Monthly Insight into TVL and Market Dynamics: Blockchain Performance Report
The blockchain industry is experiencing rapid growth and is no longer just a futuristic concept, but a present-day technology. In order for technology enthusiasts to succeed in this fast-paced and competitive world, it is crucial to have a clear understanding of the industry’s latest developments.
This monthly report aims to simplify blockchain analysis and provide an easy-to-understand overview of the sector’s recent advancements. By utilizing high-quality data, we ensure the utmost clarity in this exploration. Let’s dive into the report to stay up to date on the ever-evolving blockchain landscape and to gain insights into the major trends recognized in the data collected for the month.
1. Blockchain Performance: A General Analysis
One way to analyze the performance of a blockchain in a given month is to examine the Total Value Locked (TVL). The TVL of a blockchain’s decentralized finance ecosystem represents the total value of assets locked in smart contracts. An increasing TVL indicates adoption, economic activity, and user trust, suggesting a positive month of robust participation in decentralized finance (DeFi) and contributing to the overall performance of the blockchain.
1.1. Blockchain Performance Analysis Using TVL and Dominance
Here are the top ten blockchains based on their TVL and Dominance data:
1. Ethereum: TVL of $34.81 billion, Dominance of 72.49%
2. BNB Smart Chain: TVL of $3.80 billion, Dominance of 7.92%
3. Arbitrum One: TVL of $2.92 billion, Dominance of 6.08%
4. Solana: TVL of $1.45 billion, Dominance of 3.02%
5. Optimism: TVL of $919 million, Dominance of 1.91%
6. Polygon POS: TVL of $899 million, Dominance of 1.87%
7. Avalanche: TVL of $865 million, Dominance of 1.80%
8. Manta Pacific: TVL of $416 million, Dominance of 0.87%
9. Base: TVL of $415 million, Dominance of 0.87%
10. Cronos: TVL of $336 million, Dominance of 0.70%
1.1.1. Analyzing Top Blockchains Using 30-Day TVL Movement
Let’s take a closer look at the top blockchains that dominate the industry in terms of Year-to-Date (YTD) TVL data and examine their 30-Day TVL movement to understand the changes they have experienced in the past month.
1. Ethereum: 30-Day Movement of 19.6%
2. BNB Smart Chain: 30-Day Movement of 13.6%
3. Arbitrum One: 30-Day Movement of 14.6%
4. Solana: 30-Day Movement of 24.4%
5. Optimism: 30-Day Movement of 4.9%
6. Polygon POS: 30-Day Movement of 0.6%
7. Avalanche: 30-Day Movement of -9.2%
8. Manta Pacific: 30-Day Movement of 880.2%
9. Base: 30-Day Movement of -2.2%
10. Cronos: No Movement
Re-analyzing the top blockchains based on their 30-day TVL movement provides valuable insights into their performance. Ethereum and Solana have experienced significant growth, indicating increasing interest and adoption. BNB Smart Chain and Arbitrum One also show positive trends in their 30-day TVL movement. Surprisingly, Manta Pacific has seen an unprecedented surge of 880.2%, raising questions about emerging players in the blockchain landscape. On the other hand, Avalanche has experienced a decline of -9.2%, suggesting potential challenges affecting its TVL.
1.2. Blockchain Monthly Performance Analysis Using 30-Day TVL Movement
Let’s take a closer look at how different blockchains have performed in the past month based solely on their 30-day TVL movement.
1. Manta Pacific: 30-Day Movement of 886.3
2. opBNB: 30-Day Movement of 193.3
3. Sei Network: 30-Day Movement of 161.1
4. Metis Andromeda: 30-Day Movement of 122.3
5. Ronin: 30-Day Movement of 26.3
6. Solana: 30-Day Movement of 23.7
7. StarNet: 30-Day Movement of 22.8
8. Ethereum: 30-Day Movement of 19.2
9. Arbitrum One: 30-Day Movement of 14.0
10. BNB Smart Chain: 30-Day Movement of 13.1
Analyzing the recent 30-day TVL movement across various blockchains provides insights into the dynamics of the blockchain space. Manta Pacific has experienced an extraordinary surge of 886.3%, primarily driven by its strategic New Paradigm campaign. On the other hand, Ethereum has shown sustained growth with a 30-day movement of 19.2%. Other blockchains, such as opBNB, Sei Network, and Metis Andromeda, have also demonstrated significant growth, showcasing the diversity of strategies in the blockchain industry.
2. Blockchain Comparative Analysis: How Top Blockchains Performed This Month
By focusing on four factors of analysis, we can gain insights into the economic strength, development activity, market stability, and adoption potential of each blockchain.
2.1. Blockchain Analysis: Total Value Locked and Economic Activity
Let’s assess the economic activity within each blockchain’s ecosystem by examining the TVL, transaction volume, and revenue.
