Crypto.com Layers 1 & 2 Weekly Update (Week 2, 11/1/2022-17/1/2022)

BTC hash rate jumped over 100% in 6 months. Polygon launches Plonky2 zero-knowledge scaling.

Jan 11, 2022
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Key Takeaways

  • The Bitcoin (BTC) hash rate has witnessed a jump of more than 100% in the last six months. Glassnode’s data shows that BTC’s mean hash rate has touched a new all-time high of 183 Exahash.
  • Polygon (MATIC), a layer-two Ethereum (ETH) scaling solution, has announced the launch of Plonky2, a zero-knowledge scaling technology. The move comes after Polygon allocated $1 billion to the advancement of zero-knowledge technology.
  • Proof-of-stake blockchain Near Protocol (NEAR) has raised $150 million in seed investments to accelerate the adoption of Web3 technologies. The team announced that the fund would be used to develop regional hubs and raise awareness for blockchain and decentralised tech.
  • The two month-long Cronos (CRO) Hackathon has concluded with 62 total submissions and 16 winners across 5 categories. The Grand Prize went to #dev DeFi, a decentralised aggregate lending and borrowing protocol built on the Cronos Chain.
  • Cronos (CRO) saw a +8.06% increase in total transactions to 11.00M and an increase of TVL to $1.86B (+2.20% week-on-week). The total number of wallet addresses now stands at 332,542, up +4.93% from last week.

Highlights

Layer 1 Project Metrics

EthereumTerraAvalancheSolanaFantomBinance Smart ChainCronos
Market Cap of Native Coin$383.38B$27.70B$21.22B$44.01B$7.43B$79.91B$11.33B
7-Day Change+8.86%+26.04%+9.39%+9.76%+46.98%+17.40%+4.51%
Total Value Locked (TVL)$143.73B$17.93B$10.59B$9.86B$7.49B$14.81B$1.86B
7-Day Change+1.94%+9.15%-1.95%+5.15%+42.10%-0.64%+4.21%
Cap / TVL2.67x1.54x2.0x4.46x0.99x5.4x6.09x
7-Day Avg. Daily Volume (Native Coin)$13.41B$2.01B$0.71B$1.56B$1.56B$1.88B$0.15B
7-Day Change-22.95%-5.60%-23.15%-16.05%-9.82%+1.36%30.12%
Price of Native Coin$3,218.5$77.44$86.84$140.21$2.94$475.54$0.45
7-Day Change+4.27%+11.59%+2.83%+3.11%+32.20%+11.81%+0.63%
Total # of Transactions since Launch1.44B70.10M†50.67B163.06M2.33B11.00M
# of Nodes /
Validators
604813012011221512126
Market Cap of Native Coin
Ethereum$383.38B
Terra$27.70B
Avalanche$21.22B
Solana$44.01B
Fantom$7.43B
Binance Smart Chain$79.91B
Cronos$11.33B
7-Day Change
Ethereum+8.86%
Terra+26.04%
Avalanche+9.39%
Solana+9.76%
Fantom+46.98%
Binance Smart Chain+17.40%
Cronos+4.51%
Total Value Locked (TVL)
Ethereum$143.73B
Terra$17.93B
Avalanche$10.59B
Solana$9.86B
Fantom$7.49B
Binance Smart Chain$14.81B
Cronos$1.86B
7-Day Change
Ethereum+1.94%
Terra+9.15%
Avalanche-1.95%
Solana+5.15%
Fantom+42.10%
Binance Smart Chain-0.64%
Cronos+4.21%
Cap / TVL
Ethereum2.67x
Terra1.54x
Avalanche2.0x
Solana4.46x
Fantom0.99x
Binance Smart Chain5.4x
Cronos6.09x
7-Day Avg. Daily Volume (Native Coin)
Ethereum$13.41B
Terra$2.01B
Avalanche$0.71B
Solana$1.56B
Fantom$1.56B
Binance Smart Chain$1.88B
Cronos$0.15B
7-Day Change
Ethereum-22.95%
Terra-5.60%
Avalanche-23.15%
Solana-16.05%
Fantom-9.82%
Binance Smart Chain+1.36%
Cronos30.12%
Price of Native Coin
Ethereum$3,218.5
Terra$77.44
Avalanche$86.84
Solana$140.21
Fantom$2.94
Binance Smart Chain$475.54
Cronos$0.45
7-Day Change
Ethereum+4.27%
Terra+11.59%
Avalanche+2.83%
Solana+3.11%
Fantom+32.20%
Binance Smart Chain+11.81%
Cronos+0.63%
Total # of Transactions since Launch
Ethereum1.44B
Terra
Avalanche70.10M†
Solana50.67B
Fantom163.06M
Binance Smart Chain2.33B
Cronos11.00M
# of Nodes /
Validators
Ethereum6048
Terra130
Avalanche1201
Solana1221
Fantom51
Binance Smart Chain21
Cronos26
* % change is based on the difference between two subsequent bi-weekly periods
† X-Chain total transactions plus C-Chain total transactions
 ‘-’ denotes missing, unavailable, or incomplete data
Sources: Coingecko, Etherscan, Ethernodes, Terra Station, Terra Etherscan, Avascan, Solana Beach, FTMscan, BSCscan, CronoScan, DeFi Llama

Layer 2 Project Metrics

PolygonLightning NetworkRonin Sidechain†Optimistic EthereumArbitrumBoba
TVL/ Capacity on Network$5.42B$140.79M$957.88M$295.7M$1.85B$97.46M
Total Transactions1.31B280.78M5.22M291,420
Nodes / Unique Addresses10032,9499.55M349,98215,783
TVL/ Capacity on Network
Polygon$5.42B
Lightning Network$140.79M
Ronin Sidechain†$957.88M
Optimistic Ethereum$295.7M
Arbitrum$1.85B
Boba$97.46M
Total Transactions
Polygon1.31B
Lightning Network
Ronin Sidechain†280.78M
Optimistic Ethereum
Arbitrum5.22M
Boba291,420
Nodes / Unique Addresses
Polygon100
Lightning Network32,949
Ronin Sidechain†9.55M
Optimistic Ethereum
Arbitrum349,982
Boba15,783
* Figure refers to Lightning nodes with active channels
† Ronin is the sidechain developed by Sky Mavis for Axie Infinity
 ‘-’ denotes missing, unavailable, or incomplete data
Sources:  DeFi Llama, Polygonscan, Clark Moody Bitcoin, 1ML, Ronin Explorer, Coingecko, Optimistic Etherscan, Arbiscan, Boba Explorer

Tags

bitcoin

Cronos

EIP-1559

layer 1

layer 2

Polygon

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