The multi-chain smart contract platform on Polkadot, Moonbeam has witnessed a capital injection of $1,055,889 in the last week. This is catching up due to increased adoption within the blockchain and decentralized finance (DeFi) space. Top inflows majorly coming from Sui, Base, and Ethereum. Moonbeam reveals this latest milestone through its official X account.
In the last 7 days, Moonbeam saw a net inflow of $1,055,889!Top inflows came from: Ethereum – $1,424,448 (65%) Base – $516,363 (23.58%) Sui – $108,198 (4.95%) pic.twitter.com/gZnpq78m7v
— Moonbeam Network (@MoonbeamNetwork) October 5, 2024
Ethereum Drives Inflows to Moonbeam
Most of the inflows came from Ethereum, amounting to approximately $1,424,448, approximately 65%. This notable capital movement underlines Moonbeam’s appeal to Ethereum-based investors. The interoperability between Moonbeam and Ethereum plays a role in attracting this capital volume to navigate cross-chain operations.
Base, a Layer 2 solution, accounted for $516,363 of the total inflows, contributing 23.58%. This marks a significant development as more capital transitions from Layer 2 solutions to multi-chain platforms like Moonbeam. The ability to offer scalability and cross-chain compatibility further enhances Moonbeam’s position within the DeFi landscape.
Sui Increases its Presence on Moonbeam
Sui contributed $108,198 around 4.95% of overall inflows. Although smaller than Ethereum and Base, Sui’s contribution represents an expanding interest from a broader range of blockchain ecosystems. This indicates that Moonbeam is gaining attention across various networks, adding to its appeal as a multi-chain platform capable of attracting diverse liquidity sources.
Moonbeam’s ability to attract over $1 million in inflows within a week, particularly from well-established blockchains like Ethereum, clearly indicates its growing significance in the cross-chain ecosystem. With significant contributions from Base and Sui, Moonbeam also continues to solidify its place as a critical platform for decentralized applications and cross-chain liquid.
