Ethereum Layer 2s Surpass Mainnet in Daily Transactions
Ethereum's Layer 2 networks have become the hub of crypto activity, processing nearly 30 million transactions daily and accounting for 94% of all Ethereum ecosystem transactions. This surge in Layer 2 activity has contributed to a market rotation favoring Ethereum, Layer 2 tokens, and DeFi assets.
Major networks like Base and Arbitrum have secured significant capital, with most DeFi capital remaining on the Ethereum mainnet. This dynamic underpins recent gains across Ethereum-related tokens beyond just ETH price movements.
Ethereum co-founder Vitalik Buterin revealed plans for a new generation of transaction formats that separate transaction execution from verification, aiming to boost scaling. The upgrade will introduce 'frame transactions' that split one transaction into up to 64 programmable frames, enabling native account abstraction, gas sponsorship, and atomic batching.