Rootstock sees surge in users… Q2 new addresses hit record high

Bloomingbit Newsroom

Summary

Messari reported that Rootstock's Q2 new addresses and active addresses hit record highs.
Rootstock's DeFi total value locked (TVL) increased 9.8%% from the previous quarter, and its share within Uniswap also expanded about fivefold.
Merge mining participation reached a record high of 97.1%%, which was analyzed as the effect of integration with Foundry, the world's largest Bitcoin mining pool.

Rootstock, a Bitcoin (BTC)-based decentralized finance (DeFi) protocol, recorded record highs in user metrics in Q2 this year.

According to a report by global crypto asset data analytics firm Messari on the 12th, Rootstock's number of new addresses in Q2 was 8307, about four times the previous quarter (2101). Active addresses during the same period also increased by 65.3%.

Messari cited integrations with new protocols such as Solve Protocol and LayerBank and support for the omnichain stablecoin 'USDT0' as the background for Rootstock's growth. The report explained, "The introduction of USDT0 has expanded access to dollar liquidity across Bitcoin DeFi (BTCFi)."

Rootstock's own campaigns also appear to have had an effect. Earlier, Rootstock ran a 'Staking Surge campaign' for one month starting in May. Analysts say that community engagement incentives and increased liquidity from that campaign contributed to inflows of new accounts and an increase in active users.

Rootstock's DeFi total value locked (TVL) in Q2 was $235,900,000, up 9.8% from the previous quarter. During the same period, its share within decentralized exchange (DEX) Uniswap also expanded roughly fivefold from $7,000,000 to $35,000,000. Merge mining participation reached a record high of 97.1%. Messari analyzed that this was "the effect of integration with Foundry, the world's largest Bitcoin mining pool."

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