activity
First, the data listed top EVM chains with growth in active addresses over the week.
The IOTA Network emerged as the top EVM chain that registered the highest increase of active addresses last week, representing a massive 123% rise.
The second largest EVM chain, in terms of the surge in active wallets, is Hyperliquid. The Hyperliquid blockchain experienced a 35% increase in active addresses during the week. This remarkable rise is tied to HYPE’s resurgence. In the past seven days, the asset’s price massively rose by 27.8%, which enabled it to climb to a new ATH of $37.24 two days ago. This implies that investors are putting more capital into the decentralized derivatives exchange than ever before. The network attracted a large number of active wallets, indicating increased confidence in the platform.
The Sei Network emerged as the third most popular EVM chain, with a 22% growth in active addresses recorded over the past week. This figure highlights a growing chain where users are using DApps on the network. This increase indicates the rising engagement and use of the Sei Network.
BNB Chain leads in transaction volume
The Nansen data also listed the top EVM chains that registered the highest transaction volume over the last seven days.
BNB Chain topped all other EVM chains, pulling in a massive 49% increase in transaction volume over the past week. It is not by chance that BNB Chain is the leader in crypto transaction volume. The network has been strategically working to become a top chain for crypto trading activity. Its simplified platform, low transaction fees, and fast processing times make it a top choice for crypto transactions.
Sonic Labs took the second position, beating other EVM chains in terms of transaction volume. Over the last seven days, transaction volume on Sonic Labs rose by 13%, an indicator of heightened capital inflows and increased user activity in the EVM chain.
Finally, the Scroll ZKP Network made it to the third position, showcasing it as a prominent EVM chain. Scrolls, which is an Ethereum layer-2 scaling solution, experienced an 11% increase in transaction volume, knocking other EVM chains from the list.
