244869
Leon Waidmann | Onchain Insights

@leon-waidmann #244869

Head of Research @onchainhq 🔎 | Get Insights into the most important Onchain Trends | Uncover future-shaping Developments.📈 https://linktr.ee/LeonWaidmann
3903 Follower 75 Following
🔸 Stablecoins on ETHEREUM L2? Still TINY! 🤏

➡️ETH Mainnet: $118.9B 🐋
➡️All ETH L2s: ~$10B 👶
➡️Solana alone: $11.79B
➡️Sui: $897M

Scaling race just warming up.📈
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/61f3e20a-5f19-4361-81b0-96137c3e8d00/original
🔸Stablecoins are booming on Ethereum L2s! 🚀

➡️@arbitrum at $4.7B (+25% YoY) 🥇
➡️@base at $3.8B (+58% YoY) 📈

🔸Stablecoins = liquidity + adoption
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/12de8b73-8109-437c-0583-6e001ba38700/original
🔸Ethereum L2 throughput is EXPLODING! 🚀

🔸Base now at 30.83 Mgas/s (+516% YoY). 📈

🔸Why care? More throughput = more compute power.

➡️MEANS cheaper fees, faster apps, bigger scale.

➡️Ethereum ecosystem leveling up FAST! 🔥 @growthepie
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/666246e1-5ea1-40b1-7c7b-75b162b92d00/original
🚨MASSIVE ETHEREUM price spike 📈

🔸Yet ETF inflows? Shockingly low! 😱

🔸This has to be crypto’s most hated rally EVER. 🤷‍♂️

➡️Everyone still completely sidelined on this trade...

🔸Which means one thing:

➡️We're perfectly set up to go MUCH, MUCH higher from here! 🚀🚀🚀
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/047e3462-3c9e-4d39-0418-d04ef07ad200/original
🔸 Solana is the most efficient Blokchain!
Processes ~1,000 TPS—far ahead of Base (~70 TPS) and Aptos (~30 TPS).

🔸⚡️But ETH's L2s are catching up! 🚨

If I had to make a prediction, I'd say ETH's combined ecosystem TPS will surpass Solana before 2026!📈
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/65800c6a-ebd0-4d7c-45cb-f49214a4a900/original
🔸Strategic ETHEREUM Reserve just hit a new ATH at 655,341 ETH ($1.47B)! 🚀

@GnosisDAO and @exodus recently joined.

Expect rapid growth as $ETH becomes the go-to treasury asset across the entire Ethereum ecosystem!
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/f642fce4-5327-43ed-718f-8c6ecdae7900/original
🔸$ETH flips deflationary again as Pectra drives a massive spike in network activity.

38K+ ETH burned in 24h.

More transactions, fewer tokens, stronger fundamentals.🔥📈
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/0661da3f-5254-4481-7517-74163b817d00/original
That was fast! We're already back in "Greed" territory at 70, after hitting "Extreme Fear" just a month ago.

Crazy how fast sentiment can switch in crypto.🤯
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/8cf15cd8-d913-496e-87f2-37d23bbf5500/original
Gm farcaster friends!🔥

New pfp mint in progress…

Proof-of-Glow up activated.

Stay tuned.🤣
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/7e36dd65-c616-4d62-8eca-101c3ab89e00/original
📉 Ethereum Weekly Engagement dropped:

🔸 10.4M active addresses (‑32.35%)
🔸 L2 dominance: 4.76x (‑28.81%)

But don’t fade ETH.

Pectra just went live: enabling smart accounts, more blobs, and scaling the ETH L2 economy.

Expect more growth in the coming months.

Bullish.📈
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/4130c336-5d9c-4a28-def6-90e2bade2600/original
💸 Post & Earn Is Now Real

On Farcaster, users have already earned $28k+ just by liking and recasting posts.

No ads. No gatekeepers. Just onchain social incentives.

Here’s how 👇

🔸 Amps. fun: Pay to promote posts, earn by engaging
🔸 $28k+ earned since Feb
🔸 2,500+ weekly Amps
🔸 Wallet-native Mini App
🔸 All inside your social feed

And that’s just the beginning…

Farcaster is evolving into a full Mini App ecosystem:
🎧 Spoticast – see what friends are listening to
🧠 AI or Not – viral AI guessing
🪙 Zora – mint culture instantly
🎯 Trivia, games & more

Mini Apps = programmable social.

You’re not just posting — you're building, earning, experimenting.
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/e646c2a8-ae1a-48b5-0a81-7fa6e7b87100/original
Farcaster Hits 900k Users and Funded Wallets Cross 100k📈

The decentralized social media project is gaining traction fast:

🔸 900k total users
🔸 183k daily casts
🔸 100k+ funded wallets
🔸 $25k/week in USDC rewards

To boost growth, Farcaster is now free.

And Coinbase just launched a Farcaster-native wallet.
Why it matters:

Funding wallets = the new “follow”

Users won’t just scroll — they'll earn, own, build.

Stay tuned.
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/f93243cc-8c2b-4fc1-392b-9f528c4cc500/original
/Farcaster
🚀 Tokenized Real-World Assets just hit an all-time high of $22.1B onchain!

