Weekly Layers 1 & 2 Update (Week 9, 01/03/2022 – 07/03/2022)

ETH mining revenues reach USD 1.19B in February. Layer 2 solution Immutable raises $200M. CRO TVL grows 22.01% week-on-week to $2.38B.

Mar 08, 2022
L1L2 (1200x728)

Key Takeaways

  • Ethereum (ETH) miners generated USD 1.19B in revenues in February. Roughly 87% of the revenues came from block subsidies, while around 13% came from transaction fees.
  • Layer 2 solution Immutable X (IMX) was the key target for a $200M raise in a Series C round for developer Immutable. The solution uses technology from Starkware to achieve scalability and remove gas fees.
  • Cronos (CRO) saw a +7.96% increase in total transactions to 19.94M, while its TVL grew to $2.38B (+22.01% week-on-week). The total number of wallet addresses now stands at 515,586, up +27.76% from last week.

Highlights

Layer 1 Project Metrics

EthereumTerraAvalancheSolanaFantomBinance Smart ChainCronos
Market Cap of Native Coin$304.01B$29.33B$19.39B$26.56B$3.38B$64.42B$9.70B
7-Day Change-12.14%-15.09%-6.67%-15.73%-20.37%-5.04%-10.41%
Total Value Locked (TVL)$106.90B$22.13B$10.63B$6.72B$7.10B$11.95B$2.38B
7-Day Change-5.85%-3.57%-3.48%-9.96%-39.49%-7.53%+22.01%
Cap / TVL2.84x1.33x1.82x3.95x0.48x5.39x4.07x
7-Day Avg. Daily Volume (Native Coin)$14.75B$2.93B$1.23B$2.03B$1.17B$1.46B$0.10B
7-Day Change-19.24%+13.92%-10.54%-4.85%+31.99%-1.39%-27.36%
Price of Native Coin$2,537.37$79.94$72.85$82.65$1.33$382.93$0.38
7-Day Change-13.08%-12.41%-13.63%-17.00%-25.31%-3.26%-12.63%
Total # of Transactions since Launch1.50B115.82M†61.80B215.10M2.60B19.94M
# of Nodes/Validators6,3881301,2361,581592126
Market Cap of Native Coin
Ethereum$304.01B
Terra$29.33B
Avalanche$19.39B
Solana$26.56B
Fantom$3.38B
Binance Smart Chain$64.42B
Cronos$9.70B
7-Day Change
Ethereum-12.14%
Terra-15.09%
Avalanche-6.67%
Solana-15.73%
Fantom-20.37%
Binance Smart Chain-5.04%
Cronos-10.41%
Total Value Locked (TVL)
Ethereum$106.90B
Terra$22.13B
Avalanche$10.63B
Solana$6.72B
Fantom$7.10B
Binance Smart Chain$11.95B
Cronos$2.38B
7-Day Change
Ethereum-5.85%
Terra-3.57%
Avalanche-3.48%
Solana-9.96%
Fantom-39.49%
Binance Smart Chain-7.53%
Cronos+22.01%
Cap / TVL
Ethereum2.84x
Terra1.33x
Avalanche1.82x
Solana3.95x
Fantom0.48x
Binance Smart Chain5.39x
Cronos4.07x
7-Day Avg. Daily Volume (Native Coin)
Ethereum$14.75B
Terra$2.93B
Avalanche$1.23B
Solana$2.03B
Fantom$1.17B
Binance Smart Chain$1.46B
Cronos$0.10B
7-Day Change
Ethereum-19.24%
Terra+13.92%
Avalanche-10.54%
Solana-4.85%
Fantom+31.99%
Binance Smart Chain-1.39%
Cronos-27.36%
Price of Native Coin
Ethereum$2,537.37
Terra$79.94
Avalanche$72.85
Solana$82.65
Fantom$1.33
Binance Smart Chain$382.93
Cronos$0.38
7-Day Change
Ethereum-13.08%
Terra-12.41%
Avalanche-13.63%
Solana-17.00%
Fantom-25.31%
Binance Smart Chain-3.26%
Cronos-12.63%
Total # of Transactions since Launch
Ethereum1.50B
Terra
Avalanche115.82M†
Solana61.80B
Fantom215.10M
Binance Smart Chain2.60B
Cronos19.94M
# of Nodes/Validators
Ethereum6,388
Terra130
Avalanche1,236
Solana1,581
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 EthereumArbitrumBobaMetis Andromeda
TVL/ Capacity on Network$3.65B$133.7M$620.11M$307.24M$2.01B$55.8M$300.5M
Total Transactions1.46B323.35M8.32M386,5811.19M
Nodes/ Unique Addresses6835,28610.15M434,77217,62052,470
TVL/ Capacity on Network
Polygon$3.65B
Lightning Network$133.7M
Ronin Sidechain†$620.11M
Optimistic Ethereum$307.24M
Arbitrum$2.01B
Boba$55.8M
Metis Andromeda$300.5M
Total Transactions
Polygon1.46B
Lightning Network
Ronin Sidechain†323.35M
Optimistic Ethereum
Arbitrum8.32M
Boba386,581
Metis Andromeda1.19M
Nodes/ Unique Addresses
Polygon68
Lightning Network35,286
Ronin Sidechain†10.15M
Optimistic Ethereum
Arbitrum434,772
Boba17,620
Metis Andromeda52,470
* 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

Tags

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Total Value Locked

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