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.

Feb 15, 2022
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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
Market Cap of Native Coin
Ethereum$363.05B
Terra$22.08B
Avalanche$20.78B
Solana$32.53B
Fantom$5.07B
Binance Smart Chain$69.55B
Cronos$12.20B
7-Day Change
Ethereum-8.26%
Terra-13.90%
Avalanche-6.08%
Solana-20.46%
Fantom-17.99%
Binance Smart Chain-8.02%
Cronos+2.17%
Total Value Locked (TVL)
Ethereum$121.51B
Terra$14.78B
Avalanche$10.75B
Solana$7.97B
Fantom$8.42B
Binance Smart Chain$13.39B
Cronos$2.38B
7-Day Change
Ethereum+0.90%
Terra-2.05%
Avalanche+4.90%
Solana-6.47%
Fantom-5.27%
Binance Smart Chain-1.04%
Cronos+6.48%
Cap / TVL
Ethereum2.99x
Terra1.49x
Avalanche1.93x
Solana4.08x
Fantom0.6x
Binance Smart Chain5.19x
Cronos5.14x
7-Day Avg. Daily Volume (Native Coin)
Ethereum$14.46B
Terra$1.38B
Avalanche$1.04B
Solana$1.74B
Fantom$0.71B
Binance Smart Chain$1.36B
Cronos$0.21B
7-Day Change
Ethereum-2.22%
Terra-23.18%
Avalanche+41.31%
Solana-25.39%
Fantom-5.94%
Binance Smart Chain+11.95%
Cronos+74.69%
Price of Native Coin
Ethereum$3,034.56
Terra$55.40
Avalanche$84.72
Solana$101.89
Fantom$2.00
Binance Smart Chain$413.57
Cronos$0.48
7-Day Change
Ethereum-3.66%
Terra-7.06%
Avalanche+1.55%
Solana-13.41%
Fantom-13.97%
Binance Smart Chain-4.70%
Cronos-2.86%
Total # of Transactions since Launch
Ethereum1.47B
Terra
Avalanche94.93M†
Solana57.67B
Fantom190.96M
Binance Smart Chain2.49B
Cronos15.42M
# of Nodes/ Validators
Ethereum5545
Terra130
Avalanche1246
Solana1517
Fantom57
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$4.99B$150.2M$620.11M$344.37M$2.16B$99M
Total Transactions1.40B308.72M6.68M332,568
Nodes/ Unique Addresses7134,63610.01M389,85416,654
TVL/ Capacity on Network
Polygon$4.99B
Lightning Network$150.2M
Ronin Sidechain†$620.11M
Optimistic Ethereum$344.37M
Arbitrum$2.16B
Boba$99M
Total Transactions
Polygon1.40B
Lightning Network
Ronin Sidechain†308.72M
Optimistic Ethereum
Arbitrum6.68M
Boba332,568
Nodes/ Unique Addresses
Polygon71
Lightning Network34,636
Ronin Sidechain†10.01M
Optimistic Ethereum
Arbitrum389,854
Boba16,654
* 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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