What the Key Metrics for Onchain Activity Say About SOL, ETH and Other Chains in 2025

Web3 is drowning in metrics, most of which paint an unclear picture. Transaction volumes, token prices and flashy headlines often mask what really matters: the quality of user engagement and the potential for organic, exponential growth. As the industry moves beyond the hype, reliable, data-driven signals of success are no longer optional — they’re essential. Here’s the good news: the tools to cut through the noise already exist. By combining multiple on-chain metrics into a single “health index” score indicating the depth and quality of overall user engagement, we can identify which chains are truly thriving and poised for long-term growth. With 2024 coming to a close, let’s dig into what these signals reveal about today’s leading chains, and what we can expect in 2025. Assessing user quality using aggregated, not isolated, data When creating a sustainable on-chain ecosystem, it doesn’t make sense to optimize any single user action. What’s needed is context — a way to quantify not just everything users are doing, but how and why it matters. One promising approach to achieve this is to aggregate user behaviors into five core categories: Transaction Activity, ranging from spot trades to smart contract interactions. Token Accumulation in the medium-to-long-term, and other “investment” behaviors. DeFi Engagement for activities like staking, lending and liquidity provision. NFT Activity such as minting, trading and utility-driven interactions. Governance Participation to quantify DAO or protocol governance contributions. Crucially, these metrics should not be treated equally. A better approach is to weigh and combine them using a Bayesian model to generate a single top-line “score.” Unlike traditional scoring systems that rely on static thresholds or simple averages, this lets us incorporate both prior knowledge (what we expect from an “average” wallet) and new evidence (actual activity observed on-chain). These dynamic, multi-variate scores are much harder to game and therefore more likely to reveal accurate, actionable insights. What the data tells us about 2024 The above approach provides a fresh perspective on each chain’s user activity through 2024. Let’s zoom in on some of the more surprising findings. Solana (the top light blue line that peaks at ~2.75) attracted a huge share of high-quality users between February and mid-March, but engagement quality has fallen since. Interestingly, this downslide coincided with SOL’s first price and trading volume spike of 2024, and has continued through the current memecoin mania. Repetitive actions have diminishing returns when assessed using a Bayesian model, meaning multiple token swaps yield smaller score improvements than engagement across multiple types of activities, for any given wallet. This suggests most Solana users are currently engaged in a narrow range of on-chain activities that aren’t contributing to Solana’s multi-sector growth. As for Ethereum supporters (the bottom orange line that begins at just above 1) who expected this year’s ETH ETFs to be a game-changer, the numbers paint a different picture. Ethereum’s low and stable user score through H1 2024 suggests that this year’s bullish developments did not spur broader ecosystem participation such as DeFi activity and protocol governance. It’s also worth noting that Axelar (the dark blue line that begins at 2.5) had the most active users across the broadest range of on-chain activities relative to its total user base, according to the data. While Axelar is currently much smaller by TVL than the legacy chains dominating today’s headlines, this is an intriguing signal that warrants closer inspection — and would have been missed if we were looking at market cap or trading volume alone. The takeaway here isn’t that Solana is doomed and Axelar will inevitably become the world’s biggest chain. There is limited value in comparing these types of scores across chains, since each score is proportional to the user quality of its corresponding chain. In other words, a Solana user with a score of “4” may be very different from a “4” on Axelar, given the differences in each chain’s baseline activity. As such, these scores are most useful when tracking changes in the quality of a chain’s overall user activity over time, not cross-chain comparisons. Predictions for 2025 With that said, what does each chain’s user quality track record tell us about next year? For starters, it’s clear that Solana faces significant challenges and opportunities entering 2025. The chain’s trajectory depends on its ability to retain its massive casual user base and expand their range of on-chain interactions. Failure to do so could result in a significant slump once memecoins cool off — although data from early 2024 suggests the chain has a large contingent of quality users that will endure regardless of what happens short-term. 2024 demonstrated Axelar’s ability to attract a concentrated user base engaged in diverse, sustained on-chain activities, rather than speculative surges. Now, Axelar’s challenge will be upscaling its ecosystem without diluting the quality of its user base. This may involve prioritizing high-profile partnerships to unlock new audiences while creating more newbie-friendly onramps across its dApp ecosystem. Ethereum’s fragmentation has shifted many active users to its faster, cheaper L2 ecosystem, and so we may see mainnet activity increasingly consolidate around core features protocol staking and governance. These activities are critical for the broader EVM ecosystem, but this trajectory may be penalized by scoring systems that reward diverse on-chain engagement. This dynamic underscores a challenge for scoring systems: prioritizing wide-ranging user activity can present an incomplete picture when applied to task-specific networks (or general purpose chains that are evolving into something more specialized). As a result, it’s important to clearly define what success means for whatever chain is being evaluated and use a scoring system that captures the corresponding user actions. A better way to define, and drive, on-chain growth Web3 has spent too long chasing the wrong metrics and failing to view the data in aggregate. In 2025, the winners will be those who find multivariate ways to measure — and act on — what matters most: user quality. By incorporating new scoring methods into their dashboards, on-chain intelligence platforms can provide more meaningful insights to investors and industry observers. At the same time, Web3 builders can use these scores to clarify top priorities and drive user engagement and value creation. Ultimately, this will help the entire industry shift away from hype-driven narratives to data-backed strategies that unlock the full potential of Web3 in 2025 and beyond.

