Weekly Layers 1 & 2 Update (Week 7, 15/02/2022 – 21/02/2022)

EthereumDenver ends with 30 hackathon finalists addressing ETH adoption barriers. Twitter launches ETH tipping feature. CRO rebrands from Crypto.org Coin to Cronos.

Feb 22, 2022
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Key Takeaways

  • At the closing ceremony for the ETHDenver conference on Sunday, 30 hackathon finalists took aim at adoption barriers, with a range of submissions primarily focused on solving common pain points across the Ethereum (ETH) ecosystem.
  • Twitter now allows users to give and receive Ethereum (ETH) tips natively. Users looking to receive ETH tips simply need to enable the platform’s tipping features and add an Ethereum address to the dedicated section of their profile.
  • The Crypto.org Coin has been officially rebranded to Cronos (CRO). The rebrand reflects the decentralisation of the coin and the growth of the Cronos ecosystem.
  • Cronos (CRO) saw a +11.87% increase in total transactions to 17.25M and a decrease of TVL to $2.26B (-5.46% week-on-week). The total number of wallet addresses now stands at 388,387, up +10.70% from last week.

Highlights

Layer 1 Project Metrics

EthereumTerraAvalancheSolanaFantomBinance Smart ChainCronos
Market Cap of Native Coin$310.44B$19.67B$17.19B$26.72B$3.91B$60.37B$9.75B
7-Day Change-10.35%-10.04%-4.92%-4.95%-9.41%-5.15%-14.00%
Total Value Locked (TVL)$115.18B$15.77B$10.47B$7.16B$7.36B$12.21B$2.26B
7-Day Change-3.20%+8.12%-1.85%-8.47%-11.31%-7.39%-5.46%
Cap / TVL2.7x1.25x1.64x3.73x0.53x4.95x4.31x
7-Day Avg. Daily Volume (Native Coin)$13.42B$0.82B$0.96B$1.36B$0.49B$1.07B$0.15B
7-Day Change-7.23%-40.11%-7.70%-22.02%-30.92%-20.92%-30.10%
Price of Native Coin$2,587.82$50.49$69.80$83.36$1.54$358.32$0.38
7-Day Change-11.85%-6.31%-14.84%-13.57%-20.36%-11.21%-18.26%
Total # of Transactions since Launch1.48B101.65M†59.06B197.92M2.53B17.25M
# of Nodes/Validators5,9221301,2911,543592126
Market Cap of Native Coin
Ethereum$310.44B
Terra$19.67B
Avalanche$17.19B
Solana$26.72B
Fantom$3.91B
Binance Smart Chain$60.37B
Cronos$9.75B
7-Day Change
Ethereum-10.35%
Terra-10.04%
Avalanche-4.92%
Solana-4.95%
Fantom-9.41%
Binance Smart Chain-5.15%
Cronos-14.00%
Total Value Locked (TVL)
Ethereum$115.18B
Terra$15.77B
Avalanche$10.47B
Solana$7.16B
Fantom$7.36B
Binance Smart Chain$12.21B
Cronos$2.26B
7-Day Change
Ethereum-3.20%
Terra+8.12%
Avalanche-1.85%
Solana-8.47%
Fantom-11.31%
Binance Smart Chain-7.39%
Cronos-5.46%
Cap / TVL
Ethereum2.7x
Terra1.25x
Avalanche1.64x
Solana3.73x
Fantom0.53x
Binance Smart Chain4.95x
Cronos4.31x
7-Day Avg. Daily Volume (Native Coin)
Ethereum$13.42B
Terra$0.82B
Avalanche$0.96B
Solana$1.36B
Fantom$0.49B
Binance Smart Chain$1.07B
Cronos$0.15B
7-Day Change
Ethereum-7.23%
Terra-40.11%
Avalanche-7.70%
Solana-22.02%
Fantom-30.92%
Binance Smart Chain-20.92%
Cronos-30.10%
Price of Native Coin
Ethereum$2,587.82
Terra$50.49
Avalanche$69.80
Solana$83.36
Fantom$1.54
Binance Smart Chain$358.32
Cronos$0.38
7-Day Change
Ethereum-11.85%
Terra-6.31%
Avalanche-14.84%
Solana-13.57%
Fantom-20.36%
Binance Smart Chain-11.21%
Cronos-18.26%
Total # of Transactions since Launch
Ethereum1.48B
Terra
Avalanche101.65M†
Solana59.06B
Fantom197.92M
Binance Smart Chain2.53B
Cronos17.25M
# of Nodes/Validators
Ethereum5,922
Terra130
Avalanche1,291
Solana1,543
Fantom59
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, Cronos Explorer, DeFi Llama

Layer 2 Project Metrics

PolygonLightning NetworkRonin Sidechain†Optimistic EthereumArbitrumBoba
TVL/ Capacity on Network$4.03B$128.93M$620.11M$321M$2.14B$66.19M
Total Transactions1.42B314.28M7.26M350,651
Nodes/ Unique Addresses7234,89710.08M399,04317,090
TVL/ Capacity on Network
Polygon$4.03B
Lightning Network$128.93M
Ronin Sidechain†$620.11M
Optimistic Ethereum$321M
Arbitrum$2.14B
Boba$66.19M
Total Transactions
Polygon1.42B
Lightning Network
Ronin Sidechain†314.28M
Optimistic Ethereum
Arbitrum7.26M
Boba350,651
Nodes/ Unique Addresses
Polygon72
Lightning Network34,897
Ronin Sidechain†10.08M
Optimistic Ethereum
Arbitrum399,043
Boba17,090
* 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

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