Thriving Ethereum Layer-2s Shine Bright Amidst Market Challenges
Ethereum's (ETH) layer-2 solutions are shining in the crypto landscape despite market challenges, as noted by research firm IntoTheBlock.
The focus is on key players like Optimism (OP), Arbitrum (ARB), and Base.
These Ethereum scaling solutions have gained traction in recent months, with a steady stream of new projects. Notably, Coinbase’s Base, built on the OP Stack, garnered attention by briefly surpassing Optimism’s daily transactions soon after launch.
Optimism’s progress is tied to significant events, including the launch of WorldCoin (WLD) identity project on its network. This growth also translated into increased revenues, as Base shares fees with the protocol’s decentralized autonomous organization (DAO).
The rapport highlights a notable milestone: transactions between Ethereum‘s mainnet and major layer-2 platforms hit their second-highest volume, coinciding with Arbitrum’s $1.7 billion ARB token airdrop.
READ MORE: 500+ Scam Tokens Infest Coinbase’s Ethereum Layer-2 Pre-launch
IntoTheBlock underscores the robust fundamentals of the layer-2 ecosystem in the face of market volatility. Optimism’s rapid adoption of the OP Stack, Base’s rapid growth, and Arbitrum’s resilience in decentralized finance (DeFi) contribute to Ethereum’s broader adoption.
Ultimately, these layer-2 solutions are well-positioned to harness benefits from the upcoming Dencun upgrade, further propelling Ethereum’s expansion.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
