In 2024, the cryptocurrency market experienced groundbreaking changes, from the approval of Bitcoin ETFs to the rise of Solana, the competition among major public chains intensified. This article will review the performance of major public chains in 2024 and analyze the data on their growth and decline. (Background: 2024 Annual Report on Public Chains: From Infrastructure Competition to Application Breakthrough) (Background Supplement: A quick look at this year's winners and losers among L1 public chains, with champions soaring over 7000%) 2024 is destined to be a significant year in the development history of cryptocurrencies. From the official approval of Bitcoin and Ethereum ETFs to the newly elected U.S. President Trump proposing to make Bitcoin a national strategic reserve, cryptocurrencies are gradually becoming an internationally recognized emerging asset class. Bitcoin broke the $100,000 barrier, MEME coins on Solana emerged one after another, and many once-celebrated projects fell into obscurity, creating a stark contrast in the crypto market. Behind these changes, public chains remain the core battlefield of the crypto market, and all these competitions are reflected in the competition among public chains. So, from a data perspective, which public chains truly rose in 2024? Which public chains' decline may not be underestimated but rather a real decline? PANews conducted a review and summary of this. Data Explanation: This review focuses on the high-profile Layer 1 and Layer 2 chains, monitoring dimensions such as TVL, token prices, market capitalization, active address counts, and transaction volumes throughout the year, from January 1, 2024, to December 29, 2024. Some public chains that launched their mainnets in 2024 used the initial data from when their tokens were launched and year-end data. TVL data is sourced from Defillama, daily active and transaction volume data come from Tokenterminal and official browsers, and price data is sourced from Coingecko. The public chains reviewed include: Layer 1: Solana, Ethereum, BNB Chain, Sui, Aptos, TON, Avalanche, Cardano, Hyperliquid, Fantom (Sonic), Tron, Near Layer 2: Base, Arbitrum, Optimism, zkSync, Polygon, Blast, Scroll, StarkNet, Taiko, Linea. Layer 1's average TVL grew 7 times, with Hyperliquid and TON seeing the highest increases. In terms of TVL data, overall, the TVL data of these analyzed public chains grew by 117.7% throughout the year. Among them, Layer 1's TVL saw an average growth of 707.69% in 2024, while Layer 2 projects averaged a TVL growth of 8515.22%. However, this is mainly due to the low initial TVL of L2 chain Taiko at launch, resulting in a multiple increase of 825 times; excluding Taiko, the average growth of other Layer 2 chains this year was 294.69%. Among Layer 1, the highest TVL growth was seen in Hyperliquid, TON, and Aptos, all growing over 10 times, with Hyperliquid's TVL increasing by 4407% since its launch. Among Layer 2, Taiko and Base were the kings of growth this year, with Taiko's TVL increasing by 82500% from its launch to the end of the year, while Base's TVL grew about 721.51% throughout the year. In addition to the growth, some public chains' data did not significantly increase after a year and even saw a certain degree of decline. Among them, zkSync experienced the most severe decline, with its TVL dropping by 41.25%, followed by Optimism (-16.69%), Fantom (-13.95%), Tron (-9.17%), and Polygon (-1.67%). Half of the public chains saw a decline in daily active users, with Solana having the highest daily activity. In terms of network activity, Hyperliquid, Sui, and TON had the highest increases in daily active addresses in 2024, with increases of 13381.48%, 3350.55%, and 2409.43%, respectively. Besides these three public chains, several others such as Base, Aptos, and Solana also saw daily active data increase over 10 times throughout the year. Surprisingly, among the 22 public chains analyzed, 9 saw varying degrees of decline in daily active data this year. Among them, zkSync and StarkNet experienced the most severe declines in daily active users, exceeding 90%. Additionally, Near, Blast, Polygon, Avalanche, Cardano, Optimism, and Tron all showed varying degrees of decline in daily active levels compared to the beginning of the year. At the start of the year, Tron had 2.2 million daily active addresses, ranking first among all public chains. After a year of changes, Solana has become the public chain with the highest daily active addresses at 4 million, and in the statistics for the highest daily active data, Solana also achieved the highest number of 8.8 million daily active users. In terms of daily transaction volumes, Hyperliquid again became the public chain with the largest growth, with transaction volumes increasing by approximately 248900% over the year, Taiko increased by 4471.43%, and Base's transaction volume grew by 1948.78%, all exceeding 10 times growth. The Avalanche (C-Chain) network saw the most severe decline in transaction volume, dropping from 2.8 million transactions at the beginning of the year to 260,000, a decrease of 90.71%. However, this decline was primarily due to an abnormal spike in Avalanche transaction volumes on January 1, 2024. Excluding this abnormal spike, Avalanche's daily average transaction volume has basically maintained at several hundred thousand transactions per day, showing no significant fluctuations. Additionally, zkSync's decline also reached 90%, indicating a noticeable drop, especially after the airdrop ended, the on-chain transaction volume rapidly decreased from millions to just over a hundred thousand per day. In terms of price performance, with half going up and half going down, HYPE took the lead. In terms of token performance, half of the tokens rose and half fell throughout the year. Hyperliquid's token performed exceptionally well, with an annual increase of approximately 1272.30%, peaking at 1648.00%. It became the only public chain token with an increase exceeding 10 times. However, it should be noted that Hyperliquid's token HYPE was only issued at the end of November, which gives it a certain advantage in terms of growth when calculated from the opening price compared to other public chains. Nevertheless, some other public chain tokens were issued throughout the year, many with modest increases, and some even saw declines.

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