Etherum’s CRIPTO domination is an excessive council

Etherum Relative Domination Among Layer-1 (L1) Blokschain The Network has declined, resulting in a “open race” to become a leading website, according to Alek Svanevik, General Data Manager Data Nansen.

“If you asked me 3-4 years, would Ethere dominate the crypt, I’d say yes,” Svanevik said during the discussion panel on the length of cointelegraph. “But now it’s clear that it’s not happening.”

Etherum is still the most popular L1 network. According to the data from the defilay, it is approximately $ 52 billion in the total value of locked (TVL) represents 51% crychain-free cryptocurrian.

However, the dominance of Ethereum decreased sharply from 2021. years, when L1 controlled as much as 96% of aggregate TVL, data is displayed.

“It’s an open race between multiple L1’s for becoming a platform for trade and wider use of the block”, Svanevik said.

“We see less chains have extremely fast, and a group of five or six chains that appear as leaders. It’s an exciting time,” he said.

COINTELEGRAPH’s Length is a series of events that gathers leaders and innovators from the block and web3 space for exclusive discussions.

Climb solena

Solana (Salt), alternative layer-1 known for faster transactions and lower fees than etherema, is at a gender to become the next leading of the Web3, according to the Executive Director.

“Solana exaggerated Etherum to the highest metric on Orchain – active addresses, the scope of the transaction, even at gas fees,” Svanevik said. “Etherum still leads in TVL, and the issuance of stablecoins is still strong, but solan growth is undisputed.”

Meanwhile, dozens of smaller L1 was also interested in the market share – and not everyone received sustainable traction, Vardan Khachatrian, the main legal officer for platform Fasteks, told cointelegraph.

“Unfortunately, what we see in reality is that chains become popular when it is a hyper that particular bike management, new coins, etc., not to maintain adoption,” Kahatrian said.

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