🔸+10.5% growth in just 30 days
🔸Driven by Private Credit & US Treasury Debt
🔸Over 100K holders actively participating
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/4e3ca8ad-af32-4b6e-2216-952afcc4fd00/original
🔹 ETH Holders Double Down 📈

Despite entering unrealized losses (ETH price: $1,867 vs. holders' cost basis: $2,026), accumulating addresses increased holdings by +22.5% since March.💪
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/7d8a0403-0755-424a-6b41-91e19cebb600/original
BlackRock’s BUIDL fund is going all in on Ethereum!

Over $2.7B of the fund’s assets are tokenized on ETH.

That’s 92% of the total!

The rest? Not even close:

1️⃣ Ethereum: $2.7B
2️⃣ Aptos: $53M
3️⃣ Avalanche: $52M
4️⃣ Polygon: $38M
5️⃣ Arbitrum: $32M
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/8170c6e3-fb08-4f1f-62e2-336037aae700/original
The chains with the biggest % surge in active addresses over the last 7 days:

1. @unichain +7,788%
2. @Chiliz +612%
3. @berachain +169%
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/3a3deae5-ca3c-4643-b192-5260f79cf000/original
📢 Crypto liquidity is back!

Stablecoin market cap just hit $220B, the highest level ever.

💰 That means more capital is sitting in stablecoins, ready to rotate into assets like Bitcoin.

Here’s what’s fueling it:
🔹 USDT added $5.3B in the past 30 days
🔹 USDC added $6.0B in the same period
Both are growing faster than usual, a bullish sign.

📊 The Bitcoin Bull Score Index climbed from 20 to 50
This shift reflects improving sentiment and stronger onchain momentum.

Stablecoin liquidity has historically been a reliable signal for upcoming Bitcoin strength.

Right now, that signal is flashing green.
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/f254ab87-f33a-458e-3a33-72cd973dc700/original
🚨 Ethereum isn’t dying! It’s evolving.

📊 $130B TVL on Ethereum mainnet
💵 65% in stablecoins — an all-time high
🔁 DEX TVL down 88% since 2021 peak

But this isn’t bad news.

Ethereum remains the backbone for real capital.
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/726c8d48-49da-469c-0478-29b50526af00/original
/Ethereum
Despite all the tariff headlines, inflation keeps trending down 📉

🔹 US Inflation now at just 1.37%
🔹 Lowest levels in over a year
🔹 Market fears ≠ economic reality?
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/653c0db7-eab7-4d79-68a2-038f54bc0f00/original
/Ethereum
📈 Ethereum Spot ETFs are finally showing net positive inflows again.

But let’s be clear: we’re still miles away from the peak ETF demand seen in late 2024.

➡️ The ETF crowd hasn’t gone full bull yet, but they're cautiously dipping back in.
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/5bd23635-5cfa-4abe-dea7-6290780d2a00/original
/Ethereum
🚨 Whales are making moves 🐋

🔹Nearly 10M ETH withdrawn from exchanges

🔹Binance alone accounting for 49% 🔥

➡️Big players quietly shifting to long-term holds and self-custody

➡️Something big brewing behind the scenes? 👀

Bullish for $ETH.
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/23bbd572-5230-49c5-7ce7-8c34c853a800/original
🔥 Solana’s staking market cap ($58.7B) recently matched Ethereum’s ($61B).

Does this mean Solana's security now rivals Ethereum's?

Let's explore this because staking market cap alone doesn't determine network security. Here's my take 🧵👇

🔹 Both ETH and SOL share theoretical thresholds:

33% stops block generation.

51% creates a chain fork.

67% enables double-spending.

🔹 Node Decentralization Is Crucial:

On Ethereum, each validator stakes exactly 32 ETH. To achieve a 51% attack, an attacker would need about 1.187 million nodes, which is practically impossible.

Solana’s stakes are concentrated. Controlling just the top 43 validators crosses the 50% threshold, raising centralization concerns.

🔹 Economics and Participation:

Ethereum’s more accessible 32 ETH staking threshold encourages broad participation, enhancing decentralization.

High operating costs for Solana validators limit participation, inadvertently leading to centralization risks.
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/efcc128e-96a7-4ad2-7437-5ade77e3a500/original
/Ethereum
👨‍💻 Top 5 Blockchain Ecosystems by Active Devs:

1️⃣ Ethereum: 2,188
2️⃣ Solana: 667
3️⃣ Cosmos Stack: 632
4️⃣ Bitcoin: 556
5️⃣ Polkadot: 530

What's your take?

Participate and shape our next dashboard @OnchainHQ
👇

https://onchain.typeform.com/to/cUn7HcYQ
🌐 The DePIN sector is booming and @OnchainHQ mapped it all out for you!

Explore Onchain Intelligence:

🔹 Interactive project insights (followers, market cap & more) 🔍
🔹 Soon: Aggregate DePIN sector index tracking market momentum📈

We're looking for Web3 founders, analysts, researchers & creators to shape future features.

👉Check out the dashboard & share your feedback here! https://onchain.typeform.com/to/cUn7HcYQ
🚨 Stablecoins hit a NEW all-time high 🚨

➡️ $241 BILLION.

➡️ +$5B inflow in just one week.

Crypto markets are showing strength and fundamentals are aligning perfectly.

Massive dry powder is waiting on the sidelines. 📈
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/5409734e-6560-4259-2221-46f036ea1a00/original