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Share link:In this post: Data from Token Terminal shows a selection of growth networks in the past week. Gaming protocols shower significant activity in May. Overall, most activity is concentrated on top blockchains, especially based on Ethereum. MEV bots and stablecoins take up the largest part of on-chain activity for top networks.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We str
Newer and well-established protocols marked an uptick in user counts based on specific use cases and expectations. One major category for user inflows is Ethereum -based re-staking. Older protocols like Polygon also show user growth.
The growth in those protocols is a mix of hype, and organic performance based on revenues. Overall, June 14 was the day for peak activity in selecting 181 protocols, with 588M token holders counted.
The recent trend still does not include the Base blockchain, which is becoming one of the biggest activity hubs.
Projects grow on hype; some show good user retention
Projects like Ondo go through their usual hype cycle. The addition of users also does not translate into token price growth, as most assets are still sliding or stagnant.
The leaders, Aerodrome and Ondo, keep posting new user records with an almost constant rate of growth. Shuffle is also at a stable rate of growth, with weekly upticks in users. The growth of Polygon holders is also gradual, as the project is relatively older. Buying MATIC may be required for multiple games and DeFi protocols, so ownership is spreading gradually from organic buyers.
Read: Onchain Summer: What new engagement trend aims to revive crypto enthusiasm?
Smaller projects like Morpho also add users gradually but see a more rapid expansion of fees. COW Protocols is gaining visibility on social media and saw an uptick in users in June. COW Protocol also sees user loyalty with stable monthly activity for most of its apps.
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