Weekly Layers 1 & 2 Update (Week 6, 08/02/2022 – 14/02/2022)

BTC network hashrate ATH at 248.11 EH/s. ETHDenver kicks off BUIDL Week with Colorado Gov. Jared Polis, Ethereum co-founder Vitalik Buterin, Kimbal Musk, and Cronos Chain Managing Director Ken Timsit. CRO TVL rises to $2.38B, total transactions up to 15.42M.

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Key Takeaways

  • The Bitcoin (BTC) network hashrate has exploded to a new all-time high of 248.11 EH/s. The network hashrate jumped 31.69% — from 188.40 EH/s to 248.11 EH/s — on 13 February, further ensuring resilience against attacks on the Bitcoin network.
  • ETHDenver, the world’s largest Web3 conference, kicks off its BUIDL Week on 11 February. Notable participants this year include Governor Jared Polis, South African entrepreneur (and brother to Elon) Kimbal Musk, and Ethereum (ETH) co-inventor Vitalik Buterin, who will sit for a live AMA.
  • The Cronos (CRO) team is coming to ETHDenver. Cronos Chain & Particle B Managing Director Ken Timsit will speak on 15 February to discuss cross-chain connectivity for new L1s.
  • Cronos (CRO) saw a +10.14% increase in total transactions to 15.42M and an increase of TVL to $2.38B (+6.73% week-on-week). The total number of wallet addresses now stands at 350,847, up +1.89% from last week.

Highlights

Layer 1 Project Metrics

EthereumTerraAvalancheSolanaFantomBinance Smart ChainCronos
Market Cap of Native Coin$363.05B$22.08B$20.78B$32.53B$5.07B$69.55B$12.20B
7-Day Change-8.26%-13.90%-6.08%-20.46%-17.99%-8.02%+2.17%
Total Value Locked (TVL)$121.51B$14.78B$10.75B$7.97B$8.42B$13.39B$2.38B
7-Day Change+0.90%-2.05%+4.90%-6.47%-5.27%-1.04%+6.48%
Cap / TVL2.99x1.49x1.93x4.08x0.6x5.19x5.14x
7-Day Avg. Daily Volume (Native Coin)$14.46B$1.38B$1.04B$1.74B$0.71B$1.36B$0.21B
7-Day Change-2.22%-23.18%+41.31%-25.39%-5.94%+11.95%+74.69%
Price of Native Coin$3,034.56$55.40$84.72$101.89$2.00$413.57$0.48
7-Day Change-3.66%-7.06%+1.55%-13.41%-13.97%-4.70%-2.86%
Total # of Transactions since Launch1.47B94.93M†57.67B190.96M2.49B15.42M
# of Nodes/ Validators554513012461517572126
* % 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$4.99B$150.2M$620.11M$344.37M$2.16B$99M
Total Transactions1.40B308.72M6.68M332,568
Nodes/ Unique Addresses7134,63610.01M389,85416,654
* 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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