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.

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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
* % 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
* 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

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