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Key Insights XRP’s market capitalization increased 2% QoQ, significantly outperforming the combined market capitalization of BTC, ETH, and SOL, which declined by 22% QoQ. Ripple’s USD-pegged stablecoin RLUSD closed Q1 with a market cap of $44.2 million on the XRPL,…
Key Insights Ronin goes permissionless. On Feb. 12, 2025, Ronin launched Open Ronin, marking its transition from a closed, gaming-centric chain to an open, permissionless blockchain. The upgrade enabled unrestricted smart contract deployment across DeFi, infrastructure, and consumer applications. OpenSea…
Key Insights Marinade Native’s TVL (SOL) increased 38.6% QoQ. Marinade Native added ~1.2 million SOL in TVL in Q1’25. Marinade generated $3.6 million in protocol revenue in Q1’25, an increase of 18.2% QoQ and 328.4% YoY. The Stake Auction Marketplace…
Key Insights Chain GDP on Solana (total application revenue) grew by 20% QoQ, rising from $970.5 million to $1.2 billion. January marked the strongest month, generating $698.6 million in revenue. The Application Revenue Capture Ratio (Chain GDP divided by Real…
In the 3rd part of our series, the deping tokenomics is dissected by structural drivers who form estimates through the protocol depin. Comparing networks of digital resources (DRNS) and physical resources networks (PRNS), we explore the basics such as the…
Bitcoin mining has moved to capital intensely, highly concentrated business: two pools – Fundry USA and Antpool – now command more than half of the global hashrat, and a handful of public mega -mininers dominates the rest. Podmreža 14, Taohash,…
Nternet capital markets are remodeling that value is created and exchanged online, and platforms such as belief allow everyone to tokenized ideas, products or communities. Although the model has caused explosive growth and cultural relevance, some are disputed – some…
Key Insights DeCharge enables individuals and small businesses to deploy EV chargers and participate in a token-incentivized network, lowering the cost and complexity of expanding public charging infrastructure, especially in under-served regions. Several ecosystem integrations have gone live since late…
Key Insights HBAR’s circulating market cap decreased 32.9% QoQ to $6.9 billion. Nevertheless, its market cap rank amongst all tokens remained unchanged QoQ at 18. DEX volumes on Hedera averaged $10.8 million per day in Q1, increasing 0.5% QoQ, maintaining…
Key Insights Phala Cloud launched in January 2025. By the end of the quarter, developers had deployed 1,084 Confidential Virtual Machines. Phala Network replaced its parachain architecture with an Ethereum rollup called Phala 2.0. The new design allows developers to…
