07/23/2024
BTC67,513.0
ETH3,484.68
USDT1.0
BNB591.71
SOL157.29
USDC0.999778
XRP0.558942
DOGE0.131511
BUSD1.001
Last news
07/10/2024

Layer 2 networks are surging

07/10/2024
4,4

As we analyze the state of Layer 2 networks in the second quarter of 2024, it's evident there exists a structured ranking based on the count of unique addresses.

Leading the pack, Optimism boasted a remarkable 149.6 million addresses, with Base trailing at 84.7 million, and Arbitrum securing a place with 33.2 million. These numbers reflect significant adoption levels for these ecosystems.

However, a shift in perspective towards the daily generation of new unique addresses unveils a tight competition. Base, Optimism, and Arbitrum are in a closely contested race, demonstrating a steady flow of new entrants into their networks.

A standout moment was observed on June 1, where Base saw an unprecedented surge, adding a million addresses in a mere day.

A deeper dive into the growth of new addresses in Q2 highlights emerging contenders. Blast and Mantle, with growth rates of 175% and 160% respectively, are on a swift trajectory to capturing a significant user base.

Base also emerges victorious in the tally for the most new addresses in Q2, amassing 16 million. This narrative showcases a vibrant Layer 2 ecosystem, with stalwarts maintaining their foothold as newcomers carve out their niche.

The narrative of daily transactions further cements the supremacy of the frontrunners. opBNB, Base, and Arbitrum emerged as leaders in Q2 2024, with an impressive daily tally of 4.7 million, 2.6 million, and 1.9 million transactions, pointing towards the agility and scalability inherent in Layer 2 solutions.

Yet, the scenario is far from static. While the veterans continue to dominate, fresh faces are charting a notable path in transactional growth.

Blast, notably, saw a monumental 484% jump in transactions, underscoring its swift embrace by users. Base, with a 166% upswing, and Scroll, close behind with 89%, also deserve accolades.

As of the latest, ARB is valued at $0.6717, witnessing a 3.50% elevation in the past day. Similarly, OP's valuation ascended by 3.42%, mirroring a vibrant trend.

Despite these upward movements, the network growth for both tokens observed a downturn, hinting at a waning interest among new entrants towards the ARB and OP tokens.


Subscribe to Cryptonica.News
on social networks

The materials found on the Cryptonica website shall not be taken as individual investment recommendations. The financial instruments or operations mentioned therein may not align with your investment profile or objectives. We assume no responsibility for any missing facts or inaccurate information in the texts. Cryptocurrencies are financial assets with high risk and volatility. Therefore, it is crucial that you conduct your own research on financial instruments and make independent decisions. Before engaging in any actions related to cryptocurrency, you shall study, understand, and comply with the laws applicable in your region and country.


How useful is this article for you?
Thank you for your review!

Last news

Explore more

Arbitrum (ARB)
$0.763138
-1.0%
Buy
BNB (BNB)
$587.39
-0.8%
Buy
Dai (DAI)
$0.999224
-0.03%
Buy
Flow (FLOW)
$0.62068
1.0%
Buy
IQ (IQ)
IQ
IQ
$0.00651663
9.67%
Buy
Mantle (MNT)
$0.782705
1.38%
Buy
Optimism (OP)
$1.84
1.64%
Buy

HowTo

What is a HoneyPot in Telegram and how to recognize scammers?
Combo cards in Hamster Kombat: What are they, and how to get the reward?