Safe posted a record transaction count in the second quarter, according to its latest report cited by The Block and relayed by BlockBeats on July 29. The crypto wallet protocol said it processed nearly 130 million transactions during the quarter, while total accounts created topped 63 million, up 20% year over year. The report also said roughly $1 of every $48 in global stablecoin supply is held in Safe.
Revenue moved in the opposite direction. Safe reported about $1.98 million in revenue for the quarter, down from $2.88 million in the first quarter, a decline of more than 30% on a quarter-over-quarter basis. The report said the drop may be tied to pressure on crypto prices.
Most of Safe’s transaction volume in the quarter came from consumer applications on World Chain and Polygon. World App accounted for 52% of activity, while Polymarket made up 35.7%. The report also gave an update on Safenet, Safe’s onchain security network launched in beta in April. By the end of the quarter, Safenet had handled 456,000 transaction checks, secured by staked SAFE tokens. Current staking stands at about 54.8 million SAFE.
Safe processed nearly 130 million transactions in the second quarter, setting a quarterly record, according to the protocol’s latest report cited by The Block and relayed by BlockBeats on July 29.
The report said total accounts created on Safe have surpassed 63 million, up 20% from a year earlier. It also said about $1 out of every $48 in global stablecoin supply is held in Safe.
Revenue, however, fell to about $1.98 million in the quarter, down from $2.88 million in the first quarter. That represents a quarter-over-quarter decline of more than 30%. The report said the drop may be related to pressure on cryptocurrency prices.
Consumer-facing applications on World Chain and Polygon contributed most of Safe’s transaction volume in the quarter. World App accounted for 52%, while Polymarket represented 35.7%.
The report also said Safenet, Safe’s onchain security network launched in beta in April, had processed 456,000 transaction checks by the end of the quarter. The network is secured by staked SAFE tokens, with current staking at about 54.8 million SAFE.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
