How Ethereum might be positioned in opposition to Binance Sensible Chain, Terra, Solana in 2022 – AMBCrypto Information

Advertisements

Economist and crypto commentator Tasha Che recently stated on a Twitter thread that things are changing rapidly for Layer 1 chains as space becomes competitive. She said,

“The truth is what Ethereum wants to be in the future – sharding, security layer for L2s, etc. – newer chains are already delivering similar things in a more elegant way …”

She went on to explain, “It’s hard to imagine a scenario in which Ethereum would surpass competing solutions.” This is something that the latest report from Arcane Research also outlines. The latest report found that ETH outperformed BTC in 2021, but other Layer 1 networks like Solana outperformed ETH.

With that, Arcane Research predicts that other Layer-1s will be introduced faster in 2022 and that they will continue to outperform Ethereum. The report also stated

“… other Layer 1 networks such as Solana, Avalanche, Terra Luna, Fantom and Harmony have clearly outperformed ETH. We expect this trend to continue into the coming year as these other smart contract platforms continue to steal market share from Ethereum in terms of users and the amount of money stored on the network. “

Che also explained why Solana is a critical project.

“Solana has the highest staking rate among the big L1s for good reason. The community is strong and according to the FUD of modular audience only gives the supporters breathing space to collect more. “

She also stated, “Solana’s lead would not go away overnight, but more successful apps are needed to maintain that lead.”

In all of this, BSC is something of a star. Arcane Research has analyzed that Binance Smart Chain was the first alternative ecosystem to take market share from Ethereum. And after that, projects like “Solana, Avalanche and Terra have seen a growing penetration with other Layer 1 protocols lurking a bit behind them.”

At the time of writing, we can also tell that Ethereum’s TVL stake as a DeFi chain has dropped to around 62% from where it was close to 70% a few months ago. The Terra chain is not close to second, but is now calling for an 18% TVL on Defillama with 14 logs. This is when there are 375 protocols on Ethereum.

Regarding Terra, Che commented:

“So my opinion of Terra is similar to that of South Korea – it has a place in the portfolio, but not everything that you can get involved with.”

On the log front, BSC is keeping 246 logs and the report also noted that the Binance smart chain ecosystem “saw massive growth in 2021 and Ethereum took some market share”.


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Binance stops Luna and UST exchanging following implosion – TechCrunch Binance

Binance stops Luna and UST exchanging following implosion – TechCrunch

Binance, the world's largest cryptocurrency exchange, has halted the trading of Terraform Labs' Terra...

By wpadminsonic164
How will regulatory points and obligatory KYC have an effect on the value of Binance Coin (BNB)?  – Cointelegraph Binance

How will regulatory points and obligatory KYC have an effect on the value of Binance Coin (BNB)? – Cointelegraph

Binance Coin (BNB) was up 30% in two weeks, but the fourth largest cryptocurrency...

By wpadminsonic164
Binance

Contrasting Binance Coin Versus Ouster Reveals New Low – Nasdaq

Here at CryptocurrenciesChannel.com, we find it interesting to track various ETF and stock prices...

By wpadminsonic164
Binance advanced land as ‘safe’ speculation before $40bn breakdown – Financial Times Binance

Binance advanced land as ‘safe’ speculation before $40bn breakdown – Financial Times

Binance promoted terraUSD as a “safe” investment just weeks before the stablecoin and its...

By wpadminsonic164
Binance UK accomplices with Fintech Founders bunch – AltFi Binance

Binance UK accomplices with Fintech Founders bunch – AltFi

alternative lendingdigital bankingSavings and Investments With the UK government throwing its weight behind the...

By wpadminsonic164
Nervos launches cross-chain bridge to Binance Sensible Chain – Benzinga – Benzinga Binance

Nervos launches cross-chain bridge to Binance Sensible Chain – Benzinga – Benzinga

NEW YORK, January 14, 2022 /PRNewswire/ -- Nervos today announced the launch of a...

By wpadminsonic164
Some Binance Employees Suggested Trading Against Their Own Users During Luna and UST Drawdown – U.Today Binance

Some Binance Employees Suggested Trading Against Their Own Users During Luna and UST Drawdown – U.Today

Arman Shirinyan Binance CEO could have made small fortune trading against his own users,...

By wpadminsonic164
Binance’s 10K Euro Restrict on Russian Accounts Makes Funds Problematic – PYMNTS.com Binance

Binance’s 10K Euro Restrict on Russian Accounts Makes Funds Problematic – PYMNTS.com

Binance, the world's largest cryptocurrency exchange informed Russian customers Thursday (April 21) that it...

By wpadminsonic164

Latest Posts

Prime 10 Altcoins to Watch Carefully in 2022 for Good Returns – Analytics Perception Stellar

Prime 10 Altcoins to Watch Carefully in 2022 for Good Returns – Analytics Perception

by Satavisa Pati January 1, 2022 You can invest in these top 10 altcoins...

By wpadminsonic164
Dogecoin: A very good entry set off for DOGE bulls could be discovered at… – AMBCrypto Information Dogecoin

Dogecoin: A very good entry set off for DOGE bulls could be discovered at… – AMBCrypto Information

Disclaimer: The findings of the following analysis are the sole opinions of the writer...

By wpadminsonic164
Polkadot

Top 10 Cryptocurrencies With a Better Future Than Bitcoin – hackernoon.com

Cryptocurrencies gaining popularity due to their ability to provide smooth transaction payments in a...

By wpadminsonic164
‘Night Sky’ Ending Explained and All Your Questions Answered – CNET Stellar

‘Night Sky’ Ending Explained and All Your Questions Answered – CNET

Prime Videos night sky might not be the most high-octane of sci-fi thrillers, but...

By wpadminsonic164
Binance stops Luna and UST exchanging following implosion – TechCrunch Binance

Binance stops Luna and UST exchanging following implosion – TechCrunch

Binance, the world's largest cryptocurrency exchange, has halted the trading of Terraform Labs' Terra...

By wpadminsonic164
Cardano

Ethereum, Ripple, Binance Coin, Cardano, and Polygon – Cardano Feed

This week, we take a closer look at Ethereum, Ripple, Binance Coin, Cardano, and...

By wpadminsonic164
An altcoin now displays the pre-breakout patterns of Cardano, Algorand, and Bitcoin, says Crypto Analyst – The Every day Hodl Cardano

An altcoin now displays the pre-breakout patterns of Cardano, Algorand, and Bitcoin, says Crypto Analyst – The Every day Hodl

A popular crypto strategist says a decentralized financial altcoin mimics the patterns of other...

By wpadminsonic164
Cardano NFT Disruptor – EGO.COM Enters the Game – Digital Journal Cardano

Cardano NFT Disruptor – EGO.COM Enters the Game – Digital Journal

US/NY – May 24, 2022 — Led by a team of artists, art dealers,...

By wpadminsonic164