Post author: Post published:August 7, 2024 Post category:Ethereum News Key Insights Financial Analysis Network Overview In Q2, Archway, a developer-led incentive chain, paid $8,300 to contract deployers, representing a 57% decrease from the previous quarter. Q1 had seen the highest activity since the chain’s inception, but Q2 marked the lowest developer revenues since Q3 2023. Nonetheless, developers earned $4,800 in April alone, which exceeded the combined earnings of May and June. The USD value of ARCH dropped by 35% QoQ, mirroring a similar decline in ARCH burned. Transaction fees for Q2 totaled $16,500, resulting in 67,800 ARCH being burned, as half of the transaction fees (paid in ARCH) are burned. In Q2 2024, Archway experienced a daily average of 1,081 unique active addresses, an 8.3% decrease QoQ. Despite this, the total transaction count for the quarter surged by 63%, reaching 572,900. April was particularly notable, recording the highest daily transaction peak in Archway’s history at 9,700, with April 16 alone seeing 19,800 transactions. The number of daily active addresses, measured by unique transaction signers, peaked at 4,200 during this period. This increase in user activity often follows a rise in developer activity on the chain, suggesting that user metrics may continue to improve as more applications are launched. In Q2, TVL on Archway decreased to $4 million, down from a peak of $8.3 million in April. This decline in USD terms was primarily due to a 35% drop in the value of ARCH. However, when measured in ARCH, TVL increased from 42 million to 66 million ARCH, a 57% QoQ rise. This marks the largest TVL in ARCH terms since Archway’s launch. The numbers point towards an underlying growth despite the apparent decrease in USD valuation.Astrovault 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 PostVitalik Buterin Unveils Roadmap for Ethereum Layer-2 Interoperability Next PostUnderstanding Vertex: A Comprehensive Overview You Might Also Like $BTC: ARK Invest Explains Why They Expect Bitcoin To Go Up by $200,000 to $500,000 August 9, 2022 Weekly Recap Ending March 31 April 1, 2022 Babylon: Middleware Between Bitcoin and Proof-of-Stake October 6, 2022