Crypto News

Ethereum’s Layer 2 Ecosystem Surges: Base And Arbitrum One Lead The Charge

Ethereum’s Layer 2 (L2) ecosystem is experiencing explosive growth, with Base and Arbitrum One emerging as the top contenders, boasting over 1.5 million active addresses combined.

Base, in particular, has seen a remarkable rise in 2024, with active addresses skyrocketing from near zero to 1 million in just nine months.

Base’s success is underscored by its impressive daily transaction volume. With more than 4.2 million daily transactions, Base has set a new all-time high, surpassing both Ethereum and other Layer 2 solutions in terms of activity.

This surge in activity has pushed monthly active users on Base to record levels, while daily average transaction fees have plummeted to their lowest point ever, making the platform more accessible and cost-effective for users.

Aerodrome, Major Contributor To Base Volume 

A significant portion of Base’s volume can be attributed to Aerodrome, which has captured the majority of trading activity on the network. Aerodrome accounts for 58.2% of Base’s total volume (including Classic Liquidity and v2 volumes), and an impressive 86% of Classic Liquidity volume.

Moreover, Base has outpaced all other Layer 2 networks in terms of decentralized exchange (DEX) activity. It now boasts more weekly DEX traders than all other L2 solutions combined, solidifying its position as the go-to platform for decentralized trading.

As Ethereum’s L2 ecosystem continues to flourish, Base’s rapid growth and dominance in transaction volume and user activity make it a key player in the future of scalable blockchain solutions. With continued innovation and expansion, Base is well-positioned to lead the next phase of Ethereum’s Layer 2 revolution.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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