2024 is an exciting year. In addition to Bitcoin, it can be said that it has attracted a lot of attention, from the popularity of spot ETFs at the beginning of the year to Trump's election as president at the end of the year.
In addition to Ethereum, the public chain competition in 2024 is also very exciting. Today we briefly review:
1. Ethereum
Let’s first look at Ethereum. The price of Ethereum has been unable to break new highs:
In fact, Ethereum’s performance this year is already worthy of the price:
Because Ethereum's TVL has not set a new high. The highest TVL in the last bull market was 100 billion, and this round did not even break 80 billion. From the perspective of TVL, this gap is basically the same as the fluctuation range of currency prices.
If we look at Ethereum from the perspective of revenue, there is no hope. Gas fees are almost falling, and the drop is ten times compared to the last bull market!
2. Solana
Solana has actually performed well this year, with the price of the currency basically consistent with the previous high.
Let’s take a look at TVL. Sure enough, this year’s high is basically the same as the high of the previous bull market:
But this year's Solana is different from the previous Solana. This year, Solana's on-chain transactions are extremely active, so the on-chain Gas fee has increased by a thousand times compared to the previous bull market!
Considering Solana’s ability to make money has increased, the price of this coin still has a solid foundation for growth~
3. Bitchain
Bitcoin price hits new highs:
Although this price trend has little to do with the development of Bitcoin Chain, Bitcoin Chain has made great progress this year:
First of all, starting from 2024, the assets on the Bitchain have also had TVL, thanks to the explosion of the Bit ecosystem.
Moreover, this TVL scale is second only to ETH and Solana among mainstream public chains, which can be said to be a very good result.
However, the gas fee on the chain has fallen sharply after the inscriptions and runes in the first half of the year. Maybe BitChain is more suitable for value storage. Maybe the main competitor in the future will be the Ethereum main chain.
4. Binance Chain
Binance Chain's token BNB also hit a new high this year:
However, the performance of this currency price should mainly be attributed to Binance's dominance in the exchange.
Because Binance Chain’s performance this year is actually quite average:
In terms of TVL scale, it has remained at US$5 billion for 24 years, which is one-quarter of the peak of the last bull market.
Judging from the gas consumption, this round is far inferior to the previous one.
5. Base Chain
The Base chain is considered to be the best performing Ethereum Layer2 this year, but unfortunately it has not issued any coins.
With the strong support of Coinbase, the TVL of Base chain has continued to rise to 3 billion US dollars, which is very close to BSC.
The consumption of gas fees is also maintained at a similar level to BSC.
Considering that Coinbase's trading volume is ten times that of Binance, the development level of Base chain can serve as an excellent representative of exchange chains.
6. Arbitrum Chain
As an outstanding representative of Ethereum's second-layer chain and the previous leader, Arbitrum was not only beaten by public chains such as Solana/BSC in 2024, but also overtaken by Base.
Anyone who invested heavily in Layer2 this year will miss the entire bull market. By the end of 2024, the price of the ARB token not only did not rise, but was cut in half.
From the perspective of TVL, Arb remains stable.
However, from the perspective of gas fees, Arb has basically withdrawn from the public chain competition after the Cancun upgrade this year, and is just a bystander in the meme brawl.
Finally, I put the TVL screenshots of each public chain here for everyone:
The competition among public chains in 2025 will still be very fierce. The leading public chains suggest that you pay more attention to the TVL indicator.