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