OurNetwork

ON–280: Layer 1s 🛣️

Coverage on Sui, Aptos, TRON and TON

Oct 11, 2024

ON–280: Layer 1s 🛣️

Layer 1s 🛣️

Sui | Aptos | TRON | TON

Sui 🐆

📈 Sui is the fastest growing protocol of 2024, representing a 961.8% growth in TVL

  • Sui is a layer 1 (L1) blockchain which uses the Move programming language and purports to offer 297,000 transactions per second. Over the course of the last year, Sui has demonstrated remarkable growth. One year ago from Oct. 9, Sui's total value locked (TVL) was at $39.6M, the network had less than 10,000 daily active users (DAU), and the price of $SUI was $0.40. Since then, the Sui ecosystem has been in full throttle, pushing new highs across the board, reaching a whopping $1.01B (2,300%) in TVL.
Artemis
  • As seen in the chart below, Sui experienced rapid growth in daily active users (DAU), from 19,758 on Jan. 1, 2024, to 843,450 by Oct. 8, 2024. That's a 4,169% increase, and the largest increase in DAUs across competing L1 chains.
Artemis
  • The leading categories for dApps on Sui are infrastructure and social by a large margin. In general, Sui dApps have driven a 3,600% increase in daily active addresses year-over-year.
Artemis

Aptos 🌐

📈 Aptos TVL, user base more than quadruple in 2024

  • Aptos is another high performance blockchain which uses the Move programming language. Since the start of 2024, Aptos' TVL has more than quadrupled—hitting a record high of $668M on Oct. 8—with contributions from Aries Markets, Amnis Finance, and Thala, all of which are DeFi protocols. Aptos also recently overtook Bitcoin mainnet as reach the 14th highest TVL across all chains as users grew 4x in 2024, skyrocketing to 26M total unique users. Additionally, during the week of Oct. 1, 1M+ new users joined the ecosystem as monthly actives creep to 5M. In the past week, Aptos processed 27M+ transactions—up 22% WoW—as total transactions near 2B.
Flipside - tkvresearch
  • Aptos is seeing strong DeFi momentum with ~$50M in net stablecoins bridged to the network in the past month. This $10M monthly net flow reflects growing confidence in Aptos as more users leverage Aptos’ scalable infrastructure for dApps and the likes of Tether announcing plans to integrate USDT, which at $119B, is the leading stablecoin by market cap.
DeFiLlama
  • With 78% of its native asset staked (871 million of 1.12 billion APT), a 7% staking rate, and 149 validators across 22 countries, Aptos is solidifying its role in DeFi. This global participation underscores the network’s strength and its broader ecosystem’s commitment to security and scalability in the DeFi space.
Aptos Labs

TRON 💪

📈 TRON Reaches Over 263 Million User Accounts, Generated $577 Million in Revenue in Q3

  • TRON is the trusted network for developers, institutions, and individuals worldwide. The total transfer volume now exceeds $14T. Over the last 30 days, the daily transactions surpassed 7.4M on average and there are now more than 263M user accounts on the blockchain with an average of 237k new accounts created per day. TRON's accessibility, combined with the DAO's commitment to meaningful change, highlights its potential to drive impact on a global scale.
TRONSCAN
TRONSCAN
TRONSCAN
  • According to @JA_Maartun on X, “TRON consistently processes the highest actual volume of txs over time, with a… rate of 85 TPS, surpassing its competitors: BTC (~7 TPS), ETH (~14 TPS), and Polygon (~30 TPS)... it's noticeable how reliable TRON's actual TPS remains compared to other chains.”
CryptoQuant
  • Over 50% of USDT's total supply ($119B+) circulates on the TRON network, making it the first blockchain to host a single stablecoin valued at over $60B. Stablecoin transaction volume reached $453.8B, up 10.91% in the last 30 days, with 68.7M transactions—a 5.36% increase over the same period.
Artemis
Artemis
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Transaction Spotlight:

On Aug. 20, Tether minted an additional $1B USDT on TRON, reinforcing TRON's status as the leading blockchain for the stablecoin with over $61B in circulation, significantly outpacing Ethereum's $54B. TRON is widely used across emerging markets for fast and frequent transacions such as remittances, micropayments, and p2p transfers.

TON 💎

📈 TON is Moving Towards the Next Billion Web3 Users, Onboarding Millions of Web2 Users Daily

  • During 2024, project leaders have launched significant tokens on TON — NOTCOIN in May, DOGS in August, CATI, RBTC and HMSTR in September. All these token were distributed as airdrops among the users of Telegram mini-apps, applications which run the messaging platform. Performing airdrops is a big challenge for every blockchain. Here, TON is showing excellent results with all tokens reaching over 1M holders less than a week since the initial airdrop.
CryptoQuant
  • TON is the fastest growing chain across all L1s. Last month TON surpassed Polygon in number of token holders (addresses with positive balance) and now TON is moving towards TRON and BNB.
token terminal
  • With its unique scalable architecture TON allows to deploy millions of new smart contracts in a single day.