Tezos’ Etherlink L2 booms with 184% surge in contract deployments, Messari Q4 2024 report shows

In the fourth quarter of 2024, Tezos etherlink, the compatible EVM compatible 2 solution, saw its contractual deployment increase by 184%.

In the fourth quarter of 2024, Tezos etherlink, the layer 2 compatible EVM, saw its contract deployment increases by 184%, with more than 1,700 new contracts deployed, according to The state of tezos q 2024 report by message.

The network DEFI sector Also saw a boost, with the total locked value (TVL) by Etherlink increasing considerably, drawn both by the increase in tezos (Xtz) Price and the appeal of the platform for lower costs and faster transaction speeds. However, this Etherlink TVL growth took place at the expense of Tezos L1, which experienced a decline in its TVL.

However, Tezos L1 also prospered, with an increase in QOQ of 18% of contract deployments, totaling 5,800 new contracts. In addition, Tesoz L1 experienced a 30.4% increase in transaction costs income compared to the previous quarter, a significant increase of 90.8% when it is measured in USD terms. The number of daily active addresses on Tezos L1 also increased by an impressive QOQ of 37%, reaching an average of 1,800 unique addresses per day.

Finally, the Quebec upgrade has introduced several improvements to support the transparent integration of assets and DAPPs based on Ethereum, increasing the network call for DEFI applications. The combination of this upgrade with the lower costs of Etherlink and faster transactions solidified the position of Tezos as a more effective platform for developers and users. For the future, the Tezos ecosystem should evolve more, with initiatives such as the next JavaScript Rollup, which will allow developers to create intelligent contracts based on JavaScript.

Meanwhile, the native tezos token tezos (XTZ) is currently negotiated at $ 1.10, with a market capitalization of $ 1.13 billion, which makes it 83rd crypto by market capitalization.