In the increasingly competitive world of blockchain technology and cryptocurrencies, protocol innovation and the ability to solve the most pressing issues confronting the crypto community are essential for any organization seeking long-term success in the ecosystem.
Since Arbitrum and Avalanche’s cross-chain bridge debut, user activity, revenue, and total value locked on DeFi and DEX platforms have exploded.
Investors and coders are enhancing the basics of the DeFi ecosystems while also enabling retail investors to maximize profit.
According to Token Terminal data, DeFi remains one of the crypto economy’s fastest-growing areas, as indicated by growth in total value locked (TVL) on protocols.
Last week’s strongest advances were on cross-chain interoperable networks and layer-two protocols that provide a lower charge environment.
Since implementing an enhanced cross-chain bridge that allows Ethereum-based tokens and applications to transfer to the Avalanche ecosystem, Trader Joe and Pangolin, two of the networks present in the Avalanche, have witnessed considerable inflows a spike in TVL.
In recent weeks, global regulatory authorities have enhanced their vigilance on collateralized and futures markets trading platforms. In contrast, established exchanges like Coinbase have applied to offer futures trading services, indicating that this is one sector perfectly positioned for exponential development as cryptocurrencies become more mainstream.
According to data, Ethereum competitors such as Tezos and Cosmos have all witnessed a spike in revenue over the last week, indicating that the layer-one competition is heating as high fees on the Ethereum network continue to push users to seek other possibilities.