Growth of some applications and services built on the Ethereum network have more than doubled in the first quarter of this year compared to last year, even as other blockchains gained favor among investors, research shows. By shauryamalwa
Value locked on layer 2, or scaling services built atop Ethereum, increased 964% to $7.3 billion in Q1 2022 compared to $686.9 million in Q1 2021, analysts at Bankless wrote in a
However, the number of active addresses interacting with the Ethereum network on a daily basis rose by just 4%. This could imply most existing activity on Ethereum came from prior users instead of new market entrants, some analysts said.
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