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MicroStrategy Continues Bitcoin Buying Spree With Latest 5,262 BTC Purchase Amid Nasdaq-100 Entry

On Monday, Bitcoin treasury company MicroStrategy announced that it had spent roughly $561 million to acquire additional Bitcoin as it remains uber-bullish on the world’s largest and oldest cryptocurrency. This marks its seventh consecutive week of Bitcoin purchases . The purchase comes as MicroStrategy officially begins trading as a member of the Nasdaq-100 equity index. MicroStrategy Buys More Bitcoin At An Average Price Of $106K According to a Monday announcement , MicroStrategy purchased 5,262 Bitcoin between December 16 and December 22 and now holds 444,262 BTC in total, valued at over $41 billion as of press time. MicroStrategy bought its latest Bitcoin at an average price of $106,662 per coin — the highest cost the firm has ever paid per BTC. The latest purchase contributes to the firm’s outstanding Bitcoin yield of 47.4% quarter-to-date and 73.7% year-to-date, raising the average cost to $62,257 per Bitcoin. MicroStrategy has acquired 5,262 BTC for ~$561 million at ~$106,662 per bitcoin and has achieved BTC Yield of 47.4% QTD and 73.7% YTD. As of 12/22/2024, we hodl 444,262 $BTC acquired for ~$27.7 billion at ~$62,257 per bitcoin. $MSTR https://t.co/asDGerBV7q — Michael Saylor (@saylor) December 23, 2024 According to a Monday SEC filing, the Tysons, Virginia-based company financed its Bitcoin purchase by selling shares of its stock. Last week, MicroStrategy sold 1.3 million shares, generating roughly $561 million in net proceeds. While MicroStrategy has been snapping up the apex crypto since 2020, Monday’s announcement came at a historic time for the Michael Saylor-founded company. MicroStrategy was added to the Nasdaq-100 index earlier this month. MicroStrategy’s shares officially started trading as part of the index on December 23. The listing is bullish for the crypto industry as it indicates more mainstream acceptance of the fast-growing sector. Back in October, MicroStrategy announced plans to raise $42 billion in capital to support further Bitcoin purchases as part of its treasury reserve strategy. As of December 22, the firm revealed it had about $7 billion worth of shares still available for sale as part of its planned $21 billion equity offering and $21 billion in fixed-income securities. Bitcoin Price Action MicroStrategy’s latest BTC purchase aligns with Michael Saylor’s pledge earlier this month to continue scooping up BTC even at peak prices. “I’m sure that I will be buying Bitcoin at $1 million a coin — probably $1 billion dollars a day of Bitcoin at $1 million a coin,” Saylor posited. However, the price of BTC has plummeted by around 13.7% over the last six days since hitting a new record high mark above $108,000. The correction came after Federal Reserve Chair Jerome Powell said the central bank would reduce interest rates at a slower pace in 2025. Powell also clarified that the Fed was “not allowed to own Bitcoin” and “not looking for a law change.” The top crypto was changing hands for $93,458 as of publication time, representing a 2.3% drop on the day.

