USDC stablecoin continues to play an important role in the financial landscape

It recently experienced consistent growth, enabling multiple users to settle payments and token transfers. While active USDC addresses have been on the rise

Crypto analyst CryptoRank.io recently shared data on the top 10 blockchains with the highest numbers of active USDC addresses in the past month.

The analysis shows that Polygon (CRYPTO: MATIC) had the highest count of active USDC addresses with 2.7 million, amounting to over 30% of the total addresses.

Solana (CRYPTO: SOL) came second with 2.2 million, while Base, an L2 solution developed on top of Ethereum (CRYPTO: ETH), had 1 million active USDC addresses in the past month.

Solana and Base combined had about 40% of the total active USDC addresses.

Top 10 Blockchains By Active USDC Users

Polygon is the go-to chain for USDC transfers

Active unique $USDC addresses on @0xPolygon reached 2.7M in the last 30 days, accounting for over 30% of total addresses.

@solana and Base combined account for around 40% of active $USDC addresses.

Meanwhile, $BNB, $AVAX, and $CELO saw the lowest activity in the last 30 days.

— CryptoRank.io (@CryptoRank_io) July 27, 2023

Here are the top 10 blockchains with the highest active USDC addresses in the past 30 days:

1. Polygon - 2,700,000

2. Solana - 2,200,000

3. Base - 1,000,000

4. Ethereum - 888,000

5. Arbitrum - 608,000

6. BNB Chain - 463,000

7. Optimism - 184,800

8. Avalanche - 92,300

9. Celo - 7,300

10. Tron - 1,400

Despite its dominance in the stablecoin market, Ethereum had 888,000 active USDC users in the past month, ranking it fourth on this list.

This shows that due to Ethereum’s relatively high transaction fees and network congestion issues, many USDC users preferred using other networks that offered faster processing times and lower transaction costs.

Also, the recent surge in the popularity of Layer-2 networks like Polygon, Base, and Arbitrum presented users with better alternatives to transact at substantially less fees than base-layer Ethereum.