Ethereum

Arbitrum

Base

Polygon

<ul> 
 <li aria-level="1">Ethereum’s Layer 2 networks log 12.2 million transactions in one day, showcasing a major shift in blockchain utility.</li> 
 <li aria-level="1">Base Network leads with 3.6 million transactions, outperforming established Layer 2s like Arbitrum One and demonstrating rapid growth.</li> 
</ul> 
Ethereum’s layer 2 (L2) networks are experiencing a surge in transactions, marking a significant shift in the blockchain. While Ethereum’s mainnet still battles to reclaim its peak prices, its L2 solutions are achieving new operational highs, reflecting a broader trend of adoption and utility beyond the primary blockchain. 
<figure id="attachment_87065" aria-describedby="caption-attachment-87065" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-87065" src="https://www.ethnews.com/wp-content/uploads/2024/08/Ethereum-layer-2-transaction-count.jpg" alt="Ethereum-layer-2-transaction-count" width="995" height="466">
 <figcaption id="caption-attachment-87065" class="wp-caption-text">
 Source: Growthepie.xyz
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</figure> 
Recent data highlights that Ethereum L2s have collectively processed a record 12.2 million transactions in a single day. This volume is particularly notable as it solely pertains to layer 2 networks and excludes any mainnet or exchange-based transactions. 
<figure id="attachment_87069" aria-describedby="caption-attachment-87069" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-87069" src="https://www.ethnews.com/wp-content/uploads/2024/08/Ethereum-Transaction-Count-Total.png" alt="Ethereum-Transaction-Count-Total" width="2048" height="1152">
 <figcaption id="caption-attachment-87069" class="wp-caption-text">
 Source: CryptoQuant
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</figure> 
Base network leads this surge, with over 3.6 million transactions, significantly outpacing others like Arbitrum One. 
This uptick in <a href="https://www.ethnews.com/token-bonanza-ethereums-l2-starknet-launches-airdrop-campaign-delivering-700m-strk-tokens-to-1-3m-wallets/">L2 usage</a> is primarily driven by newer entrants such as Manta, which alone reported more than 1.31 million transactions. Since August 5, Manta’s activity has shown a robust increase, indicating its rising prominence within the Ethereum ecosystem. 
<figure id="attachment_87073" aria-describedby="caption-attachment-87073" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-87073" src="https://www.ethnews.com/wp-content/uploads/2024/08/Ethereum-Active-Addresses-2048x1152-1.png" alt="Ethereum-Active-Addresses-2048x1152" width="2048" height="1152">
 <figcaption id="caption-attachment-87073" class="wp-caption-text">
 Source: CryptoQuant
 </figcaption>
</figure> 
Interestingly, the current rise of these newer L2s has shifted some attention away from established players like Polygon and <a href="https://www.ethnews.com/optimism-op-and-algorand-algo-falling-short-on-all-charts-has-holders-scrambling-for-share-of-rollblocks-rlbk-75-price-increase/">Optimism</a>. This transition is visible in the transaction counts and fee contributions, where networks like Base are now predominant. 
Comparatively, the Ethereum mainnet has seen a decline in transactions year over year. From a peak of nearly 2 million transactions in January to just over 1 million in August, the mainnet’s activity has tapered. 
In contrast, the total number of active addresses on Ethereum L2s reached a high of 2.52 million in June, dwarfing the mainnet’s count of 303,268 on the same day in August. 
<figure id="attachment_87081" aria-describedby="caption-attachment-87081" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-87081" src="https://www.ethnews.com/wp-content/uploads/2024/08/Ethereum-layer-2-active-addresses.jpg" alt="Ethereum-layer-2-active-addresses" width="960" height="406">
 <figcaption id="caption-attachment-87081" class="wp-caption-text">
 Source: Growthepie.xyz
 </figcaption>
</figure> 
This shift suggests a significant reallocation of activity from Ethereum’s mainnet to its faster, more cost-effective layer 2 networks. Such trends underscore the evolving landscape of blockchain networks, where layer 2 solutions are not just supporting the mainnet but are becoming central hubs of activity and innovation themselves.&nbsp; 
The data not only illustrates the current state of <a href="https://www.ethnews.com/is-ethereum-losing-its-edge-paypals-pyusd-finds-a-new-home-on-solana/">Ethereum’s network</a> load but also foreshadows the increasing importance of L2 solutions in handling Ethereum’s scalability effectively. 
The post <a href="https://www.ethnews.com/ethereum-investors-rejoice-layer-2-surge-could-mean-massive-profits/">Ethereum Investors Rejoice: Layer 2 Surge Could Mean Massive Profits!</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

Ethereum Investors Rejoice: Layer 2 Surge Could Mean Massive Profits!

ETHNews

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