Coin Edition -
- The Layer 1 blockchain landscape has seen a downtrend in January with declines in daily transactions, active addresses, and fees.
- Sui and Sei saw hikes in the Total Value Locked, surpassing leading players like Ethereum and Solana.
- Solana has seen an impressive surge in transaction activities, while Avalanche saw a deep decline in daily transactions.
One of the fastest-evolving Layer 1 blockchains, Sui, has exhibited a hike of 120% in TVL over the last month, surpassing leading platforms, including Ethereum, Solana, and Avalanche. Currently achieving a total value locked (TVL) of above $600 million, Sui surged 239mm in January.
In a recent X post, Sui announced the astounding hike in the TVL, pointing out that the L1 blockchain has surged past $600,000,000 just 10 days after it marked $500 million. In addition, Sui has also seen a surge in average daily volume over the past 7 days, hitting $100 million.