TVL

Ethereum DApp volumes gain 38% in a month — Will ETH price follow?

November 19, 2024 Coin Telegraph

bnb

Everything but ETH seems to be rallying, even though Ethereum’s DApp volumes are surging. What gives?

Ether (ETH) price has struggled to maintain levels above $3,200 between Sept. 13 and Sept. 19. However, onchain metrics have improved, particularly when compared to some of Ethereum’s direct competitors. Traders are now questioning how long it will take for Ether to resume its bull run, given its dominance in fees and network deposits.

Blockchains ranked by 30-day DApps volumes, USD. Source: DappRadar

No blockchain comes close to Ethereum's $149.9 billion in onchain volumes over the past 30 days. The second-largest competitor, BNB Chain (BNB), reached only $26.6 billion, 82% smaller despite offering much lower transaction fees. More importantly, Ethereum’s activity grew by 37.7% over the past month, while BNB Chain saw a 6% decline in volume.

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Defi Nears $100 Billion Milestone as Crypto Market Heats Up

November 7, 2024 Bitcoin.com

Defi Nears 0 Billion Milestone as Crypto Market Heats Up

bitcoin.com

According to the latest data, the crypto economy’s 2.45% climb over the last day is pushing the total value locked in decentralized finance (defi) protocols tantalizingly close to a $100 billion milestone. $100 Billion in Sight in the Wide World of Defi Protocols As of 11 a.m. Eastern Time (ET) on Thursday, the total value […]

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Solana rally follows Bitcoin price as SOL data points to traders’ $200 target

November 5, 2024 Coin Telegraph

Bitcoin

Solana gains alongside Bitcoin’s US election-related rally, and data hints that SOL price could hit $200.

Solana’s native token SOL (SOL) opened the day with a 5.3% gain to trade slightly above $167. The move accompanied Bitcoin’s (BTC) US election day rally to $70,550, and for many traders, the desired target for SOL rests closer to $200.

Currently, onchain data and derivatives market metrics suggest that SOL’s rally could continue in the short-term.

Solana continues to lead in decentralized exchange (DEX) volumes, a clear indicator of user activity and transaction fees, both of which are crucial for fostering sustainable growth and encouraging further project and trader adoption.

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Surprise ETH price drop below $2.5K raises questions about Ethereum fundamentals

October 24, 2024 Coin Telegraph

Surprise ETH price drop below .5K raises questions about Ethereum fundamentals

bnb

Ethereum price followed the broader crypto market sell-off, but its longer term price weakness is driven by network-specific factors.

Ether (ETH) prices declined by 9.6% from Oct. 20 to Oct. 23, following a strong rejection at the $2,700 level. This move erased the gains of the previous 10 days, and as Ether now stabilizes near $2,500, its 30-day performance remains negative, down by 6%.

The chance of ETH reclaiming the $2,800 support is diminishing and onchain data suggests that high transaction fees are pushing activity away from the Ethereum network, ultimately reducing demand for native staking.

Total crypto capitalization (blue) vs. Ether/USD (green). Source: TradingView

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Memecoin craze fuels Solana price rally — Is $180 SOL the next stop?

October 19, 2024 Coin Telegraph

Memecoin craze fuels Solana price rally — Is 0 SOL the next stop?

Coin Telegraph

A sharp uptick in Solana network activity and the blockbuster performance from memecoins back SOL’s rally toward $180.

Solana's native token, SOL (SOL), gained 12.1% from Oct. 11 to Oct. 18 and data suggests that the upward momentum was partially driven by demand for memecoins. Increasing demand translates to higher network volumes, fees, and total value locked (TVL).

Traders are now debating whether the memecoin craze is sustainable and how SOL's price can continue to benefit from the surge in network activity.

While there is no fundamental basis for the surging demand for memecoins, it is clear that influential social media accounts direct traders' attention to the tokens. Take this Oct. 12 post from pwnlord69 as an example.

