Some of last year’s hottest blockchains saw the steepest declines in onchain activity after viral moments failed to drive sustained growth.
Onchain activity declined sharply on several major networks, according to Nansen data, with 11 blockchains posting drops in active addresses in the past year.
Ronin fell the most at 70%, while Bitcoin registered a 7.2% decline. Several Ethereum layer-2 networks made the list.
Nansen data also showed drops in transaction activity across many of the same networks. ZKsync recorded one of the steepest declines, with transactions falling 90%.
