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Data: Solana's net inflow from bridging in Q3 reached 1 billion USD, with a market share indicator of 35%, second only to Ethereum.

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TechFlow
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Oct 8, 2024

According to a recent report from ETC Group, on October 8, Deep Tide TechFlow reported via CryptoSlate that Ethereum has maintained a 45% market share amidst competition from Solana and Aptos. Solana is leading with a net inflow of $1 billion bridged in Q3 2024, but it is facing challenges due to the momentum of Aptos. The report states that Aptos's capital inflow is 23% higher than the average of other L1 blockchains. The Composite Network Dominance Index (CNDI) shows Ethereum's dominance at 45%, Solana at 35%, and Aptos at 20%. Despite Ethereum's underperformance, attributed to market pressures such as the Dencun upgrade in March 2024 and the liquidation of yen arbitrage trades in August, it has shown resilience and sustained ecosystem expansion. Solana and Aptos are exhibiting a trend of network growth, with daily active addresses and transaction numbers rising each quarter. Aptos stands out for its position in the GameFi sector and its ability to handle high transaction volumes at a lower cost.

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