In 2023, ETH L2 Networks Will Continue To Grow At Very Fast Rate

Recent months have seen a rise in the number of daily active users and fees on Ethereum’s top layer-2 networks.

In the past few months, Ethereum layer-2 networks have grown at a very fast rate, and this is likely to continue in 2023.

Recent data shows that the top layer-2 networks have seen an increase in the number of daily active users, which has led to an increase in fees for each ecosystem.

Token Terminal, a company that does analytics, says that Polygon is in the lead with 313,457 daily active users as of Jan. 17. Earlier in January, this number went up to over 600,000 daily active users.

That’s a 30% rise in activity since the beginning of October, which means that Polygon is making almost $55,000 a day in fees.

The number of daily active users on Optimism has grown even faster, by 190% in the last three months. This led to daily network fees of $119,475, which is an increase of almost 140% since the beginning of the year.

The number of people who use Arbitrum One every day has grown by about 40% in the last three months, to 41,694. The data show that the daily fees on the network are just over $40,000.

L2beat, an analytics platform for the L2 ecosystem, says that Arbitrum has a 52% market share in terms of total value locked (TVL), which is currently $2.55 billion. Over the past week, Aribtrum’s TVL has gone up by 9%.

The second-biggest L2 network, Optimism, has a TVL of $1.46 billion, which gives it a 30% market share. Over the past week, its collateral locked has gone up by 15%.

Together, they make up more than 80% of all the collateral that is locked in layer-2 platforms.

Over the past week, the TVL for all L2s has gone up by almost 10%, bringing the total TVL to $4.89 billion. But that number is still 34% lower than when it was at its highest in April.

Still, this drop isn’t even half of what DeFi TVL has lost since its all-time high. DeFiLlama says that the value of DeFi collateral has dropped by 75% since December 2021. This suggests that there is more demand and momentum for layer-2 networks right now.

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