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Bitcoin Miner Terawulf to Deliver 70 MW Data Center Infrastructure for AI Expansion

Terawulf Inc., a bitcoin miner and digital infrastructure provider, has signed agreements to deliver over 70 megawatts of data center infrastructure to Core42, a subsidiary of G42 specializing in artificial intelligence (AI) and cloud services. Terawulf Secures Key AI Data Center Deal with G42’s Core42 The agreement will see Terawulf (Nasdaq: WULF) customize its Lake

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If History Repeats Dogecoin Has Potential For A Parabolic Rally – Details

Dogecoin (DOGE) has faced significant volatility, with the price plunging 45% from its multi-year high of $0.48. Despite the sharp correction, DOGE has managed to hold above the critical $0.30 level, providing hope for a potential rebound. This level now serves as a vital support zone as bulls aim to reclaim momentum. Related Reading: Ethereum Whales Bought $1 Billion ETH In The Past 96 Hours – Details Top analyst Ali Martinez has drawn attention to an intriguing comparison on X, highlighting similarities between Dogecoin’s current price behavior and its performance in 2017. According to Martinez, DOGE’s historical patterns suggest that periods of sharp corrections have often preceded explosive parabolic rallies. If history repeats itself, Dogecoin could be gearing up for another meteoric rise. Market sentiment remains a mix of caution and optimism as traders monitor whether DOGE can maintain support and establish a foundation for upward momentum. The comparison to 2017 adds weight to the bullish case, as Dogecoin is well-known for its rapid and unpredictable price surges. 2017 vs 2025: What To Expect? Dogecoin (DOGE) appears to be mirroring its historical price patterns, setting the stage for a potential parabolic rally in 2024. According to top analyst Ali Martinez, who shared a detailed technical analysis on X, Dogecoin’s current price structure closely resembles its behavior during previous bull runs in 2017 and 2021. This comparison has sparked excitement among investors anticipating a massive breakout. In 2017, Dogecoin experienced a 212% surge, followed by a 40% retracement before skyrocketing 5,000%. Similarly, in 2021, DOGE surged 476%, retraced 56%, and then achieved an astonishing 12,000% rally. Now, in 2024, Dogecoin has already climbed 440% and retraced by 46%. Martinez notes that if history repeats itself, DOGE could be gearing up for another explosive rally, potentially breaking its all-time highs and entering price discovery. Such a pattern indicates that Dogecoin may deliver gains far beyond current expectations. A move into price discovery could propel DOGE to unprecedented levels, driven by renewed investor enthusiasm and FOMO (fear of missing out) as it regains momentum. Related Reading: Bitcoin Will Test ATH Once It Breaks This Strong Supply Zone – Details While past performance doesn’t guarantee future results, Dogecoin’s ability to replicate its historic cycles makes it one of the most closely watched cryptocurrencies. If the meme-inspired coin follows its established trend, 2024 could mark another defining chapter in Dogecoin’s journey. Dogecoin Testing Crucial Demand Dogecoin (DOGE) is currently trading at $0.31 after enduring days of significant volatility and uncertainty. The recent rebound from the $0.26 low has provided a much-needed boost to investor confidence, suggesting that DOGE’s price may have found solid footing to build further momentum. This quick recovery indicates underlying strength, raising hopes for continued upward movement. However, the $0.31 level remains a critical barrier for Dogecoin. If the price fails to reclaim and hold this level as support, it could result in a period of sideways consolidation, potentially delaying any meaningful recovery. Such a consolidation phase would likely keep DOGE range-bound, frustrating traders looking for clearer signals of direction. Related Reading: XRP Holds Key Demand Level – Whale Activity Suggests Strength On the bullish side, a decisive push above the $0.36 mark could trigger a swift recovery, paving the way for Dogecoin to challenge higher resistance levels. Breaking this key threshold would signify renewed momentum, potentially attracting fresh buying interest and setting the stage for further gains. Featured image from Dall-E, chart from TradingView

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Bitcoin Could Face a “Quantum Apocalypse” that Would Benefit Hackers

Bitcoin’s rally toward mainstream acceptance faces a long-term threat: quantum computing. According to the Wall Street Journal, recent advancements...

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Silent Bull in Ethereum? Analytics Firm Reveals Bullish Signs

Cryptocurrency analytics firm CryptoQuant has published a detailed analysis of Ethereum’s recent performance, outlining several bullish indicators despite it lagging behind Bitcoin’s recent rally. Following the US elections, Bitcoin has seen a significant rally, even approaching all-time highs. Ethereum, on the other hand, has struggled to maintain its momentum. However, CryptoQuant’s analysis shows that fundamental metrics suggest investors remain optimistic about Ethereum’s long-term potential. According to the analytics firm, Ethereum’s Estimated Leverage Ratio remains at the highest level, indicating that investors continue to use high leverage in their derivatives trading. This metric demonstrates investors’ confidence in Ethereum’s future performance, suggesting a continued risk appetite. Related News: Binance Announces New Altcoin Project It Invested In - Also Listed on its Platform According to CryptoQuant, Ethereum’s funding rates are moderately positive, suggesting that long positions are dominant without posing a large-scale liquidation risk. The Korea Premium Index, which measures the price difference between Ethereum on South Korean exchanges and global markets, has turned positive with a significant premium. The trend suggests growing interest from South Korean investors, a market often considered a proxy for crypto sentiment in Asia, according to analysts. *This is not investment advice. Continue Reading: Silent Bull in Ethereum? Analytics Firm Reveals Bullish Signs

