VanEck Unveils Top-Performing Blockchains in September
Monolithic blockchains, which integrate different layers into a single architecture, have shown strong results in September, according to a report by VanEck.
The report highlighted price increases for Solana ( SOL ), Sui ( SUI ) and Aptos ( APT ), which rose 14%, 118% and 23%, respectively. Sui’s growth was driven by a 140% increase in daily active addresses during the month, which resulted in its market cap exceeding $5 billion.
VanEck also pointed out that the upgrade of Aptos’ Raptr software was a major factor in the 30% increase in daily active addresses.
Monolithic blockchain systems like Solana perform better due to their higher performance and more efficient design compared to modular chains.
READ MORE:
Here is Which Crypto Protocol Dominates the Base Blockchain Right NowSolana , often referred to as the “MacOS of the blockchain space” by Pantera Capital for its vertically integrated approach, has cheaper transaction fees and faster processing, making it a viable platform for smaller payments, asset tokenization and issuing NFTs.
At the same time, a previous VanEck analysis noted how the lower fees and faster transaction speeds of newer tier-one blockchains are attracting users away from Ethereum, contributing to its underperforming price in 2024.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Join RCO Finance (RCOF) and the Crypto Whales Waiting for 5000x Profits, This is How
QCP Capital Shares Expectations for Bitcoin in the Shadow of Iran-Israel Tensions
Cryptocurrency analysis company QCP Capital evaluated Bitcoin along with the latest agenda in its statement.
SHIB’s Shiba Eternity Game Enters Web3 in Complete Revamp
US spot Bitcoin ETFs log $300 million weekly outflow, reversing three-week trend
US-based spot Bitcoin exchange-traded funds logged modest inflows on Friday, but it wasn’t enough to overcome the outflows last week.The ETFs logged over $300 million in outflows for the week, reversing a three-week trend of positive inflows.US-based Ethereum ETFs also saw a modest inflow on Friday but logged net outflows for the week.