Weekly Layers 1 & 2 Update (Week 8, 22/02/2022 – 28/02/2022)

BTC network’s daily raw hashrate sinks to 173.8 EH/s, and then climbs to 214.1 EH/s. ETH 2.0 Beacon Chain validators surpass 300K mark. Luna Foundation Guard raises $1B in reserves for UST.

Mar 01, 2022
L1L2 (1200x728)

Key Takeaways

  • Intraweek, the Bitcoin (BTC) network’s daily raw hashrate dipped to a low of 173.8 EH/s before bouncing up to 214.1 EH/s. The network remained largely unaffected by the ongoing geopolitical conflict.
  • The number of unique validators on the ETH 2.0 Beacon Chain crossed the 300,000 mark. The total number of ETH wallet non-zero addresses reached 76.3M despite volatility in recent weeks.
  • The Luna Foundation Guard raised $1B in reserves to support the Terra network stablecoin (UST) over a four-year vesting period.
  • Cronos (CRO) saw a +7.07% increase in total transactions to 18.47M, while its TVL grew to $2.34B (+23.83% week-on-week). The total number of wallet addresses now stands at 403,533, up +3.18% from last week.

Highlights

Layer 1 Project Metrics

EthereumTerraAvalancheSolanaFantomBinance Smart ChainCronos
Market Cap of Native Coin$349.72B$33.62B$21.49B$31.26B$4.76B$66.19B$11.25B
7-Day Change+1.86%+39.82%+6.76%+2.37%+2.86%+0.99%+2.11%
Total Value Locked (TVL)$113.54B$22.67B$11.08B$7.33B$11.77B$12.85B$2.34B
7-Day Change-1.58%+44.19%+6.47%+1.79%+62.06%+4.96%+23.83%
Cap / TVL3.08x1.48x1.94x4.26x0.4x5.15x4.8x
7-Day Avg. Daily Volume (Native Coin)$18.26B$2.57B$1.38B$2.14B$0.89B$1.48B$0.14B
7-Day Change+36.11%+212.06%+43.37%+57.63%+81.44%+37.99%-8.07%
Price ofNative Coin$2,927.68$89.52$87.62$97.75$1.88$395.47$0.45
7-Day Change+13.72%+78.15%+25.13%+17.57%+21.94%+10.79%+15.55%
Total # of Transactions since Launch1.49B108.87M†60.45B207.25M2.57B18.47M
# of Nodes/Validators6,4271301,2641,557582126
Market Cap of Native Coin
Ethereum$349.72B
Terra$33.62B
Avalanche$21.49B
Solana$31.26B
Fantom$4.76B
Binance Smart Chain$66.19B
Cronos$11.25B
7-Day Change
Ethereum+1.86%
Terra+39.82%
Avalanche+6.76%
Solana+2.37%
Fantom+2.86%
Binance Smart Chain+0.99%
Cronos+2.11%
Total Value Locked (TVL)
Ethereum$113.54B
Terra$22.67B
Avalanche$11.08B
Solana$7.33B
Fantom$11.77B
Binance Smart Chain$12.85B
Cronos$2.34B
7-Day Change
Ethereum-1.58%
Terra+44.19%
Avalanche+6.47%
Solana+1.79%
Fantom+62.06%
Binance Smart Chain+4.96%
Cronos+23.83%
Cap / TVL
Ethereum3.08x
Terra1.48x
Avalanche1.94x
Solana4.26x
Fantom0.4x
Binance Smart Chain5.15x
Cronos4.8x
7-Day Avg. Daily Volume (Native Coin)
Ethereum$18.26B
Terra$2.57B
Avalanche$1.38B
Solana$2.14B
Fantom$0.89B
Binance Smart Chain$1.48B
Cronos$0.14B
7-Day Change
Ethereum+36.11%
Terra+212.06%
Avalanche+43.37%
Solana+57.63%
Fantom+81.44%
Binance Smart Chain+37.99%
Cronos-8.07%
Price ofNative Coin
Ethereum$2,927.68
Terra$89.52
Avalanche$87.62
Solana$97.75
Fantom$1.88
Binance Smart Chain$395.47
Cronos$0.45
7-Day Change
Ethereum+13.72%
Terra+78.15%
Avalanche+25.13%
Solana+17.57%
Fantom+21.94%
Binance Smart Chain+10.79%
Cronos+15.55%
Total # of Transactions since Launch
Ethereum1.49B
Terra
Avalanche108.87M†
Solana60.45B
Fantom207.25M
Binance Smart Chain2.57B
Cronos18.47M
# of Nodes/Validators
Ethereum6,427
Terra130
Avalanche1,264
Solana1,557
Fantom58
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 EthereumArbitrumBobaMetis Andromeda
TVL/ Capacity on Network$4.16B$148.83M$620.11M$337.69M$2.22B$61.09M$284.45M
Total Transactions1.44B318.90M7.89M370,3821.01M
Nodes/ Unique Addresses6535,10210.11M414,17117,38049,370
TVL/ Capacity on Network
Polygon$4.16B
Lightning Network$148.83M
Ronin Sidechain†$620.11M
Optimistic Ethereum$337.69M
Arbitrum$2.22B
Boba$61.09M
Metis Andromeda$284.45M
Total Transactions
Polygon1.44B
Lightning Network
Ronin Sidechain†318.90M
Optimistic Ethereum
Arbitrum7.89M
Boba370,382
Metis Andromeda1.01M
Nodes/ Unique Addresses
Polygon65
Lightning Network35,102
Ronin Sidechain†10.11M
Optimistic Ethereum
Arbitrum414,171
Boba17,380
Metis Andromeda49,370
* 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, Andromeda Metis Explorer

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