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Nokia Files Patent for Digital Asset Encryption

The post Nokia Files Patent for Digital Asset Encryption appeared first on Coinpedia Fintech News In a significant development for the tech and blockchain sectors, Finnish telecom giant Nokia has filed for a patent related to the encryption of digital assets. On December 23, the China National Intellectual Property Administration (CNIPA) disclosed a patent application that outlines a device, method, and computer program aimed at encrypting digital assets. The patent application also revealed that the device and program involve a component which is specifically designed for the encryption of digital assets. It also outlines the use of indexes of digital assets for encryption purposes, suggesting that the proposed technology could provide an essential function for digital asset security. Nokia’s Blockchain and Metaverse Ventures For a long time, Nokia has been exploring innovations in blockchain and the metaverse. In 2021, it launched the Nokia Data Marketplace, a blockchain-based platform aimed at facilitating enterprise-level data transactions and analysis, which uses permissioned blockchain infrastructure. This technology highlights Nokia’s commitment to develop practical blockchain solutions for businesses. In 2023, the company embarked into the metaverse with a unique project involving a 5G-connected microbrewery. Researchers in Australia and Germany collaborated in the project on brewing experiments, which utilized augmented reality (AR) technology. The researchers used digital simulations to “perfect beer” in the virtual space, which depicts Nokia’s interest in leveraging emerging technologies for innovative applications. Nokia’s efforts also extend to the telecommunications industry. On March 1, the company revealed its intentions to build network architecture to cater to the emerging innovations market. It anticipates a 22% to 25% increase in network demand by 2030. This strategy is part of the company’s broader plan to meet the needs of the rapidly growing innovations market. Nokia’s Increasing Involvement In Digital Space This move signals Nokia’s increasing involvement in the digital asset space and hints at the development of technology that could play a key role in securing cryptocurrency and other digital assets. Nokia’s entry into this space can be seen as a push by traditional telecom companies to diversify their portfolios and embrace the digital future. Besides, Taiwan Mobile, Taiwan’s second-largest telecom operator, recently obtained a virtual asset service provider (VASP) license from Taiwan’s Financial Supervisory Commission (FSC). This license allows Taiwan Mobile to establish a digital asset exchange, highlighting the growing convergence of telecom and digital finance.

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‘It’s a no brainer edge’ says analyst on massive PCHAIN and Dogecoin bet, January 10 will be key

Amid meme coin downturn, experts say PropiChain is a 'no brainer,' with 6,600% returns by January and 40,000% by 2025. #partnercontent

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‘It’s a no brainer edge’ says analyst on massive PCHAIN and Dogecoin bet, January 10 will be key

