One of the leading Web3 analytics companies, Messari, has released its new report analyzing the performance of 14 L1 blockchains in Q1 2023.
Messari has published a report called State of L1s Q1 2023, which takes a detailed look at blockchains like Avalanche, BNB Chain, Cardano, Ethereum, Harmony, Hedera, NEAR, Polkadot, Polygon, Solana, Stacks, Tezos, TRON, and WAX. . We familiarize ourselves with the document and share the key points of the study.
Ethereum remains the absolute leader in terms of the number of transactions, revenue received, and token value. Blockchain Vitalik Buterin in the first quarter was able to earn $457 million with a capitalization of $216 billion. In second place is Binance’s BNB Chain with a capitalization of $50 billion and $57 million in revenue. Close behind are Cardano and Polygon.
According to Messari, BNB and Ethereum are the only deflationary tokens in Q1 2023 at -5.4% and -0.2% respectively. The tokens of the rest of the listed blockchains were inflationary, meaning they benefited those who staked them, and not ordinary holders.
The number of completed transactions did not increase compared to the fourth quarter of 2022, despite the market recovery. On average, there were 2% fewer transactions per day. The exception was the Stacks network, which saw a 34 percent increase in active users. NEAR showed the largest increase in average daily active addresses year-over-year: 157%. Messari attributes this to the launch of the Sweat Economy project.
Despite high Gas levels during the quarter, Ethereum remained the leading blockchain for NFT trading. Marketplace Blur was able to carve out its role as the main platform of the network at the beginning of the year thanks to AirDrop and an aggressive advertising campaign. As a result, Ethereum’s share of the average weekly NFT trading volume across all blockchains increased by 28% compared to the previous quarter.
Author:
Grigory Shcheglov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
