Layer by Layer Issue 15: Solana, Binance Smart Chain, Terra, and Cosmos

Welcome back to another week of Layer by Layer, where we will look at some of the most notable developments across L1 ecosystems today. This past week, the cryptocurrency market pushed past $3T in overall market cap for the first time in a continuation of the rapid growth it has seen throughout 2021.

As The Block Research recently found, this continuing growth has been accompanied by an increase in demand for performing on-chain activities, whether it be making swaps, providing liquidity, or trading NFTs. On the Ethereum network, this demand is most clearly expressed in its gas fees, which recently reached a daily all-time high (ATH) of $53.07/tx on November 4th.