📝 Editor’s Note:
On a week where BTC has hit an all-time high above $118,000, welcome to OurNetwork’s latest. Below we have coverage from six stellar analysts covering six major Layer 1s.
Leading off is Tanay on Ethereum, which hit its highest transaction mark since 2021. yasmin dug into Avalanche's momentum in the RWA space. Biff covered Sui's explosive stablecoin growth. Haley chronicled Aptos’ own RWA expansion, while Seoul Data Labs examined Plasma, the highly anticipated stablecoin-focused chain. Syed wrapped up with Sei's gaming sector traction.
Prices are up and time is short. Let’s get into it.
– ON Editorial Team
Ethereum | Avalanche | Sui | Aptos | Sei | Plasma
Ethereum 🦄
👥 Tanay Ved | Website | Dashboard
📈 Ethereum Mainnet Transactions Hit a 3-Year High of 1.4M as Stablecoin Transfer Volumes Average a Record $30B
Ethereum has sustained its dominance as a hub for stablecoins, with 55% of total supply, or nearly $140B residing on Ethereum mainnet. Another $10.5B are also natively issued on Ethereum Layer 2s (L2s), fueling their use across rollups like Arbitrum, Base and Optimism. The 30-day average adjusted transaction volume across Ethereum stablecoins reached a record-high of $31B in April. As stablecoin issuance and economic activity rise, they can create a feedback loop for ETH demand and utility.
Coin Metrics
The Pectra upgrade went live in May, enhancing Ethereum’s staking efficiency and L2 scalability. 35.5M ETH, or 29.4% of supply, is now staked. EIP-7691 raised the blob target from 3 to 6, doubling blob capacity. This has reduced data costs, and enabled greater rollup transaction throughput and adoption.
