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Since March 2024, the revenue generated by the Ethereum mainnet has decreased by 99%, while the monthly user engagement on Layer 2 (L2) protocols has increased twofold, with analysts associating these trends.
On September 1, Ethereum’s mainnet revenue was approximately $194,700, marking a six-month low, according to Token Terminal. During this timeframe, daily revenue for Ethereum’s Layer 1 (L1) network plummeted by 99%. In contrast, on March 5, the mainnet’s revenue was reported at $35.5 million.
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The drop in L1 network revenue coincided with the notable advancement of the Ethereum ecosystem, particularly in L2 and L3 solutions. As per L2Beat, there are currently 74 L2 protocols and 21 L3 protocols operational. Data from Token Terminal indicates that over the past six months, the monthly count of active users and daily transactions handled by L2 protocols has doubled.
The shift in activity from the Ethereum mainnet to Layer 2 solutions commenced following the successful Dencun upgrade, which occurred on March 13, 2024. A primary objective of the upgrade was to lower transaction fees for L2 networks. Subsequently, the total number of daily active addresses on the six largest Layer 2 protocols surged by 127% in the first half of 2024.
Nevertheless, the economic ramifications of the diminished activity on the Ethereum mainnet have yet to be evaluated. At the start of this year, analysts anticipated that Ethereum’s total revenue could surpass $1 billion in 2024.
Сообщение Ethereum Mainnet Revenue Falls Amid Growth of L2 Ecosystem появились сначала на CoinsPaid Media.
