Ethereum L2 Networks Record 12.52 Million Transactions, Setting a New All-Time High

According to data from growthepie, this peak, recorded on Aug. 13, surpasses the previous record of 11.5 million transactions set on April 4.

Ethereum layer-2 (L2) networks have recorded an all-time high of 12.52 million transactions in a single day, a new peak in L2 activity.

According to data from growthepie, Aug. 13 saw a surge in L2 transactions, surpassing the previous record of 11.5 million on April 4. Following a dip in activity between late April and early June, the transaction count began to rise again in mid-June and has remained high despite market fluctuations.

Among Ethereum L2s, Coinbase’s Base led the way with an impressive 3.98 million transactions on the ATH day. This performance is particularly notable considering Base’s relative youth, having launched just over a year ago.

In second place was Arbitrum One with 1.79 million transactions on Aug. 13. Notably, Base and Arbitrum One were the only networks to record transactions above the 1 million mark yesterday. Following them were OP Mainnet with 487,820 transactions and Linea with 409,520 transactions, securing the third and fourth spots, respectively.

In addition to the surge in transaction counts, the stablecoin market cap on Ethereum L2s also saw a significant increase, reaching $9.69 billion.

However, despite the increase in transactions and stablecoin market cap, the fees paid by users saw a drastic decline. On Aug. 13, users paid only $171,514 in fees, a steep drop from the peak of $4.2 million on March 5.

The data shows a 96% decrease, suggesting that while activity on L2 networks is increasing, the cost to users is decreasing, especially during periods of market volatility.

Cumulative active addresses on these L2 networks also declined by 16.23% over the past week, reaching 5.29 million unique wallets.

Furthermore, the six leading Ethereum L2 networks — Base, Arbitrum One, Linea, OP Mainnet, Scroll, and zkSync Era — showcased varying performance metrics regarding active wallet addresses and cross-chain activity.

Leading the pack, Base recorded 3.25 million weekly active addresses, although only 9.1% of its activity involved cross-chain transactions. Despite being nearly three years old, Arbitrum One maintained its strong position with 1.11 million weekly active addresses.

Among the younger networks, Linea, a one-year-old ZK Rollup, saw solid growth with 493,570 weekly active addresses, of which 43.6% were multi-chain transactions. Optimistic Rollup OP Mainnet, on the other hand, had 315.32K weekly active addresses.

Although still in its early stages at nine months, Scroll attracted 272,290 weekly active addresses, with a high proportion (61.4%) of its transactions involving multiple chains, among the highest levels of the top six L2s. Another ZK Rollup, zkSync Era, recorded 261,260 weekly active addresses.