In the evolving Web3 landscape, the distinction between successful chains and those struggling for traction will increasingly depend on their ability to interpret user engagement data. While Solana experienced a surge in high-quality user engagement early in 2024, its ability to sustain diverse activity is in question as repetitive actions lead to diminished returns. In contrast, Ethereum's user engagement remained stable, indicating that recent bullish developments, such as Ethereum ETFs, did not translate into increased participation in decentralized finance or governance activities. Interestingly, Axelar demonstrated the highest user activity across various engagement types, highlighting its potential for future growth despite its smaller size compared to other legacy chains. Looking ahead to 2025, Solana must focus on diversifying user activities to maintain growth. Axelar should prioritize expanding its ecosystem while sustaining user engagement quality. Meanwhile, Ethereum’s activity may shift towards its core features, raising challenges in measuring success for more specialized networks.

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