- L2 scaling recently reached an all-time high.
- Ethereum’s total fees were over $13.4 million.
The Ethereum (ETH) Layer 2 (L2) ecosystem is expanding with the recent surge in transactions per second (TPS).
In particular, within the L2 space, Base emerged with particularly impressive performance metrics.
Ethereum L2 registers more scale
According to information from L2 Beat, Ethereum scaling increased noticeably in early April, reaching a new peak on April 2nd.
AMBCrypto looked at Layer 2 data and found that the number of transactions had skyrocketed, reaching an all-time high of 156 transactions.
Source: L2 Beats
The scaling metric increased to around 11.2, indicating that it processed more transactions than the Ethereum mainchain.
As of press time, transactions per second (TPS) has slightly decreased to 147 levels, but the increase trend is still maintained. The current scaling figure is around 11.3.
Base dominates the Ethereum L2 space.
Based on data from Into the BlockBase has established itself as a prominent Ethereum Layer 2 (L2) solution, which is evident in recent statistics.
It boasts approximately 890,000 active addresses, which represents the highest number of active addresses of any L2 platform.
Additionally, trading volume exceeded $1.6 billion, which is three times more than its closest competitor, Optimism (OP). On April 2, the network processed 2.6 million transactions.
However, when considering Total Value Locked (TVL) and Transactions Per Second (TPS), data from L2 Beat shows that Base lags behind other L2 networks.
Ethereum fees remain low
Despite the increased activity witnessed in layer 2 (L2) solutions, Ethereum’s fees have remained relatively low. At the time of writing, total fees were over $13.4 million.
AMBCrypto’s analysis of fee trends shows an overall decline over the past few weeks.
This decline began around March 13th, coinciding with significant network upgrades that contributed to lower gas prices on the L2 network.
At the time of writing, ETH is trading at around $3,301, down less than 1%.
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Analysis of daily time frame charts shows that the king of altcoins was one of the few assets to close the previous trading session with a profit.
The altcoin ended trading on April 3 with a price increase of more than 1%.
Source: Trading View