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Ethereum Surge: Dominating Q1 With $457M Revenue, Outshining L1 Rivals 2.8x

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Ethereum, the leading smart-contract platform, has emerged as the top revenue generator in the first quarter of 2023, outperforming all other Layer-1 (L1) platforms.

According to a report released by Messari titled “State of L1s Q1 2023,” Ethereum’s revenue reached an impressive $457 million, nearly 2.8 times higher than the combined revenue of all other featured L1 platforms.

Despite an overall rebound in the crypto market during Q1, network usage did not experience a corresponding surge. While the featured L1 platforms witnessed an average quarter-on-quarter (QoQ) increase of 83% in market capitalization, network usage actually decreased by around 2.5%.

Among the L1 platforms, Stacks stood out by outperforming its peers in various metrics. This can be attributed to renewed interest in Bitcoin programmability by Ordinals. 

Stacks led the featured L1s in QoQ growth in market capitalization (340%), revenue (218%), network usage (~35%), DeFi TVL (276%), and DEX volume (330%).

Despite Stacks’ strong performance, ETH maintained its leadership position in key financial and ecosystem metrics. It remained the leader in market capitalization, revenue, DeFi Total Value Locked (TVL), volume, NFT volume, and full-time developers.

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The report also highlighted shifts in stablecoin dominance, as USDC experienced a temporary depeg and Paxos ceased BUSD issuance. This resulted in stablecoin market cap dominance shifting toward USDT, benefiting TRON. 

TRON’s stablecoin market cap increased by 30% QoQ to reach $43.6 billion, while other featured L1 platforms with significant stablecoin market caps saw a decrease in their figures.

The Messari report provides a comprehensive overview and comparison of the financial, network, and ecosystem analyses of 14 L1 smart-contract platforms, including Avalanche, BNB Chain, Cardano, Ethereum, Harmony, Hedera, NEAR, Polkadot, Polygon, Solana, Stacks, Tezos, TRON, and WAX.

In terms of validators, all networks experienced a QoQ increase in total staked tokens denominated in USD, as expected during a market uptick. Stacks (403%) and Solana (125%) led the way in QoQ growth.

Ethereum maintained the largest security budget, with $32.6 billion in ETH staked, surpassing other networks by over $20 billion.

Ethereum Remains the Top Destination for NFT Activity

When it comes to NFTs, Ethereum continues to dominate despite higher gas fees. The report highlights Blur as the dominant ETH marketplace in terms of volume, with its average weekly share increasing from 31% to 59% QoQ. Only Polygon outperformed ETH in terms of QoQ average daily volume, showing a 101% increase.

Furthermore, Ethereum leads in daily unique NFT buyers, although the gap between ETH and other chains is smaller in this metric than in volume. 

Coinbase’s commemorative NFT launch on Ethereum attracted over 122,000 unique buyers. Polygon experienced the highest QoQ growth in average daily unique buyers, increasing by 89%.

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Ethereum Surge: Dominating Q1 With $457M Revenue, Outshining L1 Rivals 2.8x 3

Tezos also saw an increase in unique NFT buyers, surpassing 10,000 on average in the week following the launch of the free McLaren F1 collection.

However, Ethereum’s strong revenue generation, market leadership, and continued dominance in NFTs reaffirm its position as a major player in the blockchain and cryptocurrency space. 

As the industry evolves, it will be interesting to observe how other L1 platforms adapt and compete with Ethereum’s established ecosystem.

Related Reading | Ethereum’s Gas Fees And Supply On Exchanges Hit Historic Low 

Solana’s Evolution: Shifting Towards Consumer Apps & Embracing Unique User Experiences

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In a recent thread, Messari shed light on Solana’s newfound strength in consumer products, particularly those involving lower-value transactions. 

While the on-chain liquidity has declined, the platform’s developer ecosystem has shown remarkable resilience, actively building new functionalities in the consumer sector, including programmable NFTs and compressed NFTs.

Solana’s focus on consumer applications has triggered a shift in user activity away from DeFi protocols. Although the Total Value Locked (TVL) has depreciated since 2022, it’s crucial to note that TVL primarily measures DeFi protocols. 

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Its transition from DEXs and NFT markets to emerging consumer applications indicates changing user preferences.

