Tezos Layer 1 experienced a significant increase in transaction fee revenue, while the overall network activity dropped by 5%. This decline can be attributed to the shift towards Layer 2 solutions like Etherlink, which saw a 44% increase in transactions. Despite the decrease in total transactions, daily active addresses rose by 37%, indicating a growing user base. Q4 2024 saw a boost in Web3 gaming and NFT activity on Tezos, driven by Etherlink. The total value locked (TVL) in USD rose by 6%, but TVL in XTZ terms fell by 37% as liquidity shifted towards Etherlink. Youves, Sirius, and Kord.Fi were the top protocols in terms of TVL on Tezos.



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