on-chain transaction volume

Merlin Chain releases 2024 first half review: $1.2 billion TVL, $16 billion bridge inflow, $3 billion on-chain transaction volume

ChainCatcher news, Bitcoin Layer 2 network Merlin Chain releases its semi-annual report, reviewing its growth trajectory in the first half of 2024, as well as milestones in various aspects such as public chain, growth, ecology, and technology------breaking records for mainnet TVL, the most prosperous application ecosystem, and the most solid user community, setting an industry benchmark for Bitcoin Layer 2. This includes:$200 million TVL, $16 billion in bridging volume, 1.9 million on-chain addresses, 12.7 million transactions;TVL on the mainnet exceeded $3.9 billion in 50 days (88% from native assets like BTC, Ordinals), with M-BTC's market cap reaching $1.2 billion in the first half of the year;Bridged $16 billion in Bitcoin, $1.6 billion in spot trading, $1.4 billion in perpetual contract trading, and over $1 billion in cross-chain assets, becoming a mainstream Bitcoin hub;Asset trading volume exceeded $3 billion, with DEX liquidity surpassing $78 million;Incubated No. 1 industry-leading applications in DEX, cross-chain bridges, lending, infrastructure, entertainment, etc. (UniCross, Solv Protocol, Surf Protocol, Avalon Labs, MerlinSwap, MerlinStarter, etc.);Launched a comprehensive security framework and on-chain architecture, collaborating with industry leaders Celestia, Cobo, Slowmist, etc., to create a secure and transparent on-chain environment;The release rate of MERL will significantly slow down in the second half of the year, with only 0.4% released over the next 12 months.It is reported that Merlin Chain plans to continue its efforts in technology, ecology, and community in the second half of the year, further leading industry standards and promoting the sustainable development of the Bitcoin ecosystem.

Data: In July, many indicators in the cryptocurrency market rebounded, with total on-chain transaction volume increasing by 31.8%

ChainCatcher news, according to a post by The Block's research director @lars0x, many indicators in the crypto market rebounded in July, with adjusted total on-chain transaction volume increasing by 31.8% to $445 billion (BTC: +34.7%, ETH: +27.7%). Adjusted on-chain stablecoin transaction volume grew by 18.8% to $997 billion, with the issuance supply increasing by 1.2% to $144.3 billion, of which USDT accounted for 78.9% and USDC for 17.1%:In July, BTC miner revenue decreased by 1.2% to $950.2 million, while ETH staker revenue fell by 6.6% to $270.2 million. A total of 17,114 ETH were burned in July, equivalent to $56.4 million. Since the implementation of EIP-1559 in early August 2021, a total of 4.35 million ETH have been burned, amounting to $12.3 billion. Monthly NFT market transaction volume on Ethereum decreased by 49.6% to $140.3 million.In July, legitimate CEX spot trading volume increased by 6.7% to $702.7 billion, and the monthly net inflow for all BTC spot ETFs grew by 473%, reaching $3.15 billion. Bitcoin futures open interest increased by 15.6%, while Ethereum futures open interest decreased by 5.6%. BTC monthly futures trading volume rose by 65% to $1.66 trillion, and ETF monthly futures trading volume increased by 43.1% to $755.5 billion. CME Bitcoin futures open interest grew by 13.5% to $10.6 billion (with average daily trading volume increasing by 12.3% to $5.05 billion). Bitcoin monthly options trading volume increased by 31.9%, reaching a new high of $56.9 billion, while ETH monthly options trading volume decreased by 8.1% to $15.5 billion.
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