Proud to Announce Cointelegraph and Crypto Research Report's New Blockchain and Layer 1 Scaling Report
Can Ethereum remain the “King of DeFi” in the coming years?
Dear Crypto Asset Investors and Friends,
Will the growing global and decentralized finance market live in just one blockchain ecosystem or is there enough traffic for multiple winners? The new Cointelegraph and Crypto Research Report explains why Bitcoin is not capable of DeFi at the levels of Ethereum. However, we do show that Layer 2 scaling on top of Bitcoin and competitor blockchains, such as Solana, Polkadot, and Algorand are gradually taking Ethereum’s market share. The global decentralized finance market is estimated to be worth $250 billion and growing. The report carefully analyzes the most important Layer 0 and Layer 1 blockchains in order to help educate investors on potential threats to the King of DeFi.
The New Crypto Research Report can be downloaded from the following link:
Crypto Research Report – (75 pages) – English
Crypto Research Report – (69 pages) – German
The Report is Supported by Arcana, Brave Browser, Fuse, Cryptix AG, Casper Labs, Ambire, Radix, Cake DeFi, ANote Music, Bitpanda Pro, and Coinfinity.
Highlights from the report include:
The total value of all cryptocurrencies sits just below $2 trillion currently and the total value locked (TVL) is more than $250 billion for all DeFi projects.
Ethereum blockchain is generating more annual protocol revenue than Bitcoin. Ethereum is producing $2.2 billion in transaction fees and $19 billion in block rewards. Bitcoin’s blockchain is generating the second-highest protocol revenue with $450 million in transaction fees and $14 billion in mining rewards (328k BTC). Then come the smaller fish including $498 million on Algorand, $7 million on Polkadot, and $2.2 million on Solana.
Price-to-sales (P/S) ratios are useful for comparing blockchains. The price-to-sales ratio compares a protocol’s market cap to its revenue. A low ratio could imply that the protocol is undervalued and vice versa. The price-to-sales ratio is an ideal valuation method, especially for early-stage protocols, which often have little or no revenue. Can you guess which blockchain has the lowest P/S ratio out of the five analyzed? Surprisingly, it’s Algorand. Algorand’s price compared to how much revenue the network is generating is 22x. The second most underpriced P/S ratio is Ethereum with 215x followed by Bitcoin with 2,200x. Solana’s is the worst with a P/S ratio of almost 40,000x!
However, Solana actually has more daily active users than Bitcoin. Solana has 1 million daily active users, and Bitcoin only has 950. That is unbelievable given the fact that Solana just came on the scene, and Bitcoin is Solana’s great-great-great crypto grandma!
Cash App, a service developed and operated by Jack Dorsey’s Block, is building an easy-to-use application that allow people to send fiat currencies over the Bitcoin Lightning network. This may put Bitcoin back in first place for the global decentralized finance market. The Lightning Network has $150 million in network capacity.
Ethereum’s network has been at full capacity and has the highest average fees of any of the Layer 1 blockchains ($28 per transaction).
The 75-page report carefully curates industry expertise from 10 authors in six countries, all of whom work at the forefront of this capital market evolution. Exclusive interviews with Bernhard Koch from Cryptix AG in Switzerland, Ivo Georgiev from Ambire Wallet, and Grégoire Mathonet from ANote Music in France are featured.
Crypto Research Report has a strategic partnership with Cointelegraph, the largest crypto news company in the world. All editions of the Crypto Research Report are available on the Cointelegraph website, which gets over 17 million views a month.
Last but not least, we especially want to thank our Ongoing Premium Partners of the Crypto Research Report, Coinfinity in Graz and Bitpanda Pro. Coinfinity is a broker in Austria that is famous for creating an easy-to-use Bitcoin cold wallet called The Card Wallet. Coinfinity also enabled Bitcoin purchases at 4.000 retail outlets across Austria via the Bitcoinbon program. In addition to Coinfinity, Bitpanda is a fully licensed exchange based in Austria. They have recently added Bitpanda Pro, which offers more liquidity and lower fees.
I hope you will enjoy the reading Cointelegraph and Crypto Research Report’s analysis of how blockchain technology is improving scalability and building the infrastructure required for the largest capital market in the world.
Kind regards from Liechtenstein in the Crypto Rhine Valley,
The CRR Team
Crypto Research Report
9492 Eschen/Liechtenstein
Mail: info@cryptoresearch.report
Web: www.cryptoresearch.report
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