- Blast has seen explosive monthly growth in terms of new addresses.
- OP’s daily active addresses increased in May, while others saw their numbers decline.
Layer 2 has generated quite a bit of buzz over the past few months due to its high network activity. As the first month of the second quarter comes to a close, Coin98 Analytics reports that the monthly report We highlight the status of several higher-order L2s, including: Optimism (OP), Arbitrage (ARB)zkSync Era and Base.
L2 status in April
According to a report by Coin98 Analytics, OP is valued at $138 million, surpassing other companies in terms of total addresses. Base and ARB followed with $71.9 million and $22.3 million, respectively.
OP also hit an all-time high with over 450,000 new addresses per day on certain days this month. In April, Optimism recorded the highest number of new addresses created. Although OP had the highest numbers, Base and ARB also saw significant growth in April.
Source: X
Although the achievements of the aforementioned L2s are commendable, Blast received attention for its explosive growth. Coin98 found that Blast’s address count grew by a whopping 42% in April, while OP, Base, and ARB’s growth rates were 2%, 4%, and 12%, respectively.
The report also looked further into L2’s transactions in April. opBNB ranked first with over 872 million transactions. ARB, zkSync, and OP followed with 472 million, 346 million, and 257 million, respectively.
Interestingly, Blast also had the highest monthly growth rate in terms of transactions, at 112%.
Additionally, the top four Layer 2 protocols with the largest TVLs showed significant changes in fund flows, with ARB leading the way. The base stood at over $284 million, a 24% increase over the previous month. Conversely, Arbitrum recorded a decline of more than $371 million in TVL.
Source: X
What does May look like?
Since April was a busy month for L2s, AMBCrypto checked out the latest data to see how the aforementioned L2s have performed so far in May. However, our analysis of Artemis data ARB, Base, and zkSync reported that their daily active addresses are starting to decline.
Optimism behaved differently as active addresses increased. Base and zkSync’s daily trading volumes have decreased, while Base and OP’s numbers have risen slightly.
Source: Artemis
Realistic or not, the following is ARB market cap based on BTC
As far as earned value is concerned, Base had the highest revenue at the start of May, followed by operating profit. As the graphs of Base and zkSync started to decline, so did the downward trend.
On the other hand, in May, sales of ARB and operating profit showed an increase.
In light of these indicators, OP and ARB may see promising growth in May, while Base and zkSync are likely to face some difficulties.