In the grand tapestry of Q4 2024, Tezos’s Etherlink, that charmingly EVM-compatible Layer 2 solution, has decided to throw a party, boasting a staggering 184% increase in contract deployments. One can only imagine the confetti flying as over 1,700 new contracts were deployed, according to the illustrious State of Tezos Q4 2024 report by Messari. 🎊
But wait, there’s more! The DeFi sector, that ever-enthusiastic cousin of the blockchain family, also experienced a delightful boost. Etherlink’s total value locked (TVL) grew significantly, propelled by the soaring price of Tezos (XTZ) and the platform’s irresistible allure of lower fees and swifter transaction speeds. Alas, this growth came at the expense of Tezos L1, which, in a tragic twist of fate, saw its TVL decline. Oh, the drama! 😱
Yet, fear not for Tezos L1! It too has flourished, with an 18% quarter-on-quarter increase in contract deployments, totaling a respectable 5,800 new contracts. Additionally, Tezos L1 experienced a 30.4% increase in transaction fee revenue compared to the previous quarter, which translates to a jaw-dropping 90.8% surge when measured in USD terms. The number of daily active addresses on Tezos L1 also grew by an impressive 37% QoQ, reaching an average of 1,800 unique addresses per day. It’s practically a social gathering! 🥳
And let us not overlook the Quebec upgrade, which introduced a plethora of improvements designed to support the seamless integration of Ethereum-based assets and dApps. This upgrade, combined with Etherlink’s lower fees and faster transactions, has solidified Tezos’s position as the belle of the blockchain ball, appealing to both developers and users alike. Looking ahead, Tezos’s ecosystem is poised for further evolution, with initiatives such as the upcoming JavaScript Rollup, allowing developers to craft JavaScript-based smart contracts. How avant-garde! 💻
Meanwhile, Tezos’s native token, Tezos (XTZ), is currently trading at a modest $1.10, with a market capitalization of $1.13 billion, making it the 83rd crypto by market cap. Not too shabby for a day’s work! 💰
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2025-01-31 17:10