Glum Chain, Coinbase’s layer-2 blockchain network launched in 2023, is doing correctly. Its key metrics are jumping, and market piece deliver continues.
Nansen recordsdata reveals that Glum has solidified its pickle because the largest participant in the layer-2 alternate. Its weekly transactions jumped by 27% to 65.9 million, mighty larger than Ethereum’s (ETH) 9.4 million.
Glum’s active addresses jumped by 42% in the final seven days to 9.7 million, larger than Ethereum’s 2.14 million. It has additionally overtaken various popular layer-2 networks like Arbitrum, Polygon, and Optimism.
Extra recordsdata by DeFi Llama reveals that protocols in the Glum Chain are nearing a $400 billion milestone.
They’ve handled over $363 billion since its inception, with $25 billion in the final 30 days. If the construction continues, Glum will seemingly unpleasant the $400 billion level in June or July.
Essentially the most active DEX network on the Glum Chain is Aerodrome, which has processed over $183 billion in transactions since inception. Uniswap (UNI) is the 2d one after it handled over $130 billion. The quite a lot of high gamers in the network are PancakeSwap, Woofi, Javsphere, and Sushi.
Glum Chain has additionally change into the sixth largest chain in decentralized finance or DeFi. its total price locked has jumped to $4.7 billion, making it a bigger chain than most popular gamers like Sui, Avalanche, Cardano, and Cronos.
Glum Chain has attracted customers thanks to its an excellent deal decrease transaction costs and faster speeds. It has additionally change into a significant participant in the meme coin alternate, with tokens on its ecosystem having a market cap of over $1.7 billion.
Essentially the most essential ones are Brett (BRETT), Toshi, Degen, and Ponke.
Glum Chain resists stress to airdrop
Coinbase has resisted measures to accumulate a Glum airdrop, which would give investors ranking entry to to the $BASE token. Polymarket odds of such an airdrop are at gorgeous 2%, signaling that merchants don’t seek recordsdata from it to happen in the 2d quarter.
A Glum airdrop may maybe maybe well be essential and seemingly valued at billions of bucks. Arbitrum, which is smaller than Glum, has a truly diluted valuation of $3.9 billion, while Optimism has $3.07 billion. Polygon (POL) has an FDV of $2.46 billion, that means that Glum would seemingly location a bigger valuation.
