March 10, 2023, 9:36PM EST
• 7 min read

February Layer 1 Landscape Recap

Quick Take

  • 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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