🎉🚀 Breaking news, BTC enthusiasts! Ethereum and its Layer 2 scaling solution, Polygon, are making waves in the crypto world! 🌊💥 They've attracted the most new users in Q1 2024, according to a report by Flipside.
Polygon welcomed 12.3 million newbies, while Ethereum had a whopping 13.4 million - that's around 70% of new users across all observed chains! 🎈🎉 But let's not forget Arbitrum, which also had a significant influx of new users (4.7 million).
📈💰 DeFi is the main driver of this growth, with trade volume surging since the start of the year. Ethereum leads the pack with a cumulative $1 billion in trade volume. 🚀🌕
While DeFi trading activity on Optimism and Arbitrum saw slight declines recently, overall, DeFi activity has been on a consistent upward trajectory. 📈🚀
Arbitrum, although lagging behind Ethereum and Polygon in new users, secured a strong second position in new user trading volume, amassing $9.5 billion since the start of 2024. 🥈💪
NFT activity among new users has shown mixed results, with Ethereum and Polygon maintaining the highest USD volume of NFT transactions since the beginning of the year. 🎨🖼️
Stay tuned for more exciting updates in the crypto world! 🌐💫