- Ethereum’s Layer 2 networks log 12.2 million transactions in one day, showcasing a major shift in blockchain utility.
- Base Network leads with 3.6 million transactions, outperforming established Layer 2s like Arbitrum One and demonstrating rapid growth.
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.
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.
Base network leads this surge, with over 3.6 million transactions, significantly outpacing others like Arbitrum One.
This uptick in L2 usage 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.
Interestingly, the current rise of these newer L2s has shifted some attention away from established players like Polygon and Optimism. 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.
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.
The data not only illustrates the current state of Ethereum’s network load but also foreshadows the increasing importance of L2 solutions in handling Ethereum’s scalability effectively.