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Key Players Driving Solana’s Short-Term Retention

Despite successfully attracting new users, the platform faces long-term user retention challenges. The network requires compelling and distinctive applications that provide a captivating user experience to sustain growth.

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By examining historical usage, protocol ecosystem connections, and gateway applications, it is possible to identify the types of applications driving its usage. This analysis can help identify new application specializations that could revive the network.

the platform’s user activity has witnessed a decline in DeFi applications but a surge in consumer protocols. Notably, tensor_hq, the leading NFT trading platform on Solana, has garnered significant attention from the NFT community due to its innovative features, feeless trading, and airdrop mechanism.

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Additionally, NFT lending platforms like SharkyFi have experienced a surge in transaction activity on Solana, altering the financial dynamics surrounding NFTs and demonstrating impressive retention rates.

Another platform gaining popularity on Solana is Saydialect, a messaging platform that leverages the platform’s NFT compression capabilities. With high retention rates and new partnerships, Dialect showcases the potential for consumer applications within the Solana ecosystem.

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the platform’s application ecosystem has undergone a significant transformation, shifting from DeFi to consumer-centric applications. The network’s infrastructure advantages and low unit costs position it favorably for consumer apps. However, differentiation and user retention remain crucial factors for its continued success.

The platform’s journey is a testament to both challenges and opportunities. Despite declining liquidity market share, Solana’s resilience and evolving ecosystem present immense potential. 

However, by fostering unique applications and enhancing user experiences, Solana can continue to thrive in the competitive blockchain landscape.

Related Reading | Litecoin Price Surges Before Halving as AltSignals Raises $876k During Presale

Solana: Co-Founder Shares Bold Vision For The Future Of Blockchain To Be Apple Of Crypto

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Solana, a prominent layer-1 blockchain disrupting the crypto industry since its launch in 2020, has set its sights on becoming the “Apple of crypto,” according to co-founder Raj Gokal’s recent interview with TechCrunch+. 

Gokal draws a parallel between Apple’s success and Solana’s relentless focus on user experience and performance, envisioning a network that combines the familiarity of the traditional Internet with the groundbreaking potential of an entirely new financial Internet. Creating a seamless user experience is crucial for any platform, whether a smartphone or a blockchain network.

“There were a lot of things to be built on top of that platform to get the iPhone and App Store and app ecosystem to where it is today, But it all started with one relentless focus on a simple interaction that had to work perfectly.”

Solana works diligently to build a fast, efficient, scalable network to materialize this vision. Gokal emphasizes that Solana’s core engineering and ecosystem prioritize ease of use and accessibility for all users, regardless of their technical expertise. By focusing on creating an intuitive and user-friendly environment, Solana aims to overcome the barriers that have hindered the wider adoption and growth of the crypto industry.

Solana is spearheading the development of innovative products and services to streamline access to crypto platforms and applications. One such product is the Saga smartphone, which debuted in April. This web3-focused Android device is optimized for decentralized applications and facilitates easy access to blockchain-based services.

Traditionally, engaging with cryptocurrencies required computer and technical know-how, alienating many potential users and impeding industry expansion. However, the Saga smartphone eliminates these obstacles, enabling users to effortlessly access crypto products and services through a device they are already comfortable with—their smartphone, which has become an integral part of their daily lives.

Solana: Paving the Way for Mass Adoption

By leveraging the convenience of the Saga smartphone, Solana aims to attract a wider audience to the crypto industry. This strategic move is crucial for the industry’s growth and adoption as it increases the number of users and businesses participating in the ecosystem. Solana’s commitment to creating an accessible network aligns with its core thesis, which revolves around nurturing new businesses, projects, and independent developers to foster a fresh and competitive ecosystem.

Gokal expresses his belief in the transformative power of even two developers working in a garage, echoing the spirit of innovation and growth that characterizes the SOL community. This collective optimism fuels the drive to push boundaries and explore new possibilities within the SOL ecosystem.

Gokal envisions Solana as the next Apple of the crypto world, leveraging its unwavering focus on user experience and performance. By creating a fast, efficient, and scalable network and developing new products and services that make crypto more accessible to a wider audience, Solana positions itself as a frontrunner and leader in the industry. The stage is set for Solana to redefine the future of cryptocurrencies, building a network that resonates with newcomers and seasoned crypto enthusiasts alike.

