Ethereum Alternatives Find Increased Activity in September

Written By Guest User

Full article by Jordan Finneseth found here.

Key Points:

  • Competition between layer one smart contract platforms continues to increase in 2021 as investors, developers, and users continue to embrace Ethereum network alternatives that offer faster transactions and lower fees.

  • The price of Ether ($ETH) resides around the $3000 level, while competitors such as Solana ($SOL) and Fantom ($FTM) have seen price rallies more than 200% since August.

  • Each of these competing L1 protocols have launched multiple multi-million dollar fundraisers to attract developers, users, and investors to their ecosystems. These initiatives aim to pull from the overloaded activity on Ethereum.

Screenshot 2021-09-27 at 14-54-27 Ethereum alternatives and layer-one solutions see steady gains in September.png

  • Below we see a comparison of the total value locked in a variety of competing L1 protocols. Solana has overtaken Polygon and Terra in early September, a sign that capital is being reallocated within the differing ecosystems as the overall market continues to mature.

Screenshot 2021-09-27 at 15-02-30 Ethereum alternatives and layer-one solutions see steady gains in September.png
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