What Ethereum killer? On-chain data shows competitor networks are still behind

Ether (ETH) remains the second-largest cryptocurrency and it absolutely dominates the smart contract industry according to an array of network usage metrics. Even though the network has been overwhelmed by peak activity which is causing median fees to surpass $10, the network effect of its large user and developer base seems to be enough to sustain its position as the second ranked cryptocurrency by market capitalization.

Nevertheless, some key on-chain metrics are beginning to show a potential change in Etheruem’s supremacy, which raises the age old question of whether an ” killer” will be able to dethrone the top network?

Smart contracts Total Value Locked (TVL) ranking. Source: defillama.com
Daily active addresses. Source: coinmetrics.io
Transactions and transfers, adjusted, USD. Source: coinmetrics.io
ETH, ADA, NEM, NEO, TRX market cap, USD million. Source: cointrader.pro