Ethereum Layer-2s Gaining Momentum Despite Market Doldrums, Says Analytics Firm IntoTheBlock
According to analytics firm IntoTheBlock, Ethereum layer-2 solutions are thriving in the crypto landscape, even during a bear market. Here are the key points:
– Ethereum scaling solutions, such as Optimism, Arbitrum, and Base, have gained significant traction in recent months.
– Coinbase’s Base, built on the OP Stack, showed promising growth, surpassing Optimism in daily transactions shortly after its launch.
– Optimism benefited from the launch of the high-profile identity project WorldCoin, which is built on its network.
– The number of transactions between the Ethereum mainnet and major layer-2s reached its second-highest value in history during Arbitrum’s $1.7 billion ARB token airdrop.
– Despite market volatility, the layer-2 ecosystem has demonstrated healthy fundamentals.
– All these layer-2 solutions are expected to benefit greatly from the implementation of the Dencun upgrade and contribute to Ethereum’s broader adoption.
Hot Take: Ethereum layer-2 solutions are proving resilient and gaining momentum, offering scalability and improved functionality to the Ethereum network, which could drive wider adoption.
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