Report: L1 Blockchain will slow down in 2024 due to reduced activity
In 2024, the on-chain and market activities of Layer 1 (L1) blockchain networks including Ethereum, Solana, and Bitcoin significantly decreased. CoinMetrics researchers TanayVed and MatíasAndrade highlighted the challenges these networks faced as total fees and token performance fell below their highs at the beginning of the year. According to a report by CoinMetrics researchers TanayVed and MatíasAndrade, L1 blockchains performed strongly at the beginning of 2024 but lost momentum thereafter. The data shows that since the start of this year, returns for most L1 tokens have fallen below 50%, with transaction volume declines leading to lower overall fees.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Is the Federal Reserve repeating the 2022-style rate hikes? Bank of America warns: Rates may return above 5%, suggests shorting two-year U.S. Treasuries.
Bank of America warns: With Waller at the helm, the Federal Reserve may raise interest rates above 5%, potentially repeating the events of 2022.
OpenAI is expected to burn over $278 billion in cash by 2030, with a revenue target of $350 billion over the same period.
OpenAI is expected to generate up to $278 billion in negative free cash flow over the next five years, driven solely by computing power and infrastructure, with cumulative spending projected to reach approximately $856 billion by 2030. The company anticipates revenue of $350 billion in 2030 and $36 billion in 2026, with total revenue from 2026 to 2030 amounting to around $840 billion.
Garrett Jin's ZEC short position has an unrealized loss of $33.422 million.
Crypto prices
More
