A report by QuickNode and Artemis highlights a big boost in blockchain activity in the first quarter of 2024. The surge is linked to the approval of a BTC Exchange-Traded Fund (ETF) by the SEC in the US, which caused cryptocurrencies to be revalued.

The report shows a 146% increase in daily active addresses (DAA) across different sectors, with Stablecoins leading at 1.1 million DAA, followed by DeFi with 611,000 DAA. Ethereum's Dencun upgrade led to a 95% reduction in transaction fees, and Layer 2 blockchains saw a doubling of Total Value Locked (TVL) to over $43 billion.

Investments in blockchain startups also rebounded with a 36% increase in Q1 2024, with notable funding going to startups like Berachain and 0G Labs. The report forecasts continued growth in blockchain products like stablecoins, NFT gaming tech, and Layer 2 infrastructure.

The approval of the BTC ETF in January 2024 sparked a resurgence in the blockchain market, driving a significant increase in Daily Active Addresses. Stablecoins, benefiting from regulatory clarity and stability, dominated, with USDC leading in transaction volume and size.

The DeFi sector is primed for potential growth, especially with Solana memecoin mania driving gains. Solana and Base saw increases in active addresses, transactions, and overall ecosystem health. The gaming sector also saw substantial growth, with Layer 2 solutions like Arbitrum and Base improving blockchain efficiency.

In conclusion, the Q1 2024 OnChain Report illustrates the vibrant and evolving nature of the blockchain industry. QuickNode's extensive on-chain activities and Artemis's data analytics provide valuable insights, highlighting the resilience and potential of blockchain technology for broader adoption in the digital future.