{"id":344660,"date":"2021-09-27T01:50:00","date_gmt":"2021-09-26T22:50:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ethereum-alternatives-and-layer-1-solutions-see-steady-gains-in-september\/"},"modified":"2021-09-27T01:50:00","modified_gmt":"2021-09-26T22:50:00","slug":"ethereum-alternatives-and-layer-1-solutions-see-steady-gains-in-september","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ethereum-alternatives-and-layer-1-solutions-see-steady-gains-in-september\/","title":{"rendered":"# Ethereum alternatives and layer-1 solutions see steady gains in September"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6af7e84d1e1c6\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6af7e84d1e1c6\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-alternatives-and-layer-1-solutions-see-steady-gains-in-september\/#Layer-2_platforms_increase_their_gas_consumption\" >Layer-2 platforms increase their gas consumption<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Ethereum alternatives and layer-1 solutions see steady gains in September <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>The competition among layer-one (L1) smart contract platforms has been on the rise in the past couple of months as traders and developers continue to embrace Ethereum (ETH) network alternatives that offer faster transaction times and lower fees.<\/p>\n<p>According to a recent report from Delphi Digital, the price of Ether has remained relatively flat over the past month while competitors like as Solana (SOL) and Fantom (FTM) have seen their prices rally more than 200% during the same time. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/7d8a87d8-01b3-4bb6-94cd-fb8abee798d7.png\"><figcaption style=\"text-align: center;\"><em>Relative performance of L1 tokens over the past 30 days. Source: Delphi Digital<\/em><\/figcaption><\/figure>\n<p>One of the drivers of the rallies seen in Fantom (FTM), Avalanche (AVAX) and Terra (LUNA) is the fact that each has launched a variety of mulit-million dollar funding initiatives designed to attract developers, investors and new liquidity to their ecosystems. <\/p>\n<p>These initiatives sparked a flurry of new activity and cross-chain transfers from the Ethereum network to the layer-1 projects and to date, Solana has seen the biggest gains. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/e6c50253-1c53-40b8-b22a-abd22df72526.png\"><figcaption style=\"text-align: center;\"><em>Total USD value locked in the top layer-one protocols. Source: Delphi Digital<\/em><\/figcaption><\/figure>\n<p>When it comes to individual <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications located on the different blockchains, the Avalanche-based Trader Joe DeFi protocol has seen the biggest gain in terms of TVL over the past seven days as the value locked on the protocol has increased by 57%. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/646bc804-a9d9-4887-9e4d-9bad5530acd2.png\"><figcaption style=\"text-align: center;\"><em>Total value locked on Trader Joe vs. exchange trading volume. Source: Token Terminal<\/em><\/figcaption><\/figure>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Finance Redefined: Layer-two growth and the SEC\u2019s scrutiny, Sept. 19\u201323<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Layer-2_platforms_increase_their_gas_consumption\"><\/span>Layer-2 platforms increase their gas consumption<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>It\u2019s not just Ethereum\u2019s layer-one competitors that have seen an uptick in activity in the past few months. The launch of several new layer-two solutions and an airdrop by the decentralized derivatives exchange dYdX (DYDX) have led to an increase in gas consumption by layer-two protocols. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/8842ddbf-be83-4af9-a541-115121148c50.png\"><figcaption style=\"text-align: center;\"><em>Layer-two vs. Layer-one gas spend as a percentage of total gas. Source: Delphi Digital<\/em><\/figcaption><\/figure>\n<p>Data from Delphi Digital shows that the percentage of gas used by layer-two solutions is now above 1% after spiking as high as 2% in early September.<\/p>\n<p>DYdX protocol was one of the earlier adopters of layer-two <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> thanks to a collaboration with Starkware, and the protocol has seen a new level of activity in recent weeks following the release of its DYDX governance token which was airdropped on Sept. 8 to users who had previously used the protocol.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/42422db1-12b7-4ad5-babe-5d3eb528e0e2.png\"><figcaption style=\"text-align: center;\"><em>Total value locked on dYdX vs. trading volume. Source: Token Terminal<\/em><\/figcaption><\/figure>\n<p>Since the airdrop release, the TVL locked on the dYdX has increased from $422 million to $554 million, and its 24-hour training volume has climbed from $700 million to as high as $2.4 billion. <\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ethereum-alternatives-and-layer-1-solutions-see-steady-gains-in-september\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Ethereum alternatives and layer-1 solutions see steady gains in September &#8221; The competition among layer-one (L1) smart contract platforms has been on the rise in the past couple of months as traders and developers continue to embrace Ethereum (ETH) network alternatives that offer faster transaction times and lower fees. According to a recent report&#8230;<\/p>\n","protected":false},"author":1,"featured_media":344661,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvYzA5ZjU3M2UtY2U5YS00YmVmLTliN2EtMjYwZGUzMGZiZTYzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,80586,74863,74868,74891,75326,95119,76341,92498,74880,72927,73785],"class_list":["post-344660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-celo","tag-cryptocurrencies","tag-defi","tag-ethereum","tag-ethereum-2-0","tag-layer2","tag-scalability","tag-solana","tag-transactions","tag-fees","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/344660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=344660"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/344660\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/344661"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=344660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=344660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=344660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}