Solana and Base became the most popular blockchains of 2024.

This conclusion comes from experts at CoinGecko, who shared several interesting insights:

– Solana has returned to its 2021 rally levels, capturing 38.9% of overall interest from crypto investors, surpassing other popular L1 and L2 chains.

– Base claimed second place, garnering 16.81% of investor interest and growing fivefold since the beginning of the year.

– Ethereum shifted to third place in the rankings, while Sui and TON have clearly gained significant momentum this year.


Read the full CoinGecko research here.

Day 1 of $MORPHO is going quite well, with the number of buyers and buying volume significantly exceeding the selling side.

I expected Morpho to launch around a $1B FDV, and it appears to be the best DeFi token launch of the year so far.

The image below shows data for the top $MORPHO accumulators.

Data source: Alphanomics

Are meme coins really on the rise?

• In terms of market cap – absolutely.
• In terms of retail sentiment – not so much.

Surprisingly, activity in this sector remains low, even as overall mcap continues hitting ATHs.

Conclusion: retail investors haven’t woken up yet – nothing to see here ¯\_(ツ)_/¯

Bitcoin futures open interest on the CME reached a record 218,000 BTC ($21.3 billion), marking a 35% increase since the Nov. 5 election.

This surge in OI alongside rising prices reflects strong bullish sentiment in the market.

DeFi activity on NEAR Protocol is booming, with Ref Finance swap volumes spiking nearly 400% in a day last week.

PS: The data for today is not relevant since the day is just starting and the info is updated in real-time.

In 2024, only Arbitrum and Compound saw growth in unique topic contributors.

Meanwhile, Balancer (-44%) and Sky/MakerDAO (-37%) experienced the biggest declines, with Uniswap maintaining steady author numbers across 2023 and 2024.

Inflation eats away at your yields.

This bull run has made that painfully clear.

Take $SOL, for example:
• Market cap: $122B.
• Price: $258.For contrast, in 2021, the market cap was $75B—and the price was the same.

Now, $TIA:
• ATH market cap in January: $3.3B.
• Current market cap: $2.6B.
• Price in January: $20.
• Price now: $6.

Need more examples?

$SEI:
• ATH market cap: $2.8B.
• Current market cap: $2.25B.
• Price then: $1.03.
• Price now: $0.53.

$ARB:
• ATH market cap in March: $4.6B.
• Today: $3.8B.
• Price in March: $2.1.
• Price today: $0.8.

$TAO:
• Already surpassed its ATH market cap of $4.6B.
• Did the price hit a new ATH? Close, but not quite.

$ENA:
• Very close to its ATH market cap: $2.12B vs. $1.84B now.
• Price then: $1.49.
• Price now: $0.64.

The message is clear: start paying attention to inflation.

Altseason is already here, but most of the assets you’re holding are inflating at a crazy speed.

Latest stablecoins transactions breakdown:

Ethereum dominates with an average stablecoin transaction size of $75.5K, far surpassing Base ($16.4K), Avalanche ($10.5K), and TRON ($7.0K). Meanwhile, TON is gaining traction, with a notable $1.6K average transaction size.

Over the past six months, these narratives have drawn the most user interest:

• Bitcoin
• CEX
• Oracles
• L1
• Wallets

However, if we look at the last quarter, the rankings shift:

• Memes
• DeFi 2.0
• L1
• AI
• RWA

Some narratives are bound to trend at certain times, so always remember to compare their historical performance.

I hope you’re keeping an eye on the perp DEXs narrative because there are some intriguing insights about SynFutures:

• SynFutures V3 handled $71.0 billion in trading volume in Q3, solidifying its position as a leading perp DEX.
• The average number of daily active addresses grew by 58.5% QoQ, reaching 7,788.
• In July, SynFutures expanded to Base, quickly becoming the network’s top perp DEX and surpassing $380 million in daily volume by the end of Q3.

The full Q3 2024 SynFutures report is available here.

Another confirmation that the crypto market has long been a part of the broader economic system.

The US elections have concluded → the market has surged → L1 coins have risen in price. The latest data:

SOL +57%, reached a new ATH
XRP +120%
TON +39%
TRX +31%

Solana DEXs have set a new record for monthly trading volume.

This November, the combined trading volume on Solana-based exchanges surpassed $109 billion, with SOL itself reaching a new all-time high on November 23.

Which blockchain has been the most profitable this year? Let’s compare fee revenues and incentive expenses YTD:

▪️ Tron: Generated $1.7B in fees while spending $1.4B on incentives, making it the most cost-efficient L1 blockchain this year.

▪️ Ethereum: Spent $1.14 for every $1 earned in fees, despite showing improved efficiency in March. The EIP-4844 update reduced fee costs but required higher incentive payouts to validators.

▪️ Solana: Although it has significantly improved its cost efficiency over the years, it still spends $7.22 for every $1 in fees generated.

▪️ Aptos: Spends the most on incentives, paying $358 for every $1 in fees in 2024, even as its market value has grown by 125% YTD.

Check the full dashboard here.

The market isn’t as weak as it may seem – at least for these players:

• $SAND is slowly recovering, reigniting investor interest in metaverses and GameFi.
• $XLM has caught the attention of Korean investors, confident in its significance within the current market dynamics.
• $ETH is finally outperforming BTC and XRP, regaining value.

Bitcoin’s market cap is picking up steam, but it still has a long way to go to catch up with gold.

Remember, even after 15 years, we’re still early.

Ethereum has regained its top spot as the leading blockchain for USDT after a 10% increase in supply last week.

USDT on Ethereum has reached $60.3 billion, compared to Tron’s $58.1 billion.

What will this day bring us? Find out in a new research roundup!

General
➖ Glassnode: Bitesize Insights: BTC active addresses accelerate - what about TON, BNB, and SOL?
➖ Footprint: Viral Marketing in Western Markets: Challenges and Breakthroughs for Web3 Growth
➖ Galaxy: Ask the Experts: Crypto's Path Forward Post-Election 2024
➖ Galaxy: Learnings from Devcon 2024: Ethereum’s North Star
➖ Galaxy: Weekly Top Stories - 11/22
➖ Galaxy: The Digital Asset Investable Universe in 10 Minutes

Market
➖ CoinShares: Stablecoins Are A Growing Force in Global Finance
➖ Coinbase: Weekly: Options and Optics
➖ Glassnode: Touching Distance
➖ Galaxy: Bitcoin Soars, Markets Stir: What’s Next?

Blockchains & networks
➖ Cryptorank: Top Blockchain Ecosystems: Which Platforms Will Dominate User Growth This Cycle?
➖ 4pillars: Movement: Modular Framework Powered By Move
➖ Cointelegraph: How Q Protocol is changing the future of blockchain governance