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In the first half of 2024, the daily count of addresses engaging with the Ethereum network and the six primary Ethereum Layer 2 protocols surged by 127%. This rise in user engagement is attributed to the expansion of the L2 ecosystem.
A report from Coinbase Institutional and Glassnode indicates that user engagement within the Ethereum ecosystem saw substantial growth in 2024. The total number of daily active addresses on the mainnet and six L2 protocols increased by 127% since the start of the year.
The rise in user engagement within the Ethereum ecosystem is driven by the advancement of Layer 2 protocols such as Optimism, Arbitrum, zkSync Era, Base, Linea, and Blast. As reported by Growthepie, the L2 protocols Base and Linea emerged as the leaders in growth this year, with daily active addresses rising by 9,999% and 2,880%, respectively, throughout the year. Together, these two blockchains accommodate approximately 1.3 million daily users.
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The report further highlights that the increase in users of L2 protocols significantly outpaced that of the Ethereum mainnet. The overall number of transactions within the Ethereum ecosystem rose by 59% in Q2 2024, with the majority of transactions occurring via Layer 2 protocols. Despite the rise in transaction volume, the total transaction fees on the Ethereum network fell by 58% due to the Dencun hard fork.
Analysts also noted a decline in user activity on the Bitcoin blockchain during Q2 2024. Specifically, there was a 20% reduction in the number of users connecting to the Bitcoin network daily, and the total number of active addresses on the network dropped by 16% compared to Q1.
Vitalik Buterin, Co-Founder of Ethereum, suggested enhancing the ecosystem of the leading altcoin by establishing a unified protocol for interaction among L2 networks, which could see its capitalization exceed $1 trillion by 2030.
Сообщение Number of Active Addresses on Ethereum and L2 Protocols Grew by 127% появились сначала на CoinsPaid Media.
