#Layer2 Monthly Report | May 2024

May saw the launch of a new Layer 2 solution, #Taiko, with an airdrop event for users scheduled for early June.

So how are other Layer 2 platforms performing in terms of ecosystem metrics?

Dive into the thread below to explore

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Explore the top blockchains with the most transactions conducted in May 2024

#Sui and #Aptos stood out this month, leading with 631M and 349M transactions respectively

$ELON, an Elon Musk-inspired #memecoin, has experienced incredible growth:

- Doubling in the past 24 hours
- Increasing more than fivefold in the last 7 days

Explore the landscape of the top Elon Musk-inspired memecoins by market cap now

Daily active addresses on top #Layer2 blockchains

Compared to the previous month, #Linea leads all top Layer 2 blockchains with an impressive growth rate of +196%

Discover @berachain, an EVM-equivalent #layer1 built on #Cosmos SDK and powered by proof of liquidity!

Currently in the testnet phase, #Berachain already boasts over 80 projects in its ecosystem

Narrative Mindshare YTD

Here's a look at the most talked-about themes and sectors since the beginning of 2024

#AI
#ETF
#Meme
#DeFi
#Halving
#Layer2
#GameFi
#RWA
#BRC20
#SocialFi

Since the beginning of 2024, VCs have increasingly focused on the #DePIN sector

- The number of DePIN projects successfully raising funds has grown steadily each month

- Total of 35 DePIN projects had received investment YTD

Explore the top PolitiFi #Memecoins with the highest market cap

$TRUMP $BODEN $PEOPLE $STRUMP $TREMP $PTRUMP $MVP $BABYTRUMP

. @taikoxyz ecosystem

#Taiko has officially launched on the mainnet and is also the first Ethereum #Layer2 to airdrop to testnet users

Let's explore over 110 projects in this ecosystem. Will Taiko be able to grow as strongly as previous #Ethereum Layer 2 solutions?

$TKO

#Aptos surpasses #Solana and leads with 57M daily transactions

Weekly Commits & Active Devs on Popular Blockchain Platforms

7-day Net Flow across Blockchain Platforms

#Optimism: +$143M
#Ethereum: -$206M

Stablecoin Landscape YTD

Key Takeaways:

- Total #stablecoin market cap reached $161B, up $31B since early 2024
- $USDT leads with 69% market share
- #Ethereum and #Tron dominate, with #Base (+1,674%) and Near (+545%) seeing major growth

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Top 15 blockchains with the highest #NFT created over the past month:

1. Solana
2. Polygon
3. Base
4. Blast
5. Arbitrum
6. BNB Chain
7. zkSync
8. Aptos
9. Scroll
10. Ethereum
11. TON
12. Linea
13. Optimism
14. Mint
15. Avalanche

.@monad_xyz, a high-performance #Ethereum-compatible L1 that raised over $225M from top-tier ventures

Let's take a look at the promising projects within the #Monad ecosystem!

Since the beginning of 2024, the #stablecoin market cap has increased by more than $30B:
$USDT: +$19.7B
$USDC: +$8.7B

Currently, $USDT holds the largest market share, accounting for over 69% of the total stablecoin market cap

Explore the market cap of key stablecoins YTD now

Top #DEX User Stats:

Over the past month, @Uniswap continues to lead with 2.19M users
#KyberSwap by @KyberNetwork has the highest growth rate, increasing by 32.5% MoM

GameFi Market Analysis | Levers Up in 2024

Key Takeaways:

- VC interest in #GameFi is soaring!
- The number of active users is increasing steadily MoM
- #BNBChain leads with highest active games
- #Ronin has the highest active users
- Mining games are gaining traction

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#Bitcoin continues to lead the pack with the highest number of new monthly DeFi users, far surpassing #EVM and #Solana

In April, new #DeFi users on Bitcoin = 4.7x EVM = 3.7x Solana

DEX Activity of Top Blockchains over the past month

@solana outperforms other blockchains, leading with 210M #DEX transactions

#Solana $SOL