In a latest attention-nabbing occasion witnessed inside the cryptocurrency sector, Solana, a famend layer 1 blockchain, emerged because the main platform when it comes to on-chain monetary exercise as its complete transaction charges rocketed practically 400%. This chronicle aided Solana in surpassing BNB Chain & Tron in complete transactional charges collected. However, Ethereum stays on the high of the price generator listing, with transactional charges collected round $606 million.
Meanwhile, layer 1 blockchains Ethereum and Solana embarked upon further strides, scaling new year-to-date highs not too long ago. Concurrently, Fantom and the NEAR blockchain adopted the layer 1 frenzy, moreover showcasing important developments regarding their respective cryptographic ventures.
Layer 1 Blockchains Flourish
According to the insights revealed by the on-chain metrics tracker ‘The Block Pro,’ March concluded on an optimistic word for Ethereum, Soalana, Fantom, and NEAR, layer 1 blockchains.
Concerning this, Ethereum & Solana scaled new year-to-date highs of roughly $4,094 and $210, respectively, fueling market optimism amongst buyers. Simultaneously, Solana’s complete worth locked (TVL) grew round 91%, second solely to Ethereum, which noticed a MoM TVL enhance of approx. $3.8 billion.
Meanwhile, Fantom, NEAR, and Solana famous important positive aspects in market cap, with MoM will increase of roughly 115%, 88%, and 62%, respectively. These positive aspects are primarily attributed to NEAR’s announcement of its information availability layer and Fantom’s upcoming Sonic community improve, whereas Solana’s gains are attributed to a plethora of causes.
Notably, the Fantom Sonic community improve goals to considerably improve transaction speeds to 2,000 transactions per second (TPS) and enhance decentralized finance (DeFi) help. Whereas, NEAR’s information availability layer announcement is an economical and safe information availability resolution for Ethereum builders and rollups.
This collectively paints an optimistic outlook for the abovementioned layer 1 blockchains out there, with Solana and Ethereum, particularly, making appreciable developments with their cryptographic ventures. In the interim, the native tokens of those blockchains, ETH, SOL, NEAR, & FTM, conversely mirrored a consolidation part out there.
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ETH, SOL, NEAR, & FTM Prices Slip
Despite the noteworthy developments talked about above, the broader market braces itself because the upcoming BTC halving nears. Aligning with this sentiment, cryptocurrencies seem like witnessing fairly a turbulent shift in market dynamics, accompanied by extremely unstable value actions.
Ethereum’s value fell 1.66% previously 24 hours and at present rests at $3,454. Solana trades at $167.04, with a 3.02% drop previously 24 hours. NEAR token jotted a 5.50% drop previously 24 hours and at present stands at $6.56. Lastly, Fantom (FTM) token fell 6% over the previous day, at present at $0.8688.
Also Read: Messari CEO Eager To Join SEC Investor Advisor Committee, A Pro-Crypto Move?
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