The blockchain boom has led to over 500 active chains, though only 64 maintain high activity. Some chains with high market caps, such as XDC Network, Celestia, and Tezos, have experienced declines in active users.
XDC Network saw daily addresses decrease by 84.38%, and its native token, XDC, declined 62.5%.
Celestia’s active addresses dropped 96.92%, with its token, TIA, falling 98.2% from its all-time high.
Tezos experienced a 68% decrease in fees and revenue, and its token, XTZ, fell 95% from its peak.
Declining user base negatively impacts native token prices, showing a direct correlation between token value and network usage. A rebound in demand could restore upside potential.
