<em>Bitcoin, Ethereum, Litecoin, Avalanche, Dogecoin, and Cardano — How do these major layer 1 networks compare in terms of the number of addresses carrying a balance?</em>
<h2>Bitcoin and Ethereum Lead the Pack</h2>
[embed]https://twitter.com/intotheblock/status/1739571961657782666[/embed]

According to recent data shared by market intelligence platform IntoTheBlock, Ethereum currently boasts the highest number of addresses carrying a balance, totaling a staggering 103 million. Bitcoin follows, with less than half that number at 51 million. The infographic reveals a snapshot of the 30-day trend in the number of holders for six major layer 1 networks.
<h2>Litecoin's Surge in Transactions</h2>
Litecoin (LTC), often considered digital silver to Bitcoin's gold, stands out as the largest among layer 1 networks in terms of addresses with a balance, approximately 7.7 million. Litecoin has experienced a spike in activity, recording a record-breaking 1.27 million transactions in a single day. This surge indicates sustained transactional interest and usage on the Litecoin network.
<h2>Dogecoin's Growing Adoption</h2>
<a href="https://www.cryptoknowmics.com/news/dogecoin-hits-0-10-on-10th-anniversary-milestone/" target="_blank" rel="noopener">Dogecoin</a> (DOGE) has seen rapid growth in the number of addresses carrying a balance, reaching around 5.3 million. Despite having fewer holders compared to Bitcoin and Ethereum, DOGE's recent surge in adoption suggests increased attention and potential long-term positive prospects for the meme-inspired cryptocurrency.
<h2>Cardano's Exodus and Other Observations</h2>
Cardano (ADA) stands out with a notable decrease in the number of holders, signaling an exodus of investors earlier in the month. Meanwhile, Avalanche (AVAX) maintains a consistent count of holders, showcasing stability in its user base.

[embed]https://twitter.com/C__thumbs/status/1739302775903662438[/embed]
<h2>Crypto Whales and Market Dynamics</h2>
In tandem with these trends, a significant Dogecoin whale recently withdrew over $91 million worth of DOGE from Binance, potentially signaling a bullish sentiment. Large-scale withdrawals from exchanges are often associated with increased buying activity, hinting at positive market dynamics for the popular meme cryptocurrency.
<h2>Conclusion: <strong>
</strong></h2>
As the crypto landscape evolves, the trends in address holdings shed light on the shifting dynamics of major layer 1 networks. While Ethereum and Bitcoin lead in sheer numbers, Litecoin's transactional surge and Dogecoin's adoption spike highlight the varied dynamics at play within the crypto space.

Crypto Address Trends: A Snapshot of Top L1 Networks

Explore the recent surge in cryptocurrency addresses, comparing top L1 networks. Discover insights into Dogecoin, Litecoin, Ethereum, and more.

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

Crypto Address Trends: A Snapshot of Top L1 Networks

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