Ethereum

Blast

Arbitrum

Immutable

Base

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<p dir="ltr">The past month has witnessed a boom in activity across&nbsp;<a href="https://u.today/ethereum-layer-2-adoption-surge-pushes-tvl-close-to-30-billion-details" rel="noopener noreferrer nofollow">Ethereum layer-2 networks</a>, with combined L2 throughput outpacing transactions on the Ethereum (ETH) mainnet. Surprisingly, the price of ETH has also dropped drastically within the daily time frame.</p>
<h2 id="ethereum-s-l2-performance">Ethereum’s L2 performance</h2>
<p dir="ltr"><a href="https://l2beat.com/scaling/activity" rel="noopener noreferrer nofollow">According</a> to L2beat, the daily average scaling throughput of Ethereum’s layer-2 ecosystem hit a record high of 175.33 on Aug. 14.&nbsp;</p>
<p dir="ltr">The milestone comes as Base has overtaken the Ethereum mainnet, with daily activity sitting at 46.98 TPS - compared to 14.8 TPS for Ethereum. In the last 30 days, the transaction count for Base is about 111 million, while Ethereum's is far behind at 33 million.</p>
<p dir="ltr"><a href="https://u.today/base-flips-optimism-op-as-biggest-l2-in-op-stack" rel="noopener noreferrer nofollow">Base</a>, an L2 solution launched by Coinbase, experienced a 15.59% growth in activity TPS in the past week. Base's unique features, like increased transaction speed and improved efficiency, have strengthened activity. The rising popularity of&nbsp;<a href="https://u.today/friendtech-smashes-ethereum-eth-in-daily-fees" rel="noopener noreferrer nofollow">Friend Tech</a>, a social app that allows users to own personalized shares, has also sparked activity on Base.</p>
<p dir="ltr">Meanwhile, Taiko ranks second with 21.58 TPS, Arbitrum with 20.94 TPS and Immutable with 20.59 TPS. However, Arbitrum and Base still command a large percentage of the $36.42 billion in total value locked in layer 2s, with $14.5 billion and $6.2 billion, respectively. Optimism comes in third with $5.5 billion, Blast with $1.75 billion and Mantle with $1.2 billion.</p>
<h2 id="ethereum-s-price-drop">Ethereum’s price drop</h2>
<p dir="ltr">The price of Ethereum has been experiencing short-term volatility amid a broader bearish outlook on the market.&nbsp;</p>
<p dir="ltr">As of this writing, ETH trades at $2,665, decreasing by 3.5% in the past day. At the same time, the trading volume also declined by 6.5% to $14 billion. This price reduction in the cryptocurrency might have been fueling reduced throughput.</p>

Ethereum (ETH) Demoted in Crucial Layer-2 TPS Ranking: Details

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