Chainlink ETF - Chainlink gets its first ETF as Grayscale’s GLNK set to begin trading.
AI Agent Threat - Anthropic research shows AI agents are closing in on real DeFi attack capability.
Predictions Partnership - Myriad partners with trust wallet to launch first in-wallet prediction markets.
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New Report: State of AI 2025
We just released Messari’s State of AI 2025, a high-level briefing on how AI and crypto are converging to form a new intelligence stack. The report breaks down the major trends shaping this shift—surging inference demand, the rise of agent economies, data scarcity, and the emergence of decentralized AI (deAI) networks—and includes a full ecosystem map plus enterprise case studies like how Warden integrated crypto-native intelligence using MessariAI.
Messari's protocol reports give you a deep dive on the foundation and state of top crypto protocols, including key metrics and notable events. See the complete list of protocol reports here and get a preview of our latest report below.
Layer-1 smart contract blockchain using Liquid Proof-of-Stake (LPoS) for consensus
Token: XTZ (tez) is the native asset used for staking (“baking”), delegation, governance, and fees on L1 and on the Tezos-based L2
Tezos L1 transactions rose 21.5% QoQ; contract calls also increased, signaling healthier base-layer activity
L1 fees climbed 16.9% QoQ to 17,460 XTZ, while Etherlink L2 fees fell 36.7% QoQ to 50,220 XTZ as its Kernel 4.1 upgrade doubled gas throughput and lowered effective costs
VeChainThor is a Layer-1 smart contract platform launched in 2017, focused on real-world enterprise and sustainability use cases
Daily active addresses: +85.2% QoQ to 62.8k; daily new addresses: +54.4% QoQ to 40.9k
+32.3% QoQ to 370k, ending a two-quarter decline and reflecting broader onchain usage
~81.5% of gas now from EVM-based transactions, with EVM gas consumption up ~51% QoQ
High-performance L1 for real-time apps: Somnia targets internet-scale throughput, sub-second finality, and ultra-low fees to support gaming, social, and interactive digital worlds
After a 6-month testnet (10B+ txs, 118M wallets), launched mainnet and the SOMI token, ending Q3 with a $112M market cap
Averaged 14.3M daily transactions in September and generated 199k SOMI in fees, showing meaningful retention beyond airdrop farming
Monad’s mainnet went live last week alongside the launch of MON, distributing a highly anticipated airdrop. The network arrived with one of the largest ecosystems to date on day one, with more than 74 applications deployed, and allocated 4.73 billion MON to 289,000 eligible addresses across six user categories. Of that total, 3.33 billion MON, or roughly 70%, has been claimed. All unclaimed tokens will be redirected to ecosystem development initiatives.
A week after launch, claim behavior has split into clear cohorts. Around 28% of recipients have held their entire allocation, while another 9.3% have sold only a portion of their tokens. The remaining 62.5% fully exited their position. This kind of distribution reflects a wide range of user expectations during the MON initial drop, with the majority of users selling their MON airdrop shortly after the launch.
MON has since retraced its move that saw it run up to $0.049 and has now settled at around the $0.028 price, reversing the early post-launch move. Holders who did not sell during the initial rally have now round-tripped the move. Even so, there are catalysts that may influence behavior in the coming weeks. Monad Momentum, the network’s user acquisition initiative, is now live and offers a range of incentives for projects that can attract sustained user activity.