Summary
TLDR: Challenger blockchains Sui, Sei, and Ronin are gaining popularity with their native cryptocurrencies tripling in price over the past three months, outperforming top layer-1 assets. Sui has seen a significant increase in total value locked, while Ronin has experienced a surge in daily active users. Sei, however, has had slow uptake with a decrease in the actual number of tokens locked. The market is shifting towards these newer layer-1 networks, with increased volatility expected due to their smaller size and less liquid markets.
Key Points
1. Challenger blockchains Sui, Sei and Ronin have seen their native cryptocurrencies triple in price over the past three months, outperforming other layer-1 assets in the top-100 by market cap.
2. Sui, a delegated proof-of-stake network, has experienced a significant increase in total value locked (TVL) from $90 million to $560 million in three months, with a surge in SUI staked in its DeFi protocols.
3. Ronin, known as the EVM blockchain for gaming communities, has seen a rise in daily active users from 21,000 to 615,000 in three months, driven by Web3 decentralized identity service CARV and popular games Pixel and Apeiron.