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Ethereum price shows strength, but a 23% drop in DApps activity raises concern

October 15, 2024 Coin Telegraph

Balancer

Declining DApp activity and lackluster demand for the ETH ETFs could limit Ethereum’s recent price rally.

Ether (ETH) price surged 9.4% between Oct. 10 and Oct. 15, reaching its highest level in two weeks at $2,687. However, despite these recent gains, Ether remains down 25% over the past three months, reflecting investor disappointment with the recently launched spot Ether exchange-traded funds (ETFs) and the overall lack of demand for ETH, despite Ethereum's focus on prioritizing layer-2 scaling solutions.

In the past 7 days, the Ethereum network saw a 23% decline in onchain decentralized applications (DApp) volumes and this downturn has sparked speculation that Ether's price could follow suit.

While various factors have negatively affected Ether’s price since mid-July, it is particularly striking that the overall cryptocurrency market capitalization remained relatively flat over the same three-month period.

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Sui and Aptos Record 78% Quarter-on-Quarter Surge in Total Value Locked As Wider DeFi Sector Declines: DappRadar

October 10, 2024 The Daily Hodl

Altcoins

Market intelligence firm DappRadar says that layer-1 crypto projects Sui (SUI) and Aptos (APT) emerged as the standout performers in the decentralized finance (DeFi) space in Q3 of 2024. In a new report, DappRadar says that Sui and Aptos saw an impressive increase in total value locked (TVL), the metric representing the amount of assets staked […]

The post Sui and Aptos Record 78% Quarter-on-Quarter Surge in Total Value Locked As Wider DeFi Sector Declines: DappRadar appeared first on The Daily Hodl.

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Solana DApps volume increased by 46% in a week — Is $180 SOL the next stop?

October 1, 2024 Coin Telegraph

Solana DApps volume increased by 46% in a week — Is 0 SOL the next stop?

bnb

An uptick in Solana’s network activity and upcoming project launches could send SOL price higher.

Solana's native token, SOL (SOL), experienced a 9% decline over two days after peaking at $161.80 on Sept. 29, marking its highest level in seven weeks. This correction mirrored the broader altcoin market capitalization (excluding stablecoins), which reached approximately $800 billion in late September before dropping to $739 billion on Oct. 1.

Despite this downturn, Solana network usage surged in the past week, prompting traders to question whether SOL has the potential to outperform its competitors.

Solana/USD (blue, left) vs. altcoin market cap (green). Source: TradingView

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Solana TVL declines, but will SOL price react negatively?

September 23, 2024 Coin Telegraph

AVAX

SOL recently rallied to $152 but will a decline in Solana’s network TVL negatively impact the altcoin’s price?

Solana (SOL), the native token of the Solana network, surged 16.4% between Sept. 18 and Sept. 20, but the $152 resistance level proved more formidable than expected, leading to a 6% pullback to its current level of $143.

Investors are now questioning the cause of SOL's price weakness and whether the recent outflows from Solana network deposits signal a potential retest of the $120 support.

The recent gains in SOL price followed a broader altcoin market rally, which saw an 11% increase since Sept. 18, spurred by the US Federal Reserve's decision to cut interest rates. This shift toward a more accommodative monetary policy also fueled a rally in the S&P 500 stock index, which reached an all-time high on Sept. 19.

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Ethereum’s value accretion narrative under duress after 19% drop in ETH DApp volumes

September 19, 2024 Coin Telegraph

bnb

ETH price struggles to find reasons to rally after the network’s DApp volumes drop and Ether languishes near the $2,250 support.

Ether (ETH) has struggled to break above $2,450 for more than two weeks, and the recent 17% drop in Ethereum decentralized application (DApp) activity has raised concerns, particularly as it affects the layer-2 ecosystem. Traders are now questioning whether the current $2,250 support level will hold much longer.

On the positive side, Ethereum remains the dominant platform in terms of both activity and development, although competitors are gaining ground.

Top blockchains ranked by 7-day DApps volumes, USD. Source: DappRadar

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