Ethereum and L2 Address Growth Analyzed by Experts

In the first half of the year, the number of daily active addresses (DAU) for Ethereum and its primary L2 solutions increased by 127%. These figures are presented in a joint report by Coinbase and Glassnode.

According to GrowthePie, Linea, Base, and Arbitrum are the three main rollups with a combined DAU of 1.8 million.

Analysts note that with the development of new, faster, and cheaper L2 solutions, the growth in the number of users of second-layer solutions has outpaced the growth of Ethereum’s equivalent metric.

“As existing and new innovative use cases for [L2 networks] develop, their adoption will grow,” the researchers indicated.

The average fee in Ethereum decreased by 58% in the second quarter, despite a 59% increase in the number of transactions. The drop in network fees followed the activation of the Dencun update in March 2024.

The situation in the network of the second-largest cryptocurrency by market capitalization contrasts with the blockchain of digital gold. For instance, the average DAU in the second quarter fell by 20%, and the number of daily active participants by 16%, according to the study.

Earlier, Ethereum co-founder Vitalik Buterin called for the creation of a unified interoperability solution for L2 networks.

Previously, ForkLog reported on the growth of on-chain metrics for the Base network.