Market Concentration - The industry observes that only 3 chains secure over $30 billion in assets, indicating market concentration [1] - Data suggests user preference rather than fragmentation, particularly in stablecoins [2] - Ethereum's stablecoin market cap is approximately 15 times larger than Solana's, with roughly $150 billion versus $12 billion, highlighting significant consolidation [2] Chain Performance - Ethereum holds approximately $330 billion [3] - Tron holds approximately $82 billion [3] - Solana holds approximately $34 billion [3] Capital & Liquidity - Capital prioritizes depth, security, and credibility in blockchain networks [2] - Chains need to attract stablecoin liquidity to compete effectively, otherwise they are competing for scraps [2]
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Token Terminal 📊·2025-09-13 09:50