Key Tezos Metrics Continue To Grow Exponentially Month-On-Month
Key Tezos ecosystem metrics have been breaking records on numerous fronts. In this article, we look into just some of these metrics signifying exponential growth and look at some of the specific areas that have risen significantly in the past weeks and months.
Tezos has seen exponential transaction volume growth in 2021 so far. In late March, Tezos daily transactions were sitting at 39,580 as a 30 day average. This in itself was a big increase from January and February, which had daily transactions well under 30,000.
As of today (20th June 2021), Tezos daily transactions as a 30-day average sit at 128,611, a 224.93% increase in around 3 months.
On some days, Tezos transactions have far exceeded this daily average figure. On the 9th of June 2021, Tezos had around 283,000 transactions over a 24 hour period. This represented 23% of the amount of Ethereum transactions over the same period.
Smart Contract Calls
Just like transactions, smart contract calls have also seen significant growth. Smart contract calls are an important metric to analyze when it comes to smart contract platforms as it shows actual activity in the form of smart contract usage.
At the beginning of the year, the Tezos blockchain was receiving 68,589 contract calls a month, last month it received 1,489,533 contract calls in a month – representing a 2071.67% increase.
So far in the month of June, 1,348,620 contract calls have been made over 20 days, representing 67,431 per day. This trend looks set to see Tezos over 2 million contract calls this month. If 2 million smart contract calls in a month was to be achieved then this would indicate a 2815.91% increase since January 2021 and a further 34.27% increase month-on-month from May.
When looking at the monthly daily active user chart for Hicetnunc, we can see a 251.70% increase from March 2021 to May 2021. Again, this month looks like it will break the May record.
DeFi has very recently started to take off on Tezos and TVL (Total Value Locked) on various platforms has continued to increase. The Plenty platform presently tops the Tezos leaderboard with over $18,000,000 locked as of today (20th June 2021). This is large growth considering the platform only launched on May 31st.
In addition to TVL, the Plenty/XTZ liquidity pool on Quipuswap has over 813,130 XTZ and over 1,102,753 Plenty in it, a combined value of over $5,000,000 in liquidity.
In addition to this, the Crunch/XTZ liquidity pool on Quipuswap has over 649,009 XTZ and 28,008,791 CRUNCH representing over $4,000,000 in liquidity.
The Wrap platform also has large liquidity placed in the WRAP/XTZ pool on Quipuswap with over $1.26 million. The wrapping section of the platform also has over $4.67 million locked.
In a healthy growing blockchain ecosystem, you would expect the number of wallets to grow and this has been the case on Tezos. One type of Tezos wallet – the Temple wallet hit 30,000 downloads in the month of May, going from 10,000 to 30,000, and representing a 200% increase in just one month.
Of course, this represents just a small fraction of the overall Tezos ecosystem growth. Many other ecosystem stats and projects are contributing on a large scale to the exponential Tezos growth have not been covered in this piece, but many have been featured in past articles.
All information is provided based on todays date: 20th June 2021.
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