On March 13th, the long-awaited Dencun fork brought about a noticeable increase in the use of Layer 2 solutions on Ethereum. This was clearly seen in the spike in network activity following the upgrade.
According to Intotheblock’s recent findings, there has been a significant increase in Ethereum’s layer 2 solutions following the Denis upgrade. The data shows an impressive jump of approximately 196% in transactions processed on the top tier 2 platforms, resulting in over 5.67 million transactions overall.
- Among these, Base has emerged as the primary contributor, handling approximately 57% of the transactions. Following closely are Arbitrum and Optimism, processing 31% and 11%, respectively.
- This substantial uptick not only highlighted the growing adoption and demand of Layer 2 scaling solutions but also that ‘Base Spring’ has arrived as per ITB’s previous analysis.
- Just last week, Base’s transaction volume climbed above $1.6 billion million for the first time even surpassing already established players like Optimism as a result.
The number of transactions on ETH layer 2s has skyrocketed following the Dencun upgrade.
The number of transactions settled on the top L2s has increased by 196% to 5.67M.
Approximately 57% of these transactions are handled by Base at the moment. Arbitrum and Optimism process around 31% and 11% respectively.
— IntoTheBlock (@intotheblock) April 9, 2024
- Besides, Base has experienced a notable increase in network activity over recent months, primarily fueled by a growing frenzy surrounding memecoins.
- According to data compiled by DefiLlama data, the total value locked (TVL) on the Base network soared to a record high of $1.5 billion on April 9th, reflecting a whopping 235% rise since the start of the year, driven by the influx of meme coin frenzy into the network.
- Over the past couple of months, Layer 2 networks have noted significant expansion, with Dencun playing a pivotal role in their adoption.
- VanEck analysis even predicted that these scaling solutions could potentially reach a $1 trillion market capitalization by 2030.
Read More
- CKB PREDICTION. CKB cryptocurrency
- PBX PREDICTION. PBX cryptocurrency
- BSW PREDICTION. BSW cryptocurrency
- EUR INR PREDICTION
- GEAR PREDICTION. GEAR cryptocurrency
- ICP PREDICTION. ICP cryptocurrency
- TANK PREDICTION. TANK cryptocurrency
- Exploring the Hilarious World of Helldivers’ Ricochet Gameplay
- ‘Starting 5’: LeBron James, Jayson Tatum and Jimmy Butler Among NBA Players Featured in Obamas-Produced Sports Series
- IMX PREDICTION. IMX cryptocurrency
2024-04-14 07:08