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📣 Introducing @swellnetworkio on growthepie 

About Swellchain: 
- The restaking chain, powered by proof of restake 
- An EVM chain built on the OP Stack  
- Aims to extend Ethereum security through EigenLayer restaking  

Let’s take a closer look at Swell’s metrics 👇

Restake with rswETH and join Swell L2.

Stake now to earn pearls: app.swellnetwork.io

Active Addresses: 2/15 

Looking at Swellchain’s active addresses, we can see steady growth since its launch in December 2024. On January 22nd 2025, Swellchain hit an all–time high of over 3,000 active addresses. This jump in activity happened when Wavedrop claims were enabled.  

See Swellchain’s metrics here:

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Transaction Count: 3/15 

A stronger and more consistent upward trend can be seen in Swellchain’s daily transaction count, with an all-time high of over 11,000 hit again on January 22nd. 

More to come on what users are doing with their transactions in the Blockspace section further down.

Throughput: 4/15 

This is one of Swellchain’s most consistent metrics, mostly remaining in the 0.03Mgas/s range with a gradual upward trend.

Total Value Secured (TVS): 5/15 

From its high of over $348M, Swellchain’s TVS is currently sitting above $200M. This is largely impacted by crypto prices, as a significant proportion of Swellchain’s TVS are derivatives of ETH and BTC.

Transaction Costs: 6/15 
 
After its initial spike, Swellchain has proved to be one of the most affordable Layer 2s, often has a median transaction cost of below $0.001. This puts Swellchain in the top 5 for this metric when looking at the monthly average.

Economics: 7/15 

Swellchain uses Ethereum Blobs for data availability, accounting for ~20% of its all-time costs. Looking at Swellchain’s market cap and FDV, there is a slight downward trend, which is often seen post-launch. As Swellchain is one of the newer Layer 2s in the ecosystem, there is plenty of time for these currently modest revenues to grow. More charts can be seen on the Economics Overview page.

Blockspace – Overview – Transaction Count: 8/15 

DeFi = 76k = 20.15% 
CeFi = 1.7k = 0.45% 
NFT = 556 = 0.15%  
Utility = 44k = 11.49% 
Token Transfers = 30k = 8% 
Cross-Chain = 207k = 54.7% 
*Unlabeled = 19k = 5.06%

Blockspace – Overview – Gas Fees: 9/15 

DeFi = $1.1k = 23.5% 
CeFi = $10.60 = 0.22% 
NFT = $5.92 = 0.13%  
Utility = $1.2k = 24.65% 
Token Transfers = $246 = 5.21% 
Cross-Chain = $1.4k = 30.52% 
*Unlabeled = $744 = 15.77%

Blockspace – Category Comparison – DeFi – Transaction Count: 10/15 

Most of Swellchain’s DeFi transactions come from Decentralized Exchanges (DEX) and as the chart shows there is a clear upward trend. 

DeFi Transaction Count Breakdown (past 90 days): 
DEX = 59.9k 
Staking = 8.1k 
Derivatives Exchange = 5.56k 
Lending = 1.93k 
Yield Vaults = 876

Blockspace – Category Comparison – DeFi – Transaction Count: 11/15 

Again, most of Swellchain’s DeFi gas fees come from Decentralized Exchanges (DEX); however, due to reductions in user transaction costs, the upward trend has almost reversed. 

DeFi Gas Fee Breakdown (past 90 days): 
DEX = $711.20 
Derivatives Exchange = $185.53 
Staking = $138.89 
Lending = $50.69 
Yield Vaults = $21.42

Blockspace – Overview – Transaction Count – Most Active Contracts: 12/15 

LayerZero has multiple contracts in the top 10 most active contracts and is the biggest contributor to bridging transactions on Swellchain.

Blockspace – Overview – Gas Fees – Most Active Contracts 13/15 

Again, LayerZero has multiple contracts in the top 10 active contracts for gas fees; however, Swell’s Mailbox contract takes the lead. Familiar names like Ambient Finance and Neptune Finance also make an appearance.

Ecosystem: 14/15
 
Check out the Swellchain’s Ecosystem page for more:

Ecosystem: 14/15
 
Check out the Swellchain’s Ecosystem page for more: https://www.swellnetwork.io/ecosystem

Try Now: 15/15 

See Swellchain’s metrics here:

Try Now: 15/15 

See Swellchain’s metrics here: https://www.growthepie.xyz/chains/swell

Active Addresses: 2/15 

Looking at Swellchain’s active addresses, we can see steady growth since its launch in December 2024. On January 22nd 2025, Swellchain hit an all–time high of over 3,000 active addresses. This jump in activity happened when Wavedrop claims were enabled.  

See Swellchain’s metrics here: https://www.growthepie.xyz/chains/swell