Post author: Post published:August 10, 2024 Post category:Ethereum News Key Insights Research Contents Rubic concluded Q2 with a transaction volume of $92 million, marking a 6.4% increase from the previous quarter. Base emerged as the leading source chain, accounting for over $13 million of the total volume, closely followed by Ethereum and Arbitrum with $12 and 10 million. Historically, zkSync and Linea have been popular among users in the “Other” category. Similarly, Rubic experienced a transaction spike after Linea and Manta announced points programs in November. However, users gradually moved away following token launches on these chains, contributing to a decline in Rubic’s volume in Q1. In contrast, this quarter saw a significant resurgence in transactions, with a 61% increase to 210,000, as X Layer, Mode, Blast, and Metis teased token rewards. Specifically, May and June recorded transaction counts of 80,000 and 77,000, respectively, marking them as the highest in 2024 and the third and fourth largest months since Rubic’s inception. The growth periods helped Rubic reach the 1 million transactions threshold. Q2 marked Rubic’s second-highest all-time transaction count, only surpassed by Q4 2023. This period saw a higher proportion of transactions on emerging chains than the overall volume, highlighting Rubic’s role as a gateway to new networks. This quarter, Rubic integrated ZKFair The prevalence of cross-chain swaps on Rubic has significantly increased in volume, rising from 49% in Q2 2023 to 75% in Q2 2024. The transaction value of these swaps grew from $30 million in Q2 2023 to $69 million in the same quarter this year, reaching an all-time high. This surge is primarily due to Rubic’s rapid integration with new blockchains, which fills a gap in the market for secure routing solutions. Despite RBC’s price decrease from $0.036 to $0.017, Rubic’s circulating market cap decreased by only 11% QoQ to $3.1 million. This was partially offset by an increase in circulating supply due to the vesting of marketing and treasury tokens No part of this report may be (a) copied, photocopied, duplicated in any form by any means or (b) redistributed without the prior written consent of Messari®. Tags: Ethereum News Please Share This Share this content Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Read more articles Previous PostThe Week In Crypto Policy: Crypto Tax Bills & Chokepoint of Customers Banks Next PostState of IoTeX Q2 2024 You Might Also Like InvestAnswers Host Explains Why He Is Very Bullish on Terra ($LUNA) and Solana ($SOL) March 26, 2022 The Bear Necessities: 7 Trends and Theses Part 2 September 7, 2022 $ETH: Withdrawal of Staked Funds Could Become Possible by March 2023 December 12, 2022