In 2023, the ethereum blockchain witnessed intriguing transformations in the way users and entities interact. According to Nansen’s recent report, there has been a notable increase, with over 300,000 daily active ethereum addresses.
Among these active addresses, DeFi entities have maintained their position as dominant players. As of October 12, 2023, DeFi users alone outnumbered nft and Layer 2 scaling users by more than double, cementing the sector’s central role in on-chain activities.
The ‘layer 2, bridges and infrastructure’ sector is booming
In terms of new users, layer 2 activities have seen a notable increase. The Nansen report states that this indicates a shift towards scalability solutions, with new users increasingly adopting layer 2 platforms as their initial choice.
The transition also aligns with a broader trend where user counts for Layer 2 and scaling have seen substantial growth, driven by the adoption of more efficient Layer 2 infrastructure and the potential for launch farmers. aerial.
A closer examination of the interactions between entities confirms these trends. While almost all sectors have seen growth in the number of incoming transactions so far this year, the ‘Layer 2, Bridge and Infrastructure’ category has led the way with a notable increase of 149.28%.
nft Sector Is In Decline, But DeFi Remains Resilient
nft users surpassed DeFi users at times in 2022 before beginning a sharp decline from early 2023. In fact, the daily user count in this sector has plummeted by more than 50% since the beginning of the year.
This contrasts with Layer 1/Scaling users, which increased significantly in March, coinciding with the zkSync public mainnet launch and Arbitrum airdrop, before retracing their steps to previous levels in May.
Subsequently, the number of users in the “scaled” category saw another increase and has remained relatively stable since June. It is important to note that the DeFi user group is the most dominant among these groups.
“Also, another interesting observation from the above is that DeFi user count appears to have reached ‘cruising’ speed, settling slightly below bull market levels.”
In contrast, the ‘nft, gaming and GambleFi sector’ has seen a 61.4% drop in activity, reflecting the drop in new nft-focused users.
Additionally, the number of users interacting with nft entities has continued to decline throughout 2023, underscoring the growing appeal of the nft sector to new wallet holders. At the beginning of the year, NFTs made up more than 24% of new users’ initial shares, but by October 12, this figure had dropped to just over 6%.
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