Ethereum’s Layer 2 Transactions Hit Record 12.5 Million in a Day

On August 13, the number of transactions processed in a single day by Ethereum’s layer 2 solutions reached a record 12.52 million, according to data from Growthepie.

Since the beginning of the year, this figure has increased by more than 140%.

A significant driver has been the Coinbase-supported blockchain Base, which approached 4 million daily transactions by the end of July.

Experts at Growthepie also noted that the market supply of stablecoins in Ethereum’s L2 ecosystem has surpassed that of Solana and BNB Chain combined, reaching $9.69 billion.

? Layer 2s have more Stablecoins than SOL and BSC combined!

+150% more than Solana
+94% more than Binance Smart Chain
Using @DefiLlama data for BSC/SOL

More food for thought – Next post ? pic.twitter.com/cAjQRzQgQv

— growthepie.xyz ?? (@growthepie_eth) August 13, 2024

Meanwhile, the number of active addresses in the L2 segment, after peaking in mid-July, has begun to decline.

According to Etherscan, the number of daily transactions on the Ethereum mainnet has remained stable at around 1.1 million for most of the year. However, gas prices have dropped to their lowest levels since January.

In May, experts noted that Ethereum became inflationary again following the activation in March of the Dencun update, which significantly reduced fees in L2 networks.