Post author:admin Post published:July 26, 2024 Post category:Ethereum News Key Insights Performance Analysis Total trades on Matcha increased 23% as trade volume grew for the third consecutive quarter, reaching $1.8 billion, up 13% QoQ. Daily trades peaked at over 15,000 on April 10, 2024, following two promotions announced the previous day: In Q2 2024, Base passed Arbitrum to become the second-ranked chain on Matcha by volume share (8.8%). It also passed both Ethereum and Arbitrum to become first by trade share (39.8%). During the peak of this activity, Ethereum experienced its lowest share of volume on Matcha throughout the year, dropping below 70% in both early April and early May. Despite this, Ethereum’s Q2 volume share was 81.2%, slightly surpassing its Q1 volume share of 79.9%. This dynamic is largely explained by three factors. First, Ethereum’s volume share steadily recovered from its low in early April to above 90% at the end of Q2. Second, Base’s volume share concurrently declined from its peak of more than 20% in early April to below 3% at the end of Q2, and lastly, Arbitrum’s volume share also declined by 40% in Q2. While Base’s share of volume steadily declined from its early April peak, trades held more steady. Base flipped Ethereum to become the chain with the most trades on Matcha in March of Q1. This trend was maintained throughout Q2, even after trades on Base peaked in April. Volume share of ETH/ETH pairs grew 84% QoQ to 26%, while the volume share of ETH/Stable, Stable/Stable, and Other pairs all declined QoQ. These movements reflected the increasing relative relevance of ETH liquid staking tokens (LSTs) and liquid restaking tokens (LRTs) in the run up to the launch of ETH ETFs Matcha had a record quarter serving 55,000 unique trading addresses throughout Q2, up 2% QoQ. The increase in new wallet addresses using Matcha can potentially be explained by a promotion In Q2, revert rates moderated at 5.7%, near Q1’s 5.4%, which marked the quarterly low in the past year. This stability follows Matcha’s integration of 0x’s Gasless API in January 2024, which led to an 85% reduction No part of this report may be (a) copied, photocopied, duplicated in any form by any means or (b) redistributed without the prior written consent of Messari®. Tags: Ethereum News Please Share This Share this content Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Read more articles Previous PostMetis Q2 2024 Brief Next PostzkLink Q2 2024 Brief You Might Also Like Shiba Inu ($SHIB) Loses Over 30,000 HODLers Amid Ongoing Whale Accumulation March 22, 2022 Ninja Fantasy Trader Announces Its First Presale of the Rarest NFTraders or Samurais February 28, 2022 21Shares Makes It Easier for Institutions to Invest in The Sandbox ($SAND) Metaverse April 7, 2022
Ninja Fantasy Trader Announces Its First Presale of the Rarest NFTraders or Samurais February 28, 2022