Ethereum Layer-2 Adoption Driving Unprecedented Growth
Hey there! Let’s talk about what’s been happening with Ethereum Layer-2 activity. Base has been making some serious moves and has become the top player in Ethereum Layer-2 activity. That’s pretty impressive, right?
There’s been a noticeable increase in Decentralized Exchange (DEX) volume, which is a big deal. People are starting to wonder if all this activity could actually make the ETH supply deflationary again. It’s all pretty exciting stuff.
Ethereum has been a bit underwhelming lately, especially when compared to other cryptocurrencies like Solana. But with all the action happening on Ethereum’s Layer-2 rollups, things might be looking up. It seems like the recent surge in Layer-2 activity, led by Base, could make a real difference.
Let’s dig into some on-chain stats to see what this could mean for the future. Base has been killing it with around 400,000 daily transactions in March and over 7 million now. Taiko and Arbitrum are also holding their own, with some pretty impressive numbers of their own.
The introduction of Blobs as part of the Dencun upgrade has been helping reduce transaction costs and even burning ETH fees. This shows that Ethereum’s focus on rollups is paying off, and Layer-2 activity is on the rise. In fact, the continued increase in Blob usage could even make the Ethereum supply deflationary again – how cool is that?
Base is really leading the charge here. With a sharp uptrend in revenue, profit, and rent paid to L1, it’s clear that they’re making some serious moves. The surge in Rent Paid to L1 even caused the Ethereum supply to briefly turn deflationary for a week in May. That’s pretty significant!
Around 40% of Base’s transactions are in Decentralized Finance (DeFi), showing a strong focus on memecoin trading. And Base’s DEX volume is only surpassed by Ethereum and Solana, which is a big deal for a Layer-2 platform.
All in all, Base is setting new records left and right, cementing its position as the top Ethereum Layer-2 platform. With higher revenue, rent, and overall activity, it’s clear that Base is the one to watch in the world of Ethereum Layer-2. Exciting times ahead!
