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The Linea network is becoming increasingly popular among users

The Linea network is becoming increasingly popular among users

May 22, 2024

DappRadar experts note the rapid development of the ecosystem of decentralized applications (dApps). In 2024, new platforms are emerging, changing the landscape of the industry. According to experts, the Linea network, which launched in July 2023, has quickly become an important player in the decentralized finance (DeFi) sector. Research shows impressive results from this project in the first quarter of this year.

Analysts emphasize that Linea’s on-chain activity continues to grow steadily. On average, 134.6 thousand unique active wallets (UAW) are registered daily, which is a 155% increase compared to the previous quarter. Total sales were $1.4 billion, an increase of 3%.

During the past quarter, 64 million transactions were registered, which is 64% more than in the previous period. These indicators demonstrate the growing popularity of the ecosystem. However, despite the successes, Linea developers have not yet released their own token.

Despite being a relatively new network, the total value locked in protocols (TVL) increased significantly, reaching $186 million, which is a 218% increase compared to the previous quarter,” experts note. Analysts also emphasize that many DeFi projects are becoming increasingly popular among users. For example, over the past 30 days, the number of unique active wallets (UAW) for Stargate on Linea has increased by 224%.

The Lynex app, which uses DEX infrastructure, saw 287% growth. Nile Exchange, which has become the main liquidity hub on Linea, is a next-generation AMM market maker. UAW numbers have increased 703% in the last 30 days.

Decentralized lending protocol ZeroLend saw the most significant TVL performance on the network, increasing by 140% in a month. Finally, Renzo follows this protocol in terms of total funds locked, also increasing by 140% over the same period


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