In September, several blockchain networks showed an increase in user activity and Total Value Locked (TVL) in ecosystem applications. Recall that TVL is the volume of user funds within network applications and this parameter is considered a critical indicator for assessing the state of the blockchain.
The overall growth of TVL in the DeFi sector over the past month was about 10%, almost reaching $90 billion. Experts attribute this to the positive impact of the Fed rate cut on the cryptocurrency market.
Although Ethereum, the market leader in TVL in the decentralized financial applications (DeFi) sector, recorded growth of only 4%, to $49.9 billion, the Aptos, Base, SUI and TON networks are showing positive dynamics in TVL above 30%, according to Defillama at the end of September. Some networks are also seeing growth in terms of address activity using projects, which may indicate a growing user base.
Base, a second-layer (L2) scaling solution for the Ethereum blockchain, has seen a 40 percent inflow of funds in TVL over the past month, to $2.1 billion. At the same time, the number of active addresses over the same period was 20.4 million, which puts it among the most used networks on the market. The platform is developed and supported by the team of the largest American exchange Coinbase.
TON, which is integrated into some services of the Telegram messenger, supported by Pavel Durov, has seen a 38 percent increase in TVL to $435 million. And active addresses in the network amounted to about 11 million this month, which is almost double the figure for August. The growth of TVL in the TON network occurred after a drop in late August associated with the arrest of Pavel Durov in France. At that time, the figure was around $510 million.
Aptos, a first-tier blockchain, has seen its TVL grow by more than 34% over the past 30 days, to $560 million. The number of active addresses using the network this month was around 4 million. The project is known for being based on Mark Zuckerberg’s development of blockchain solutions for social networks.
And finally, Sui. The company that developed this project is Mysten Labs. Its founders previously worked at Meta (recognized as an extremist organization in Russia and banned) on the never-launched Diem project and the Move programming language, as was the case with the previously mentioned Aptos. Sui showed the largest percentage increase in TVL in September, amounting to almost 60%, to $965 million.
