Ethereum

Arbitrum

Optimism

Coin

<ul class="news-points"> 
 <li><strong>Activity on Ethereum L2s in 2023 was time 90x what it was during the 2021 bull market.</strong></li> 
 <li><strong>If bulls defend the $1.29 support, ARB may rebound in the short term.</strong></li> 
 <li><strong>OP can drop as low as $3.34 as selling pressure continues to increase.</strong></li> 
</ul> 
<p>According to IntoTheBlock, activity shifted from the <a href="https://coinedition.com/ethereum-eth-price-prediction/">Ethereum (ETH)</a> Mainnet to its Layer-two (L2) protocols in 2023. The blockchain intelligence firm, in its post on X, noted that transactions increased on the L2s 90 times compared to what it was in 2021.</p> 
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   <p lang="en" dir="ltr">In 2023, activity on Ethereum has increasingly moved to L2s, with L2 transactions increasing by 90x compared to 2021 <a href="https://t.co/FhWJ1WG2ju" target="_blank" rel="nofollow">pic.twitter.com/FhWJ1WG2ju</a></p>— IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1741006389139353897?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">December 30, 2023</a>
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<p>Ethereum L2s were developed as a way to solve the scalability issues users face on the main chain. Roughly, the Ethereum Mainnet processes 15 transactions per second. This process also comes with high gas fees.</p>    
<p>However, the launch of optimistic rollups including <a href="https://coinedition.com/arbitrum-arb-and-optimism-op-are-ready-to-run-analyst/">Arbitrum (ARB)</a> and <a href="https://coinedition.com/analyst-unveils-optimism-op-strategy-after-recent-hike/">Optimism (OP)</a> meant that users could process transactions with increased speed and reduced costs. The adoption of these L2s has also impacted their respec…</p>
<p>The post <a href="https://coinedition.com/ethereum-l2-activity-rises-whats-in-it-for-arb-and-op/">Ethereum L2 Activity Rises: What’s In It for ARB and OP?</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Ethereum L2 Activity Rises: What’s In It for ARB and OP?

Coin Edition

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