The report provides an analysis of 16 Layer-1 (L1) blockchain protocols for the second quarter of 2023. The report highlights key trends such as Ethereum (ETH) outperforming other alternative L1 tokens, the rise of liquid staking and LSTfi, growth in Cardano’s DeFi ecosystem, and a surge in activity on Avalanche’s C-Chain tied to LayerZero.
- Ethereum’s Dominance: Ethereum (ETH) has been outperforming other alternative L1 tokens, indicating a strong market position and user preference.
- Liquid Staking and LSTfi: The rise of liquid staking and LSTfi suggests a growing trend towards liquidity solutions in the staking ecosystem.
- Cardano’s DeFi Growth: Cardano’s DeFi ecosystem has been experiencing significant growth, indicating a potential area of investment.
- Avalanche’s C-Chain Activity: A surge in Avalanche’s C-Chain activity tied to LayerZero suggests increasing utilization of Avalanche’s platform and potential growth in its ecosystem.