Related Reading: Shiba Inu Burns Billions Of SHIB In A Week Amid Price Recovery Efforts

OKX Empowers HK Retail Investors: Unveiling Access To 16 Prominent Crypto Assets

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OKX, the world’s second-largest crypto exchange, has announced the availability of listed tokens for retail investors in Hong Kong. The exchange now allows Hong Kong users to buy, sell, and convert 16 major virtual assets through their app.

The listed tokens include popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Polygon (MATIC), Solana (SOL), Polkadot (DOT), Uniswap (UNI), Chainlink (LINK), The Sandbox (SAND), Litecoin (LTC), Avalanche (AVAX), Axie Infinity (AXS), Cosmos (ATOM), Stellar (XLM), and stablecoins USDT and USDC.

The OKX app provides multiple options for purchasing tokens. Users can buy them with Hong Kong dollars (HKD), engage in peer-to-peer (P2P) transactions, or use ApplePay, Visa, and Mastercard through third-party providers. 

To meet the requirements set by Hong Kong’s regulatory framework, tokens listed on OKX must meet the criteria of the two cryptocurrency indexes launched by traditional financial institutions and have existed for at least 12 months.

Interestingly, BCH (Bitcoin Cash) is the only token included in the traditional entry index but is not listed on OKX HK. AXS (Axie Infinity) and SAND (The Sandbox) have gained attention within the industry, possibly due to the government support that Animoca, the parent company of these projects, receives in Hong Kong.

OKX Aims To Support Hong Kong’s Crypto Policy Goals

OKX has made significant efforts to ensure the security and compliance of its app. The company stands out among major crypto exchanges by publishing its monthly Proof of Reserves, which showcases its crypto holdings. 

Furthermore, the company is actively collaborating with Hong Kong authorities to demonstrate its security, custody, anti-money laundering (AML), and compliance capabilities.

Lennix Lai, OKX Global Chief Commercial Officer, emphasized the commitment of the exchange to provide a secure and user-friendly crypto trading experience for everyone in Hong Kong. 

Lai added:

We will continue to collaborate with Hong Kong regulators in the process of our licensing efforts under the new VASP regime and invest in making this city a resurgent digital assets hub in support of the government’s policy goals.

In the future, the exchange plans to release additional features to enhance further and diversify the user experience, following guidance from the Hong Kong Securities & Futures Commission.

Related Reading |  Coinbase Exchange Base L2 Unveils Criteria For Mainnet Launch, Prioritizing Safety And Security 

Solana Acknowledged As Most Scalable Blockchain By Ethereum Co-Founder Vitalik Buterin

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Solana has been referred to as the most scalable blockchain by Vitalik Buterin, co-founder of Ethereum (ETH), during his address at a conference. This remark has generated excitement and discussion within the ecosystem, suggesting Buterin’s recognition of Solana’s superior scalability compared to ETH.

It is important to note that Buterin’s recognition of Solana’s scalability does not imply a shift in allegiance or disregard for Ethereum’s capabilities. Instead, it serves as a reminder of the ever-evolving nature of the blockchain industry and the significance of ongoing innovation and progress. The Ethereum community, including Buterin, remains committed to developing Ethereum 2.0, working diligently to improve the network’s scalability, security, and sustainability.

Solana Emerges As Leading Scalable Blockchain, Vitalik Buterin 

Buterin’s bold statement is expected to positively impact the price and market value of SOL, the token utilized by the Solana blockchain. Solana is known for its advanced infrastructure that emphasizes scalability and supports Decentralized Applications (dApps) and associated tokens.

Importantly, it merges the Proof-of-History (PoH) algorithm with the widely accepted Proof-of-Stake (PoS) consensus mechanism to bolster both transaction speed and security. By utilizing PoH, the network upholds a dependable timekeeping system, ensuring smooth and efficient operations.

Contrary to that, Ethereum has emerged as a prominent pioneer in the realm of blockchain, facilitating the creation of dApps, DeFi, and smart contracts. However, it encounters a notable obstacle in terms of scalability. The platform’s slower transaction speed and substantial transaction volumes have led to congestion within the network and excessively high gas fees.

During periods of increased strain, the network experiences disruptions and outages. In such critical moments, Sol emerges as the most suitable remedy.

