

Captain RG3
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@CaptainRG3
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HEX in 2025 Part II Adoption Adoption was the weakest (if we disregard the launch month in 2019, as it is only one month compared to a full year). Nevertheless, adoption remains stable, and active users are holding steady except for active stakers, which are clearly stagnating. Let's dive into the yearly data. 42k new addresses interacted with HEX, which is lower than in 2020 but still a significant number. This count includes addresses on Ethereum and PulseChain. We saw slight growth in active staker numbers on PulseChain in 2025, increasing them overall to 134.8k. On Ethereum, active staker numbers declined for the second year in a row. However, the slight growth overall is negligible compared to the increases in active stakers seen before the PulseChain launch. 116k addresses were active during 2025, which is quite a large number. HEX users are alive and using it. The drop here is not that heavy and seems to be cooling off. When splitting active HEX users by chain, there were 91k active users on PulseChain and 45k on Ethereum. Overall, adoption for HEX is still happening but has slowed significantly, especially staking adoption, which appears to be stagnating. This is not surprising given the yield drop and the OA staking massively in 2025. Still, one thing is clear: HEX users remain very active on-chain, not just on X.