Developer activity and adoption is the key to success, the report said.

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MakerDAO, the DeFi organization that facilitates the generation of the DAI stablecoin, is releasing Spark Protocol – a lending platform that will rival Aave.

Its assets as of Dec. 31 stood at $67 billion, with liabilities of $66 billion, almost all of which relates to digital tokens issued.

The move followed on the back of Umami making changes to how its value accrual token worked.

Ethereum’s staking ratio is around 14% compared with an average of 60% for the other major PoS blockchains.

Transactions are coming from the popularity of the recently-deployed protocol Ordinals, which allows for NFT-like tokens to be stored on-chain.

Plans to transform the bankrupt crypto lender into a “recovery corporation” are not a done deal, and the estate could still be liquidated, legal filings warn.

The commitment comes as AI-focused tokens take over the narrative in crypto circles.

The troubled mining firm had to sell its biggest facility to stave off bankruptcy.