Despite the altcoin activity, SOL has been experiencing a continuous decline in value, showing no response to the increased usage. The growing number of new users has failed to impact SOL significantly. CoinMarketCap data reveals that the market price of SOL has fluctuated within the range of $19 to $20. As of writing, Solana is trading at $19.98, reflecting an increase in value over the past 24 hours.

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Source: Tradingview.com

The widespread belief is that continuous selling pressures have contributed to the significant decrease in SOL. During the first week of May, Solana briefly exceeded the resistance level of $22.8, but this positive momentum didn’t last long. Afterward, SOL faced a rapid decline, dropping to $21.33. Regrettably, the downward trend continued, reaching $19.98, the overall price level.

The comments made by Vitalik Buterin and the strong sentiments they are expected to generate catalyze a temporary upward trend in Solana’s price. Cryptocurrency enthusiasts will closely monitor how this recognition influences Solana’s future growth and its standing within the competitive blockchain landscape.

Related Reading: | Cardano Vs. Solana: ADA Trading Volume Surges By 70% Amidst Growing Network Competition |

Solana’s Saga Phone Takes Center Stage Amidst Bearish SOL Market

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Solana Labs has announced that its flagship Android phone, Saga, is now available for purchase and ready to be shipped to several countries, including the U.S., Canada, EU, United Kingdom, Switzerland, Australia, and New Zealand. 

The mobile phone is designed to bring the power of blockchain technology to users’ fingertips worldwide with its sleek design and premium components.

According to the announcement post, Saga is not just a phone but also offers a simplified web3 experience with Seed Vault. This secure self-custody solution protects users’ keys through biometric authentication and encryption. 

Furthermore, users can access decentralized apps without having to interact and sign transactions through their desktop web browser, thanks to the Solana DApp Store.

The Saga Genesis token is also available to users when setting up their devices. This unique device-bound non-transferable NFT serves as a key to Saga Rewards, unlocking exclusive content and offers from Solana Mobile and dApps listed on the Solana DApp Store.

The mobile phone has already received positive reviews from users who have praised its intuitive and secure design, deep integration with Solana, and innovative Seed Vault. 

As per the post, the pre-order shipments have already begun, and the company is expanding its shipping range to cover more countries soon.

However, Solana Labs is confident that Saga will revolutionize the mobile web3 experience and enable users to explore web3 right away. The company invites interested individuals to order Saga and join the mobile web3 era with this groundbreaking device.

Solana (SOL) Price Analysis

Despite a major announcement, SOL is currently showing bearish signs, as per the latest data from CoinMarketcap. The cryptocurrency is trading at $20.60, down by about 3.52% in the last 24 hours. However, the weekly chart recorded a decline of about 5.47%, indicating some market volatility. 

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Source: CoinMarketcap

In addition, SOL’s trading volume has witnessed an increase of 10.76%, reaching $455,745,488, in the last 24 hours, whereas the market capitalization has decreased by 3.60% in the same period. 

According to PricePredictions.com, Solana (SOL) is predicted to experience a bearish trend in the long term based on technical analysis, with an anticipated price drop of $0.56322 over the next 7 days. It is expected to bring the price down to $20.07 by May 16, 2023. 

Additionally, in the short term, the machine learning algorithm has also indicated a bearish trend for SOL, which suggests that investors may experience a slight decrease in the coming hours.

Related Reading | LINK Takes A Brief Dip By 5%, But Chainlink Network Shows Resilient Growth

Solana Co-founder Sparks Controversy: Ethereum Lacks Credibility, Value Extraction Too High

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In a recent tweet, Anatoly Yakovenko, the co-founder of Solana Labs, made some controversial comments about Ethereum. According to Yakovenko, Ethereum lacks neutral credibility and is not as close to a public good as Solana. He also claimed that Ethereum’s value extraction is too high and that it lacks fundamental philosophical aspects to be considered a viable L1.

The tweet responded to Abdel Bakhta’s tweet, which claimed that Solana lacks neutral credibility and its governance is not as decentralized as Ethereum. Bakhtin also claimed that Solana’s hardware requirements are too high and that it lacks fundamental philosophical aspects to be considered a viable L1.

The community responded to Yakovenko’s tweet, calling his words “fighting words” and saying that he was “feeding the trolls” who are wedged in a certain paradigm. Yakovenko, however, replied that he was a veteran of the Linux file system wars and that it turned out that one of the systems was evil.

