Research Summary
The report provides an in-depth analysis of the performance of various blockchain networks, focusing on their growth, transaction fees, total value locked (TVL), and daily active addresses. It highlights the performance of high-performance blockchains such as NEAR, Solana, and Sui, and Layer 2 networks like zkSync Era and Aptos. The report also discusses the rise of liquid staking solutions on Sui and the growth of DeFi TVL on Aptos.
Key Takeaways
High-Performance Blockchains and Their Growth
- Explosive Growth: The report highlights the rapid growth of high-performance blockchains over the past year, with over 5M daily active addresses (DAA) in May 2024. NEAR, Solana, and Sui all have over 1M DAAs.
- Reduced Transaction Fees: High-performance blockchains offer a significant reduction in fees compared to older blockchains. Fees are often below $0.1, and many have achieved fees below $0.01.
- Increased TVL: All chains have seen an increase in TVL, with NEAR, Solana, Scroll, StarkNet, and Flow seeing >100% TVL changes in the past three months.
Performance of zkSync Era and Aptos
- zkSync Era: This EVM Compatible ZK-based Layer 2 network on Ethereum has amassed nearly $1B in TVL, more than 375M transactions, and nearly 7M unique active addresses in just over a year.
- Aptos: Aptos’ DeFi TVL increased by 376% in Q1, reaching a peak of $500M in early April. It also surpassed 609M total transactions this week, hitting one of its highest records with 12M transactions this week alone.
Liquid Staking Solutions on Sui
- Rise of Liquid Staking: Liquid staking solutions are on the rise on Sui, allowing users to maintain liquidity while participating in staking across their favorite assets. The amount of staking transactions and active users has steadily increased.
- Leading Liquid Staking Solutions: The top liquid staking solutions on Sui are Headal, Volo, and Aftermath. Volo is the leading LST by SUI staked and currently has the largest market share at 45%.
Actionable Insights
- Monitor High-Performance Blockchains: Given their rapid growth, reduced transaction fees, and increased TVL, high-performance blockchains such as NEAR, Solana, and Sui present potential areas of interest for stakeholders in the blockchain and crypto space.
- Explore zkSync Era and Aptos: The impressive performance of zkSync Era and Aptos, in terms of TVL, transactions, and active addresses, suggests that these Layer 2 networks could offer valuable opportunities for developers and investors.
- Consider Liquid Staking Solutions: The rise of liquid staking solutions on Sui, particularly Headal, Volo, and Aftermath, indicates a growing trend that could provide users with increased liquidity and flexibility in staking their assets.
