• Ethereum’s layer 2 options are witnessing an unimaginable surge.
• Over the previous 12 months, L2 transactions have grown from 20% to 64%.
• Latest airdrops and consumer progress are driving the adoption of layer 2 options.

Information exhibits that Ethereum’s layer 2 (L2) resolution skilled a noticeable surge, with transaction quantity growing from simply 20% a 12 months in the past to round 64%.

Well-liked analytics agency Dune Analytics lately featured a dashboard created by J. Hackworth, a knowledge scientist at Variant Fund. This dashboard has obtained quite a lot of consideration because it supplies helpful insights to match the exercise of Ethereum’s Layer 1 (L1) and its L2 options.

A 12 months in the past, simply 20% of transactions have been carried out on L2 options, in accordance with the dashboard, however that quantity has since skyrocketed to round 64%.

Layer 2 options are quickly catching up with L1, exhibiting a noticeable change in transaction quantity. Final 12 months alone, L2 noticed a staggering spike of about 332,000 transactions, whereas L1 recorded about 380,000 transactions.

If this upward pattern continues, specialists predict that L2 options might dominate Ethereum’s transactional panorama throughout the subsequent 12 months. The turning level on this transformation got here in late December 2022 for him.

Specifically, with regards to energetic customers, L2 options have solely lately began to catch up, with vital will increase seen within the second quarter of this 12 months. Final week, about 272,134 distinctive his L2 addresses have been actively concerned in his ETH community, whereas L1 recorded about 392,102 distinctive addresses.

A dashboard created by J. Hackworth reveals the elements driving this consumer progress. Latest airdrops corresponding to Optimism (OP) and Arbiad ARBI are essential in attracting new individuals to the Ethereum ecosystem.

Regardless of spectacular progress with layer 2 options, Ethereum stays considerably bigger than particular person L2 networks. Nevertheless, the surge in adoption over the previous 12 months is evident, exhibiting a optimistic outlook for Ethereum’s scalability and transaction effectivity.