Solana’s Credibility & Viability Debated In Community

Some community members also questioned whether Solana is credible and neutral. Yakovenko replied that the code could run anywhere and that if push came to shove, an Ethereum or Bitcoin node on a home Comcast connection would not be able to bridge the network to Russia or China.

Others in the community mentioned Bitcoin’s lack of neutral credibility and value extraction, claiming that it is not as close to a public good as the SOL network. Another community member requested that it be made not to require being turned on and off every two months.

Many community members preferred Solana over Ethereum for practical everyday use. One member stated that they could mint and verify an NFT as ticketed entry to a festival on Solana for less than what they have paid for gas on some transactions using Ethereum.

However, the comments made by Yakovenko have sparked debate within the cryptocurrency community, with some agreeing with his sentiments while others disagree. It remains to be seen how these comments will impact the future of SOL’s network and Ethereum.

Related Reading | Binance To Enable Bitcoin Lightning Network After Withdrawal Woes

Can Solana Solve Scalability Issues? DOGE Co-Founder Calls Popular Cryptos “Broken Garbage”

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Billy Markus, one of the co-founders of the popular meme-inspired cryptocurrency DOGE, has taken to Twitter to express his thoughts on the current state of popular cryptocurrencies, including Solana.

In a tweet, Markus, also known on Twitter as Shibetoshi Nakamoto, commented that high gas fees and transaction fees make popular cryptos essentially “broken garbage” unless they can scale their technology effectively.

The tweet quickly caught the attention of the cryptocurrency community, including GOKU, Director of Vibes at CodeCanvas_Art, who replied to Markus saying that Solana fixed this issue. However, Markus responded that Solana is essentially a centralized database and doesn’t really solve anything.

Another member of the community added that Solana is a VC shitcoin and that this will ultimately benefit Bitcoin in the long run. By discouraging high-frequency trading and transactions, bitcoin will become a true reserve asset with reduced volatility. 

Markus agreed, stating that L2s and L3s will eventually become “regular” day-to-day crypto applications. Still, if a cryptocurrency is not meant to scale, then it won’t be able to compete effectively in the long run.

Markus’ comments have sparked a lively debate within the cryptocurrency community, with many agreeing that scalability is a key issue that needs to be addressed in order for cryptocurrencies to become more widely adopted.

With the rise of new technologies and innovative solutions, cryptocurrencies will ultimately prevail in the highly competitive market remains to be seen.

Solana DEX Volumes Soar Beyond Pre-FTX Levels

In recent crypto news, Step Data Insights, a data analysis company, tweeted about the rebound of Solana DEX volumes after the FTX crash. According to the tweet, Solana DEX volumes have surpassed their pre-FTX levels, with $5.57B recorded in the last four months compared to $5.54B four months before the FTX crash.

GooseFX, a super exchange that allows trading cryptocurrencies, perps, NFTs, and liquidity pools, also confirmed that DEX volumes are bouncing back stronger than ever. The exchange added that the ride is just getting started, hinting at the potential for even higher volumes in the future.

A community member responded to the Step Data Insights tweet, asking how the next 100x in DEX volumes would be achieved. The response to the question was that time would tell, but several narratives are forming on Solana that can lead to higher volumes and adoption.

Another community member commented on the news, saying they always believed that decentralized exchanges were the answer. They expressed happiness at seeing more people using them, adding that it’s the true ethos of cryptocurrency – no middlemen.

Many others agreed, expressing their hopes that the trend would continue to shift towards good decentralized exchanges. However, as the crypto market continues to grow, the demand for decentralized exchanges will only increase, with Solana at the forefront of this movement.

Related Reading | Bitcoin: Here’s How BRC-20 Fuelling Rise In BTC Transactions

Solana Labs Introduces ChatGPT Plugin: Details

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Solana Labs announced the creation of an open-source reference implementation for a ChatGPT plugin that lets users interact with the blockchain.

Users will be able to transfer tokens, check wallet balances, and buy NFTs once ChatGPT plugins are released, according to the tweet.

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Solana Labs Introduces ChatGPT Plugin: Details 12

ChatGPT which created a lot of buzz lately is now joining forces with the crypto sector.

Recently Binance announced that it is integrating ChatGPT into its education platform, Binance Academy.

