On-chain activity has become highly specialized in 2026, with most chains showing a single high-liquidity use case. Specialized uses also mean fewer artificial incentives and potentially a growing real user base.
Blockchain networks have gone beyond direct competition, and multiple networks have adopted high-value use cases and specialization. New chains no longer aim to compete with Ethereum, but to attract their unique user base and excel in one specialized activity.
According to Cryptorank, top chains have already established a signature use case, which has emerged over the past few years.
Most of the chains have achieved their niche through their most successful apps and have not been specifically engineered to support a specific activity. In fact, the busiest networks were created for flexible use cases, rather than a specialized activity.
Robinhood leads all chains with a meme gold rush
Despite Solana’s reputation as a meme token powerhouse, Robinhood is currently the hottest meme venue. More than 50% of Robinhood activity is tied to issuing and trading memes.
Based on recent Cryptorank research, Solana and $BNB Chain are more suited to meme tokens and DeFi rather than ongoing meme launches. Solana also expects even higher stablecoin activity, as Circle printed more $USDC and sent the biggest share to the Solana chain. Over $5B in $USDC were printed in the past week.
As for Ethereum, it has emerged as infrastructure to consolidate all other chains and tokens. Most alternative chains still issue their token on Ethereum, due to compatibility and the largest available liquidity.
As a result, Ethereum supports its own DeFi and stablecoin activity, but the main activity is to serve as a base layer for other networks.
Even Robinhood chose to become an Ethereum L2 chain, using a well-established technology to support its activity.
Robinhood expanded its value locked from $4M in June to over $1.4B as of August 27, showing new chains are still in demand, if they provide viable narratives and manage to attract liquidity.
Activity quickly returns to chains with bullish signals
On-chain activity and value locked showed chains were highly responsive to bullish signals. In the past month, following the recovery of blue-chip tokens and BTC, most chains dramatically increased their value locked.
Robinhood was still the leader, with a 93% TVL growth for the past month, but most chains added over 20% to their value.
For the past month, Robinhood saw over $125M in net inflows, based on Artemis data. Robinhood was a leader on netflows for the past month. As Cryptopolitan reported, Robinhood also expanded with its own brand of tokenized real-world assets.
Arbitrum was the leader of inflows on a quarterly basis, adding a net $1.9B, mostly linked to tokenized real-world assets. Data on inflows and outflows shows bridge infrastructure is still key, and liquidity moves fast to new chains whenever there is an active narrative or a use case.
As of 2026, the larger Web3 narrative is not as active, but specific chains get a boost from their own niche performance.
When it comes to daily active users, chains also show a different narrative. $BNB Chain is still the most widely used, with over 3.5M daily active wallets, on par with TRON. Solana has spikes of activity, recently breaking out to 5M daily active addresses.