– Ethereum: TVL of $32.92 billion, Volume of $755.75 million, Fees of $9.11 million, Revenue of $7.75 million
– Tron: TVL of $7.81 billion, Volume of $9.73 million, Fees of $1.05 million, Revenue of $1.05 million
– Binance Smart Chain: TVL of $3.47 billion, Volume of $274.61 million, Fees of $498.29 thousand, Revenue of $49.83 thousand
– Arbitrum: TVL of $2.62 billion, Volume of $405.24 million, Fees of $159.48 thousand, Revenue of $59.43 thousand
– Solana: TVL of $1.35 billion, Volume of $507.6 million, Fees of $446.21 thousand, Revenue of $223.11 thousand
– Polygon: TVL of $845.18 million, Volume of $78.31 million, Fees of $25.79 thousand, Revenue of $2.75 thousand
– Optimism: TVL of $836.68 million, Volume of $30.69 million, Fees of $68.36 thousand, Revenue of $15.64 thousand
– Avalanche: TVL of $810.87 million, Volume of $46.53 million, Fees of $41.36 thousand, Revenue of $41.36 thousand
Ethereum dominates the blockchain industry in terms of TVL and economic activity, with a high transaction volume, substantial fees, and notable revenue. Tron, Binance Smart Chain, Arbitrum, Solana, Polygon, Optimism, and Avalanche also exhibit significant economic activity, showcasing their vibrancy and utility.
2.2. Blockchain Analysis: Development and Innovation
Let’s evaluate the development activity and innovation within each blockchain by examining the number of core developers and commits.
– Ethereum: 305 core developers, 8.74k commits
– Tron: 9 core developers, 56 commits
– Binance Smart Chain: 29 core developers, 314 commits
– Arbitrum: 36 core developers, 1.33k commits
– Solana: 35 core developers, 543 commits
– Polygon: 20 core developers, 345 commits
– Optimism: 36 core developers, 2.35k commits
– Avalanche: 33 core developers, 1.34k commits
Ethereum leads in development activity with a large community of core developers and a substantial number of commits. Other blockchains such as Tron, Binance Smart Chain, Arbitrum, Solana, Polygon, Optimism, and Avalanche also demonstrate active development and innovation.
2.3. Blockchain Analysis: Market Performance and Stability
Let’s analyze the market performance and stability of each blockchain’s native cryptocurrency by examining their price and stablecoins market cap.
– Ethereum: Price of $2.58k, Stablecoins Market Cap of $69.744 billion
– Tron: Price of $0.1, Stablecoins Market Cap of $52.099 billion
– Binance Smart Chain: Price of $309.3, Stablecoins Market Cap of $4.736 billion
– Arbitrum: Price of $2.49k, Stablecoins Market Cap of $2.109 billion
– Solana: Price of $93.3, Stablecoins Market Cap of $1.915 billion
– Polygon: Price of $0.8, Stablecoins Market Cap of $1.31 billion
– Optimism: Price of $2.49k, Stablecoins Market Cap of $606.29 million
– Avalanche: Price of $32.6, Stablecoins Market Cap of $1.098 billion
Ethereum stands out with a high price and substantial stablecoins market cap, indicating its market dominance and reliability. Tron, Binance Smart Chain, Arbitrum, Solana, Polygon, Optimism, and Avalanche also demonstrate varying levels of stability and potential as a medium of exchange.
2.4. Blockchain Analysis: Adoption and User Interest
Let’s examine the level of adoption and user interest by looking at net inflows, token prices, and token market capitalization.
– Ethereum: Net Inflows of -8.45 million USD, Token Price of $2.49k, Token Market Cap of $299.283 billion
– Tron: Net Inflows N/A, Token Price of $0.1, Token Market Cap of $9.739 billion
– Binance Smart Chain: Net Inflows of 548.53k USD, Token Price N/A, Token Market Cap N/A
– Arbitrum: Net Inflows of 548.43k USD, Token Price of $1.9, Token Market Cap of $2.361 billion
– Solana: Net Inflows of -64.35k USD, Token Price of $92.6, Token Market Cap of $40.09 billion
– Polygon: Net Inflows of -5.95 million USD, Token Price of $0.8, Token Market Cap of $7.04 billion
– Optimism: Net Inflows of 59.82k USD, Token Price of $3.2, Token Market Cap of $3.064 billion
– Avalanche: Net Inflows of -0.25 million USD, Token Price of $32.6, Token Market Cap of $11.969 billion
Ethereum leads in user interest and adoption, despite a negative net inflow. Other blockchains, such as Arbitrum, Tron, Binance Smart Chain, Solana, Polygon, Optimism, and Avalanche, also demonstrate varying levels of user interest and adoption.
In conclusion, this comparative analysis provides valuable insights into the economic strength, development activity, market stability, and adoption potential of each blockchain. By examining factors such as TVL, economic activity, development activity, market performance, and user interest, we can gain a comprehensive view of the blockchain industry and its top performers.