CoinDesk’s Q3 Review — CoinDesk

“DeFi summer” trudged on as total value locked in the ecosystem grew, but NFTs did their best to steal the show. The huge demand for NFTs led to huge spikes in gas fees. The spikes gave fuel to the “alternative layer 1″ narrative, which led to impressive asset price appreciation of potential substitutes, such as Solana, as users looked for cheaper smart contract blockchains on which to experiment and build.