Thread by @SOCKETProtocol

Howdy farmers👩‍🌾!

In ‘21, ecosystem went multichain as 1/3rd of Ethereum TVL migrated away

The multi-chain future is now firmly the multi-chain present

Introducing “Multichain Bytes”–a data driven weekly activity overview to help you stay on top of trends! 🧵 1/n

2/n

Multi-Chain Bytes at a Glance (1-28 Jan'22):

- @FantomFDN clear frontrunner with big growth across multiple metrics 📈
- NFT szn beginning with sales uptick on @opensea, @Avalancheavax🖼️
- Market drawdowns in January led to drop in TVL on most chains 🐻

3/n

Total Value Locked:

🔼 Highest Gainers - $FTM $AVAX $MATIC

🔽 Biggest Loser - $SOL

ve(3,3) & the resulting liquidity rush on @FantomFDN attracted over $7.8B in capital growing TVL by +141% in Jan

@0xPolygon TVL rose by 50% with increasing DeFi and P2E activity

4/n

Daily Transactions:

@FantomFDN and @Avalancheavax approaching Ethereum in daily txn volumes

- @FantomFDN +42%
- @avalancheavax +23%
- @0xPolygon -24%

- Fantom averaged 11.1m txns/day for the week ending 28 Jan
- Polygon drop from @0xSunflowerLand bot attack decline

5/n

Daily Active Addresses:

Polygon recorded the biggest decline in daily active wallets while Fantom saw a sharp rise in weekly active wallets

- @FantomFDN +20%
- @0xPolygon -38%

@0xSunflowerLand bot attack decline explains drop on Polygon

6/n

Average Txn Fees(in USD):

- Avg txn fee on @FantomFDN increased by 15% despite a drop in Fantom’s price due to higher activity

- @0xPolygon continues to remain the cheapest chain among other L1s

- 58% fees drop on Polygon is also due to fix post SunflowerLand bot attack

7/n

Dapp Growth:

- Inspite of markets, developers continue to BUIDL with dapp activity increasing on all chains🛠️

- Fantom frenzy attracted more dev interest leading to a +26% increase in new Dapps from 104->131 in just 3 weeks🤯

- ETH remains chain with most dapps👑

8/n

NFT activity on Ethereum:

- A mini nft season began fuelled by @LooksrareNFT. Analysts believe wash trading could be artificially pumping volumes on LooksRare!

- @Opensea volumes have increased +88% MoM from Dec'21 to Jan'22 achieving historic volumes of $5.5B

9/n

NFT activity on other chains:

- Non-Ethereum chains like @Avalancheavax, @WAX_io &
@flow_blockchain too saw a huge jump in NFT activity.

- Avalanche saw a +84% MoM growth in NFT sales

- In this category, @Solana leads the pack with daily avg. volumes of $6.1M in Jan’ 22

10/n

L2 Migration:

2022 is considered by the industry as the year of the great #L222 migration!

- @Arbitrum leads the pack dominating with 51% TVL mkt share amongst all L2s!

- @MetisDAO saw a significant jump catalyzed by launch of first native DEX @netswapofficial

11/n

Optimistic Growth:
- Daily txns on @optimismPBC grew by 52% & by 32% on @arbitrum since start of Jan

- No. of dapps grew from 13 to 18 (+35%) on @optimismPBC , while it grew from 48 to 51 (+5%) on @arbitrum

- TVL decreased on both cuz of price drop

12/n

Sources:
@coingecko
@etherscan
@bscscan
@polygonscan
@SnowTraceHQ
@DefiLlama
@DappRadar
@DuneAnalytics
@nansen_ai
@FtmScanHQ
@CoinMarketCap
@cryptoslamio
@pierreyvesg7
@l2beatcom

13/n

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