Ronin (RONIN) Plunge

According to Nansen data, onchain activity declined sharply across several major blockchain networks in 2025. Ronin saw the largest drop in active addresses at 70%, largely due to decreased usage of the Pixels game. ZKsync experienced one of the steepest transaction declines, falling 90% after its 2024 airdrop. Several Ethereum layer-2 networks, including Scroll, also posted declines as airdrop-related activity cooled. In contrast, Ethereum’s base layer saw active addresses rise 25% and transactions increase over 20%. Solana led the industry in active addresses with over 1 billion, despite a token price drop, while BNB Chain posted a 159% increase in active addresses. The data highlights how onchain activity is highly volatile and often driven by short-term factors like airdrops, viral applications, and migrating ecosystems, rather than indicating long-term network failure.