Blockchain Platforms Artemis and QuickNode Release Q1 2024 On-Chain Report

According to Foresight News, blockchain analysis platform Artemis and blockchain development platform QuickNode have released their on-chain report for the first quarter of 2024. The report reveals that the market value of USDT has exceeded $100 billion for the first time, with the number of transactions processed in the first quarter being more than ten times that of USDC. Stablecoins continue to lead in terms of address activity, while DeFi transactions have surpassed stablecoins. The total value locked (TVL) in DeFi yield generation protocols has grown from $26.5 billion in the third quarter of 2023 to $59.7 billion in the first quarter of 2024. The report also highlights the significant growth in the Web3 sector. The number of transactions in Web3 games has increased by 370% year-on-year, making it the highest-growing category in the Web3 industry. User activity on decentralized social networks has increased by 425% in the first quarter. In addition, Solana NFT activity has surged, with Tensor's active addresses surpassing OpenSea. The total amount of Web3 investments has grown by 55% compared to the fourth quarter of 2023, with seed round investments increasing by 53% sequentially.