VanEck Unveils Top-Performing Blockchains in September

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.

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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.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.