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Amid meme coin downturn, experts say PropiChain is a ‘no brainer,’ with 6,600% returns by January and 40,000% by 2025. Table of Contents Dogecoin price prediction: Should someone buy DOGE? Why PCHAIN is the best crypto to buy now over Dogecoin Forget Dogecoin – don’t miss round two of the PropiChain presale With the bearish trend surrounding most meme coins today, including greats like Dogecoin (DOGE) , one prominent analyst says investing in utility tokens like PropiChain (PCHAIN) is a ‘no brainer’. Even crypto experts share this sentiment, pointing out how this bull cycle is fueled by institutions and governments with no interest in inherently valueless tokens. While meme coins like Dogecoin will continue to dominate the market, it’s the PropiChain presale investors are betting big on, anticipating profits upwards 6,600% by January and up to 40,000% by the end of 2025. You might also like: PropiChain’s crypto presale is changing real estate investment unlocking this $300T sector Dogecoin price prediction: Should someone buy DOGE? While Bitcoin (BTC) continued its generational run past $100k to set a new ATH of $108,268 this past week, the meme coin market suffered heavy losses. However, this isn’t a mere coincidence. Dogecoin (DOGE), for example, is down across the past day (3.90%), week (23.88%), and month (17.90%), dropping to $0.3087 today. Experts say investors are liquidating their meme coin assets and diverting funds into altcoins as utility tokens enter the spotlight in this bull run. With the U.S. and many other governments, along with trillion-dollar financial institutions, looking into adding Bitcoin to their holdings, diversifying with major utility altcoins is a smart idea, as big money is expected to flow into the sector. Why PCHAIN is the best crypto to buy now over Dogecoin While many like this analysts were still catching on to PropiChain’s potential, savvy investors were quietly scooping up scare PCHAIN altcoins in round one of its presale , spending over $1.3 million within weeks of opening. Understandably, those who understood how PropiChain could change the industry wasted no time acquiring the tokens at their lowest-ever price. While round one is over, round two is open and offering PCHAIN at $0.011, the cheapest it’ll ever be again. But like many others, someone could probably be wondering, “what is PropiChain and why does it matter?” To put it plainly, PropiChain is the first full-service real estate blockchain solution for property tokenization, asset discovery, real estate transactions, and digital property management that still offers advanced artificial intelligence tools for investors. If someone is wondering how this is all possible on a single platform, it’s because PropiChain is combining blockchain, RWA tokenization, smart contract automation, a metaverse marketplace, and artificial intelligence. Together, these technologies allow PropiChain to effectively address the problems facing real estate today, including global property fraud, high financial barriers, poor market access, and inefficient operational processes for businesses. Starting with the high financial barriers, PropiChain is eliminating them with fractional ownership enabled by RWA tokenization, allowing for physical properties to be traded in unlimited fractions. Now, smaller players can play in the big leagues by investing in the same level of properties with only a fraction of the investment it’ll traditionally take. Then, leave it to advance blockchain and decentralized ledger tech to store assets in an impenetrable vault while providing a transparent record of asset ownership and transaction for everyone to verify, thereby checkmating the annual billion-dollar property fraud market. But PropiChain is more than just an asset tokenization and storage platform; it is a fully-fledged real estate metaverse marketplace, offering users virtual property tours, virtual meetings, and the ability to virtually stage assets to test interior decorations and layouts without paying inspection fees. Already, PropiChain is unmatched, but its inclusion of smart contract automation is setting the platform miles ahead of its competitors. Instead of wasting precious time and money in leasing properties and following up with tenants for rental payments, PropiChain is offering auto leasing, auto-renewals, and auto rent collection features. Whether the Dogecoin winter or make 66x gains in 30 days wth PropiChain After a double-digit decline in the Dogecoin price over the past week and month despite the Bitcoin milestone, investors are more than convinced of the shifting market sentiment. For those seeking the best altcoins to buy now , PropiChain might prove to be a great choice, as the PCHAIN price can skyrocket from $0.011 to $0.732, yielding round-two investors 6,600% by the end of January. Forget Dogecoin – don’t miss round two of the PropiChain presale 2025 is about to begin, and the search for the next millionaire minting altcoin is underway, seeing as the number of crypto millionaires doubled in 2024 alone. Ironically, as meme coins lose momentum, PropiChain is poised to mirror the explosive early Dogecoin price movements. With over $1.7 million raised in the PCHAIN presale so far, investors are indicating their unwillingness to miss the altcoin powering the real estate blockchain movement at $0.011, the lowest price it’ll ever be again. Although investors are excited by PCHAIN’s 400x price projections in 2025 , short-term investors celebrate the most as PropiChain is projected to rise 6,600% in the next 30 days as Trump’s inauguration is set to fuel another major bull run. To be specific, a $1,500 round-two investment can grow to $99,000 in January and up to $600,000 by the end of 2025! Yet, the window to make the maximum gains is already closing fast as the next round quickly approaches. Besides the BlockAudit security audit and CoinMarketCap listing fueling trust and excitement, the early presale success is sending shockwaves in the crypto community and sending traffic like never before. Round two has already sold $432,938, pushing the presale closer and closer to the final round. Click the links below to join round two of the PropiChain presale and acquire PCHAIN at its cheapest price today. For more information about the PropiChain presale, visit the official website and join the online community. Read more: Cardano price momentum vs. PropiChain’s projected 30,000% ROI Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

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Bitcoin Faces Pressure as Bulls Defend $90,000 Support Amid Potential Correction

Bitcoin is facing challenges in maintaining upward momentum, with market sentiments suggesting upcoming turbulence amidst key support levels. This week’s analysis shows Bitcoin’s price volatility, with concerns about potential corrections

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