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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    Blue chip NFTs sink double digits as ETH retreats from record highs

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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

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    What Is Impermanent Loss? How It Works, and How to Avoid It

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

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    What Is Volatility in Crypto? Why It Happens and How to Stay Safe

    What is Cloud Mining? A Beginner’s Guide

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    What Are Bitcoin Runes and RunesDEX? – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    What Are Bitcoin Runes and RunesDEX? – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    6 Under-$1 Utility Tokens with Real-World Use to Watch in the 2025 Bull Run

    6 Under-$1 Utility Tokens with Real-World Use to Watch in the 2025 Bull Run

    What is Crypto FOMO? How to Avoid Emotional Investing Mistakes

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  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Blockchain

Ethereum Layer 1 and 2 monthly active users surpass 25 million milestone amidst crypto bloodbath

June 20, 2024
in Blockchain
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Ethereum Layer 1 and 2 monthly active users surpass 25 million milestone amidst crypto bloodbath
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  • Monthly active users on Ethereum chain’s Layer 1 and 2 projects have crossed 25 million per Token Terminal data.
  • Despite the rise of Ethereum’s competitors like Solana, with the meme coin narrative, Ether remains relevant among traders.
  • Total value locked in Layer 2 and 3 projects exceeds $43.99 billion at the time of writing.

Ethereum’s Layer 1 and Layer 2 chains have noted a consistent increase in activity in 2024. Monthly active users (MAU) have surpassed the 25 million milestone per data aggregator Token Terminal.

READ ALSO

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MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

Despite the rise in different narratives like meme coins and celeb tokens that made Solana chain – Ethereum’s competitor – popular among traders, Ether has seen a spike in active users.

Ethereum Layer 1 and 2 monthly active user count hits milestone

Crypto data aggregator Token Terminal shows that Ethereum Layer 1 and 2 monthly active user count exceeded 25 million. At a time when competitors like Solana have seen a spike in mindshare (attention from market participants) and the number of projects being launched every day, Ether holds its ground, per Token Terminal data, early on Tuesday, June 18.

Ethereum

Ethereum Layer 1 and 2 MAUs

Data from crypto tracker L2Beat shows that the total value locked (TVL) in Layer 2 and 3 projects in the ecosystem exceeds $43.99 billion, at the time of writing.

TVL

Total Value Locked in Layer 2 and 3 chains as seen on L2Beat

With a significant decline in Layer 2 fees, there is a rise in the chains’ adoption among traders. This is a contributor to the surge in monthly active users on Ethereum. Monthly fees are down from $18 to $3 between June 2023 and 2024, as seen in the chart below.

See also  Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

ETH

Monthly Layer 2 fees change from June 2023 to June 2024

Top Ethereum Layer 2 scaling tokens Polygon (MATIC), Mantle (MNT), Optimism (OP) extended their losses between 5% and 9% in the past 24 hours, per CoinGecko data.

The market capitalization of Layer 2 tokens is down over 11% in the past 24 hours, offering traders a “buy the dip” opportunity on Tuesday.

Tags: activeBloodbathCryptoEthereumlayerMilestonemillionMonthlySurpassUsers

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