Ethereum remains the largest absolute volume chain, but WalletConnect is EVM-centric and she expects chain usage to diversify over time. Solana and institutional-specific chains like Canton are showing strong competition and new partnership activity.
After MiCA came into effect, WalletConnect saw a large outflow/reduction in USDT volumes from the European area, partly replaced by USDC. Overall digital asset usage in Europe did not drop, but the stablecoin mix shifted.