Exceptional Q3 Performance: Aptos Network’s 160% Revenue Surge
In Q3, the Ethereum network remained a dominant force, contributing over 90% of the $491.5 million in revenue generated by layer 1 chains, despite a 47.3% QoQ revenue decline.
Notably, only Avalanche and Polygon experienced steeper drops. The total revenues of the 17 examined L1s decreased by 46.7%, aligning with a 9.8% reduction in the L1s’ market capitalization to $272.6 billion. Ethereum’s market dominance persisted. However, the Aptos network demonstrated exceptional performance, boasting a 160% revenue increase attributed to the integration of Chingari in July. NEAR also saw a 56% revenue growth driven by the launch of the AI-based lock screen platform Kaikainow.
Solana led in average daily transactions (24.7 million), followed by WAX, BNB Chain, and Polygon. Surprisingly, despite significant revenue contribution, Ethereum ranked fifth in daily transaction throughput. SKALE experienced a remarkable 241% growth in transactions, while NEAR led with a 346% increase in daily active addresses. In decentralized finance, the total value locked (TVL) dropped by 16.4% to $31.9 billion, with Ethereum contributing 82.4% to this figure.
Clever Robot News Desk 21st November 2023
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