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This report provides a recap of some of the key metrics and insights in the Layer 1 landscape in February 2023
L1 valuations took a hit in February after making significant gains in January
The largest L1s were the most resilient in terms of valuations, TVL, and network activity, but most ecosystems with the exception of Tron also saw a major outflux of stablecoins in February
Network demand remained consistent based on monthly transaction fees paid, indicating steady on-chain activity by existing L1 users
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