Layer 1 chains with a large volume of Daily Acitve Users (DAU) are likely to see gains in the ongoing cycle as the narrative gathers steam among market participants. A high number of DAU means there is more growth and potential for revenue generation in the Layer 1 chain.
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A high number of DAU is the goal of blockchain networks, since it means chains sport more users, higher revenue generation potential and growth. A large number of users, and nodes implies a network is more secure and decentralized as compared to others.
TRON, NEARProtocol, BNB Chain, and Solana are large Layer 1 chains that see higher usage coming from USD Tether (USDT). Crypto expert behind the X handle @hmalviya9 shared the following statistics on Layer 1 chains; the influencer says that these chains have over a million DAUs.
The NEAR blockchain is focused on onboarding new users to the chain and Solana’s ecosystem attracts traders and seasoned market participants.
On Sunday, NEAR price yielded double-digit daily gains while TRON, BNB Chain and Solana were largely unchanged on the daily timeframe.