Ethereum News Today: Near Surpasses Solana as Top Blockchain with 16 Million Active Users

Near Protocol (NEAR) has surged to the top of the weekly active user rankings in the crypto space, with 16 million active users—a 18.4% increase from the prior week [1]. This marks a significant milestone for the network as it outpaces major competitors like Solana (SOL), which dropped 18.8% to 14.8 million users, and BNB Chain (BNB), which fell 9.2% to 14.5 million [1]. The rankings are based on unique active wallet addresses, a key metric for gauging user engagement across blockchain ecosystems.

Ethereum (ETH) and Aptos (APT) also stood out with strong user growth. Ethereum added 25.6% to reach 2.9 million active users, while Aptos saw a more dramatic increase of 30.9%, bringing its total to 4.2 million users [1]. Both platforms have recently rolled out significant upgrades and ecosystem expansions, which may be driving the surge in on-chain activity. Analysts suggest that such growth in active addresses often precedes higher transaction volumes, potentially signaling a bullish outlook for these networks [1].

Notably, Bitcoin (BTC) also showed modest user growth of 1.7%, maintaining 3.1 million active wallets, while other platforms like Raydium (RAY) and Base experienced mixed results—RAY gained 13.0% to 6.3 million users, but Base lost 26.2% [1]. On the downside, Uniswap (UNI) and Jito (JTO) saw sharp declines, with UNI dropping 36.1% and JTO plummeting by 44.5% [1].

The user activity trends align with broader market developments. Ethereum’s resurgence appears to have a spillover effect on Bitcoin, with ETH’s performance helping BTC break through key resistance levels [2]. However, Ethereum’s derivatives market remains subdued, with open interest in ether futures still below July’s peak, indicating that most of the buying pressure is concentrated in spot markets [2].

Aptos' rapid growth is particularly striking in a crowded market. As a newer layer-1 blockchain, APT has quickly amassed a large user base, suggesting strong potential for further adoption [1]. The 30.9% weekly increase is among the most significant growth figures among major blockchains, reflecting high user engagement and the platform’s ability to attract developers and users alike.

Meanwhile, whale activity has seen a notable uptick across multiple chains [3], indicating increased participation from institutional or high-net-worth investors. This could lead to greater liquidity and price stability, though caution is still advised. For example, Bitcoin remains at a discount on Coinbase compared to Binance, and overall spot and futures trading volumes are lower than in July, suggesting that buying pressure may be moderating [2].

Ethereum’s continued strength is also evident in its on-chain metrics. Daily transaction volumes have hit record levels, and the number of new addresses is nearing the peak seen four years ago [2]. These signs suggest genuine user demand rather than speculative activity. However, 97% of ETH addresses are in-the-money, raising concerns about potential sell-offs if the price pulls back, which could lead to short-term volatility.

The growth in Ethereum and Aptos has also influenced the broader altcoin market. With Bitcoin’s dominance rate near a key support level, there is potential for altcoins to outperform in the coming weeks, mirroring previous bull market patterns [2]. This trend suggests a shift in market dynamics, where altcoins are gaining momentum faster than the leading asset.

For investors and analysts, the performance of Near Protocol, Ethereum, and Aptos highlights the evolving dynamics in the crypto space. Near’s leadership in user activity points to its ability to attract both developers and end-users, while Ethereum’s robust growth reaffirms its position as a foundational layer in the industry. Aptos, meanwhile, is demonstrating the appeal of newer, scalable blockchains that can challenge established protocols. As these trends continue, it will be essential to monitor user behavior, on-chain activity, and macroeconomic conditions to gauge the sustainability of the current momentum.

Source:

[1] Near Protocol Leads Weekly Active Users in Crypto – Ethereum and Aptos See Strong Growth (https://coindoo.com/near-protocol-leads-weekly-active-users-in-crypto-ethereum-and-aptos-see-strong-growth/)

[2] Ether's Rally Pulls Bitcoin Along: Crypto Daybook Americas (https://coinstats.app/news/5e3f5f6a94a0dc79a4626500874e760b5cb3f06a30d7d30c7c6c2f0e2e163ae0_Ethers-Rally-Pulls-Bitcoin-Along-Crypto-Daybook-Americas/)

[3] Whale Activity Explodes Across Multiple Chains (https://coindoo.com/whale-activity-explodes-across-multiple-chains-heres-whos-leading/)