Blockchain Landscape 2024: From Infrastructure Competition to Application Innovation

2024 saw blockchain market capitalization surge 105.3% to $2.8 trillion, with Bitcoin reaching $100,000 and dominance rising to 69.8% while Ethereum’s share fell from 20.4% to 15.2%. DeFi TVL reached $102.8 billion (up 88.6%), Bitcoin Layer 2s/sidechains posted 1,277.6% TVL growth to $2.6 billion, and Ethereum Layer 2 consolidated around Arbitrum ($10.6 billion, 41.1% share) with Base second at $5.8 billion. The report frames an industry shift from “Build it and they will come” toward identifying specific user needs.