The exchange in a blog post dated April 24, introduced its new AI-driven tool, which it named “Binance Sensei.”

Users must ask this new “AI-powered mentor” a specific question or set of keywords from which it will provide a “concise, approximately 150-word summary” for each user.

Not long ago, Cardano founder Charles Hoskinson hinted at ChatGPT as the new focus for the proof of stake [PoS] network. Hoskinson tweeted a video of a medical practitioner and YouTuber Vinay Prasad discussing how ChatGPT could change the way that medicine is practiced on his official Twitter account.

Read more on TronWeekly.

That being said, Solana [SOL] has emerged as one of the best-performing cryptocurrencies during the first quarter of this year, according to a recent performance indicator shared by Messari, a crypto analytics platform.

Per the Messari report, Solana’s market cap rebounded in tandem with the general market by more than 118% when compared to the same quarter last year.

The growth in the market cap has been attributed to a number of factors. One of the key metrics is a 68.7% growth in SOL fees.

3 Crucial Factors in Solana Q1 Performance

The expansion of Liquid Staking Derivatives [LSD] in the protocol comes next. Marinade Finance and Lido Finance were in the spotlight in this regard, the report noted.

The once touted Ethereum killer also demonstrated its future aspirations by participating in significant ecosystem events like the Grizzlython, which drew a large crowd.

Lastly, Solana’s validators registered a massive growth that soared by 19% quarter-on-quarter [QoQ]. This metric signaled that the network progressed toward a more decentralized state.

In related developments, on April 19, 2023, the decentralized Wireless Project Helium transitioned to the Solana Mainnet following months of preparation, development, and collaboration.

Helium’s migration to Solana was approved via a community vote in September 2022.

Helium Network Moves To Solana Ecosystem Will The Migration Have An Impact On The SOL Price?

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The move of the Helium network to Solana’s ecosystem is a widely anticipated event in the blockchain world. While this move has raised many doubts among crypto fans about why and how it is going to happen, it arrives at an ideal time as markets begin to rebound.

After months of planning, development, and cooperation, the HNT Network will begin its migration to the Solana Mainnet on April 19, 2023. When the transfer is complete, the HHNT Network will enter a new era of substantially improved scalability, reliability, and utility.

What is the purpose of this migration? Why is it so important? What effect will it have on HNT and SOL pricing in perceived bull markets? We find answers to these and other questions.

Helium Has Entered A New Era On Solana

According to a recent announcement made by Helium’s official Twitter handle, all roads lead to April 19th, when the network is set to complete its shift to Solana. The migration, which began on April 18th at 9 a.m. PT/4 p.m. UTC, will be completed today. HNT is entering a new phase as its network becomes more scalable, stable, and functional.

Due to the SOL network’s more scalable platform and wider audience, HNT, a company well-known for its decentralized wireless network infrastructure, has made a daring choice to migrate there.

Additionally, the huge community of Solana and the expanding blockchain ecosystem will support the HNT network.

The Helium Foundation’s blog on the highly anticipated migration highlighted critical information on what HNT customers should expect during and after the conversion.

The Helium Foundation announced that during the network transfer and upgrade, the Helium blockchain would be suspended, existing mobile and HNT would be mapped to Solana, native hotspots would be minted as NFTs, and a snapshot of its chain would be taken.

While all of these migration processes take place, Helium Foundation has promised its platform’s customers that personal Hotspot and LoRaWAN devices will remain fully functional during the brief period of the migration window.

Regarding Helium native tokens, HNT, the foundation claimed that “LoRaWAN hotspots will no longer mine HNT tokens.”

Instead, LoRaWAN will mine IoT tokens, which will serve as both an incentive token for users and the governance token for Helium’s IoT network.

The SOL price increased over the past week as a result of Bitcoin’s upsurge, reaching a high of $26 after rising from its most recent weekly low of around $20.

While ecosystem migrations and innovative partnerships can improve blockchain communities and native token prices, HNT is the spotlight token and may be under more scrutiny than Solana when it completes its migration.

However, other market factors, such as Bitcoin gaining more ground in its uptrend, may also have an impact on SOL’s price.

Related Reading: Solana (SOL) Takes A Dip By 9%: Analyzing Potential For Recovery |

SOL 1D graph coinmarketcap 1
Source: Chart from Coinmarketcap.com