KEYTAKEAWAYS
- Total DeFi TVL Reaches $118.05b, TOP 10 DApp TVL Shows Overall Recovery
- Injective Chain DApp Daily Transactions Reach 29.19M, Surpassing Solana Again
- Ronin Becomes Fourth Most Used Blockchain in 2024
CONTENT
Welcome to CoinRank Daily Data Report. Total DeFi TVL Reaches $118.05b, TOP 10 DApp TVL Shows Overall Recovery. Injective Chain DApp Daily Transactions Reach 29.19M, Surpassing Solana Again. Ronin Becomes Fourth Most Used Blockchain in 2024.
TOTAL DEFI TVL REACHES $118.05B, TOP 10 DAPP TVL SHOWS OVERALL RECOVERY
On January 14, the total value locked (TVL) in DeFi projects rebounded to $118.45b. Many protocols saw their TVL increase today, with Lido’s TVL growing 2.1% daily, AAVE’s TVL increasing 2.45%, while DEX leader UniSwap’s TVL grew 3.13% today, reaching $5.895b.
Source: DefiLlama
Analysis:
The total locked tokens in DeFi saw their first rebound in the past week. On the DefiLlama platform, many lower-ranked DeFi projects also experienced significant TVL growth, indicating optimistic market sentiment.
INJECTIVE CHAIN DAPP DAILY TRANSACTIONS REACH 29.19M, SURPASSING SOLANA AGAIN
On January 14, Injective chain DApp transactions reached 29.19M, while Solana chain DApp transactions were 25.8M. opBNB chain DApp transactions were 6.93M, and WAX chain DApp transactions were 6.53M. Ranking fifth was NEAR, with 4.67M DApp transactions.
Source: DappRadar
Analysis:
Within 30 days, Injective chain DApp daily transactions surpassed Solana three times, successfully joining the ranks of top public chains in total daily transactions. The public chains ranked 3rd to 5th all struggle to exceed 7M daily total transactions. How to increase on-chain transaction activity has become a common challenge for these public chains.
RONIN BECOMES FOURTH MOST USED BLOCKCHAIN IN 2024
According to unfoldedRonin monitoring, Ronin has become the 4th most used blockchain in 2024, only behind Ethereum, Bitcoin, and Solana. The number of active addresses grew from 1 million in January to 3.2 million by the end of July, achieving a weekly growth rate of 5%.
Source: Unfolded
Analysis:
Ronin chain’s active addresses maintain a remarkable 5% growth rate. Ronin is an EVM-compatible chain designed for gaming, aiming to solve the high fees, low performance, and poor user experience issues that NFT gaming projects face on the Ethereum network. Through establishing a sidechain, Ronin achieves a smooth and seamless gaming experience by providing low-cost and fast transactions, along with a rich ecosystem of developer and user tools, particularly providing crucial support for the well-known NFT game Axie Infinity. However, we also note that Ronin’s ecosystem development still lags considerably behind Solana, with metrics such as TVL and number of on-chain DApps being far smaller than Solana’s.
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