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Ethereum Layer-2 Ecosystem Hits Record 12.4M Daily Transactions, Driven by Base Blockchain

Ethereum's L2 ecosystem reached a record 12.4 million daily transactions, fueled by Coinbase's Base blockchain and growing memecoin activity. Scalability surges in 2024.

Ethereum's Layer-2 (L2) ecosystem has reached an unprecedented milestone, processing a record 12.4 million transactions in a single day. The surge is primarily driven by Coinbase’s Base blockchain, which has seen a rapid increase in user activity, particularly from the memecoin community. As scalability improves, the Ethereum L2 landscape is experiencing explosive growth, setting the stage for continued expansion in 2024.


A golden Ethereum (ETH) coin, symbolizing the growth and scalability of Ethereum's Layer-2 ecosystem in 2024.
Ethereum's Layer-2 ecosystem achieves record transaction volumes, with Base blockchain leading the charge in 2024.

Key Points:


  1. Record Transaction Volume: On August 12, Ethereum’s L2 ecosystem processed a record 12.4 million transactions, marking a new all-time high for daily activity.


  2. Base Blockchain's Impact: The growth is largely fueled by the Base blockchain, which saw transactions peak at over 4 million in July, driven by memecoin activity.


  3. Rapid Growth in 2024: The L2 ecosystem has seen a 140% increase in daily transactions since 2024, highlighting the rapid adoption of these scaling solutions.


  4. Stablecoin Dominance: L2 networks now hold more stablecoins than both Solana and Binance Chain, with 150% and 94% more, respectively.


  5. Ethereum L1 Stability: While L2 transactions soar, Ethereum’s Layer-1 transactions remain stable, with average gas fees reaching yearly lows.



Ethereum’s Layer-2 ecosystem is thriving, with record-breaking transaction volumes and increasing user adoption, particularly on the Base blockchain. As scalability improves, the L2 landscape is set for further growth, positioning it as a critical component of the broader Ethereum ecosystem.


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