Ethereum Layer 2 Transactions Spike by 200% Adhering to Dencun Update

Exciting information strike the Ethereum group on March 13th with the very predicted Dencun fork, and it sparked a wave of interest in Layer 2 answers. The update led to a recognizable boost in activity throughout the network.
Latest examination by Intotheblock uncovered a surge in transactions on Ethereum’s layer 2 methods following the Dencun update. The information showed a impressive 196% surge in transactions processed on the top rated layer 2 platforms, totaling 5.67 million transactions.

  • Foundation emerged as a important participant, handling around 57% of the transactions. Coming in intently behind are Arbitrum and Optimism, processing 31% and 11% respectively.
  • This surge not only showcased the climbing demand from customers for Layer 2 scaling solutions but also signaled the arrival of the ‘Base Spring,’ as predicted by ITB’s earlier analysis.
  • In a recent milestone, Base’s transaction volume exceeded $1.6 billion for the to start with time, outperforming established gamers like Optimism in the procedure.
  • Additionally, Base’s network exercise has witnessed sizeable progress, pushed in part by the excitement bordering memecoins in recent months.
  • DefiLlama details discovered that the total price locked (TVL) on the Foundation network strike a record significant of $1.5 billion on April 9th, marking a outstanding 235% boost considering the fact that the beginning of the 12 months, fueled by the surge of meme coin activity.
  • Layer 2 networks have been growing significantly in the past months, with Dencun playing a vital part in their adoption.
  • Analysts at VanEck even projected that these scaling methods could possibly attain a current market capitalization of $1 trillion by 2030.

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