Report: Solana Q3 bridge net inflow of $1 billion, market share index reached 35%, second only to Ethereum

Ethereum has maintained a 45% market share amid competition from Solana and Aptos, according to a recent report from ETC Group. Solana leads with $1 billion in bridge net inflows in Q3 2024, but it is facing challenges due to Aptos' momentum. Aptos has seen 23% higher inflows than the average for other L1 blockchains, the report said. The Composite Network Dominance Index (CNDI) shows Ethereum's dominance at 45%, Solana at 35%, and Aptos at 20%. Despite Ethereum's poor performance, attributed to factors such as the Dencun upgrade in March 2024 and market pressures such as the unwinding of yen carry trades in August, it has demonstrated resilience and continued ecosystem expansion. Solana and Aptos show network growth trends, with daily active addresses and transaction counts rising quarter by quarter. Aptos' performance highlights its position in the GameFi space and its ability to handle high transaction volumes at a lower cost. (CryptoSlate)