Ethereum’s Layer 2s are bustling with activity. The latest information suggest that the ecosystem has reached a caller grounds for regular transaction volume.

In fact, these networks were besides recovered to clasp present much stablecoins than Solana and Binance Chain combined.

Ethereum Layer 2 Ecosystem Growth

According to the stats compiled by Growthepie, the regular transactions crossed Ethereum’s Layer 2 ecosystem reached 12.42 cardinal connected August 12, mounting a caller peak.

Weighing connected the caller milestone, Leon Waidmann, caput of probe astatine the Onchain Foundation, besides said that the fig highlights the accelerated advancements successful scalability, perchance driving idiosyncratic engagement to caller heights.

Furthermore, Growthepie reported a 140% summation successful regular transactions successful the Layer 2 ecosystem year-to-date. It’s important to enactment that the analytics level lone includes user- oregon astute contract-executed transactions, excluding strategy transactions.

The Coinbase-incubated Layer 2 blockchain, Base, importantly contributed to this growth, surpassing 4 cardinal transactions successful July alone. This fig has present travel down to 3.6 million, but Base has consistently managed to outperform Arbitrum, becoming the Ethereum Layer 2 web with the astir transactions since aboriginal July.

Currently, Arbitrum’s transaction fig stands supra 1.85 cardinal followed by Optimism with astir $476k.

Stablecoin and Wallet Activity

Growthepie further revealed the Layer 2 networks successful the Ethereum ecosystem present surpass some Solana and Binance Chain successful stablecoin holdings, with 150% much stablecoins than Solana and 94% much than BSC. Additionally, Layer 2s are besides showing an borderline successful unsocial wallet activity, boasting implicit 4% much progressive addresses than Solana connected a 7-day rolling average.

This operation of a larger stablecoin proviso and accrued wallet enactment suggests a increasing spot successful L2 solutions.

These findings rise questions astir capitalist sentiment and whether they are perchance overvaluing Solana oregon undervaluing L2s. Interestingly, Layer 2’s Fully Diluted Valuation (FDV) peaked astir the clip of EIP 4844, reaching astir $95 cardinal – exceeding Solana’s FDV astatine the clip – but has since decreased to $31 billion, present smaller than Solana’s.

The station Ethereum Layer 2 Networks Set New Record with 12.42M Daily Transactions appeared archetypal connected CryptoPotato.