Post author: Post published:July 31, 2024 Post category:Ethereum News Key Insights Performance Analysis SynFutures V3 continues to be an overwhelming success, facilitating over $98 billion in perp trading volume in Q2 and ranking as the second-largest perp DEX by quarterly volume. This performance made it the seventh-highest quarter Focusing solely on SynFutures V3, user counts were relatively stagnant (646 DAUs) and even decreased sharply during the first two months post-launch. However, on March 29, SynFutures announced SynFutures’ TVL increased 9% this quarter to $47 million. The majority of TVL is comprised of wETH, accounting for 83%. TVL spikes were observed in early April and May, coinciding with the aforementioned campaigns. Similar to volumes and DAUs, TVL proved to be sticky following the conclusion of these initiatives. The most traded quote assets on SynFutures are BTC and ETH, accounting for over 99% of total trades. USDB SynFutures has generated over $30 million in fees since its launch on March 1. The $30 million generated As of Q2, SynFutures commanded a 66% market share on Blast. While competitors like Vertex’s Edge and Blast Futures also facilitated billions in trading volume during the quarter, SynFutures continued to lead the ecosystem. Outside Blast, SynFutures’ quarter catapulted it to become a leading perp DEX in a competitive sector. Perp DEXs are among the few crypto products with a well-established product-market fit. That said, there are currently 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 PostState of BNB Chain Q2 2024 Next PostState of Sia Q2 2024 You Might Also Like State of Avalanche Q4 2023 February 16, 2024 The Grayscale-Gensler Stalemate June 30, 2022 Billionaire Bill Miller Sees Bitcoin As ‘Insurance Policy Against Financial Catastrophe’ June 4, 2022
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