Token Terminal's latest data shows that the total daily active users on L1 public chains has exceeded 18 million, with BNB Chain still being the leader.
This data looks impressive, but experienced investors sense something unusual. It's not surprising that BNB Chain has stabilized its position with a low threshold and a meme coin ecosystem, but a sudden surge in daily active users in the current market likely indicates that it's either bot activity or a coordinated effort by yield farmers. This is a typical case of 'false prosperity'; while the number of addresses has increased, if the TVL and real turnover rate do not follow suit, then it's just playing tricks. Don't just focus on the number of addresses; to see if liquidity has truly entered the market, looking at transaction fees and stablecoin inflows is more convincing.
With such high data, do you think this is a sign that the altcoin season is coming, or is it just a scheme by the whales? #L1 #BNBChain #OnChainData $BNB $ETH
