BOB crypto gears up for airdrop: Network activity, TVL surge

• The BOB airdrop has led to increased network activity.
• The TVL has also increased significantly in the past few weeks.

News has been circulating about the upcoming airdrop of tokens from the Build on Bitcoin (BOB) crypto network. Anticipation surrounding this event has resulted in a surge in several key network metrics, as per analysis reports.

Moreover, there has been notable movement in the Total Value Locked (TVL) of the network over the past few days, indicating heightened activity and interest among participants.

Bob crypto airdrop incoming

Recent reports have surfaced regarding the anticipated airdrop of the BOB crypto token.

BOB stands as a Bitcoin Layer-2 network, pioneering Rust smart contracts and boasting compatibility with Bitcoin libraries like Lightning and Ordinals.

Notably, it fully integrates with the Ethereum Virtual Machine (EVM). Leveraging Bitcoin’s hashing power ensures robust security measures. 

Initially adopting Optimistic rollups on the Ethereum OP Stack, the network intends to transition to Zero-Knowledge rollups for heightened efficiency and enhanced transaction privacy. The announcement of the airdrop has ignited activities on the network, signaling significant interest and engagement from users.

BOB crypto sees increase in key on-chain stats

Analysis of the BOB crypto network indicated that it has processed over 3.2 million transactions to date, showcasing significant user activity. Moreover, the network boasts over 88,000 addresses, reflecting a substantial user base. 

A recent analysis revealed a notable surge in the number of daily active accounts. As of this writing, the count was 7,319. The current count marked the highest volume of daily active accounts in the network’s history.

Source: Explorer

Furthermore, there has been a significant surge in the number of new accounts within the BOB crypto network. As of the latest data, the number of daily new accounts stands at 4,238, marking a remarkable increase. 

This figure represents the highest number of daily new accounts ever recorded in the network’s history, surpassing the 4,000 mark for the first time. 

BOB’s TVL sees significant increase

Activity on the BOB crypto network has been intensifying, which is evident in its Total Value Locked (TVL).

According to analysis on DefiLlama, the TVL experienced a substantial surge in May, soaring from approximately $2 million to over $40 million. 

As of the current assessment, the TVL stands at around $43.5 million.