Monolithic blockchains, which integrate different layers into a single architecture, have shown strong results in September, according to a report by VanEck.
The report highlighted price increases for Solana (SOL), Sui (SUI) and Aptos (APT), which rose 14%, 118% and 23%, respectively. Sui’s growth was driven by a 140% increase in daily active addresses during the month, which resulted in its market cap exceeding $5 billion.
VanEck also pointed out that the upgrade of Aptos’ Raptr software was a major factor in the 30% increase in daily active addresses.
Monolithic blockchain systems like Solana perform better due to their higher performance and more efficient design compared to modular chains.
Solana, often referred to as the “MacOS of the blockchain space” by Pantera Capital for its vertically integrated approach, has cheaper transaction fees and faster processing, making it a viable platform for smaller payments, asset tokenization and issuing NFTs.
At the same time, a previous VanEck analysis noted how the lower fees and faster transaction speeds of newer tier-one blockchains are attracting users away from Ethereum, contributing to its underperforming price in 2024.
The Layer 2 Ethereum network Base, incubated by Coinbase, has seen its total value locked (TVL) soar to $2 billion, marking a fivefold increase in user deposits since the beginning of the year.
Ethereum continues to dominate the stablecoin sector despite recent market volatility.
L2 protocol Arbitrum has achieved a major milestone, surpassing 1 billion transactions since launching its mainnet in August 2021.
TRON DAO has successfully completed a thorough security evaluation of its Java-Tron client, conducted by ChainSecurity, a blockchain security firm.