Leading altcoin Ethereum has long held a dominant position among Layer 1 chains. However, recent Ethereum has long held a dominant position among Layer 1 chains. However, its recent poor performance has made it more vulnerable to some of its rivals. This has become especially evident with the rise of blockchains such as Solana and Aptos. These two rivals have the potential to challenge Ethereum’s leadership.
Solana Outperforms Ethereum
In the third quarter of 2024, Solana impressed with its performance. Solana has achieved significant success, surpassing many key metrics when compared to the leading altcoinEthereum. Notably, Solana ranked first in bridged net flows, recording total inflows of $1 billion in the quarter, according to ETC Group’s report. This demonstrates Solana’s capacity to attract capital and proves how effective it is in the DeFi space.
In terms of price performance, Solana surpassed Ethereum. During the third quarter, Solana showed a 14% price increase, while Ethereum lost value. This success of Solana made him a stronger player in the altcoin market. But Solana isn’t just competing with Ethereum, it’s also struggling with other projects like Aptos.
Strong Performance of Aptos
Aptos showed a remarkable performance this quarter, especially thanks to its growth in the GameFi sector. Tapos Cat Game and other projects increased trading volumes of the popular altcoin Aptos and helped it attract more users. However, when evaluated on an annual basis, Aptos performed lower than Solana and Ethereum. Looking at the number of daily active users, Solana showed an increase of 82%, while Aptos saw a growth of 55%.
Despite these data, Aptos attracts attention with its strong projects and growing user base. Although it is difficult to compete with giants such as Ethereum and Solana, Aptos continues to make its presence felt in this race. Aptos is expected to become even stronger in the future with the growth of GameFi and similar projects.
Leading altcoin Ethereum’s Domination in DeFi Continues
As Kriptokoin.com has reported, despite Solana’s successes, Ethereum is still dominant among Layer 1 chains. According to Comprehensive Network Dominance Index (CNDI) data, Ethereum’s dominance is at 45%. This metric is an important indicator that measures Ethereum’s network usage efficiency and transaction density.
This data supports the solid infrastructure and large developer community of the leading altcoinEthereum. Ethereum’s lead in DeFi remains strong despite the emergence of competing projects. This explains why Ethereum is still the industry’s most preferred platform.
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