The level of participation in the Ethereum (ETH) network has recently reached an all-time high (ATH) as the number of active addresses hit 15.4 million in the past week. In fact, this figure surged by 62.68% on the chart. The acceptance of ETH on both the mainnet and layer 2 chains has also spiked.
The total usage of layer 2 solutions has reached the highest dominance ever (6.65 times) as the network recorded a significant increase in trading volume. However, the number of active addresses across multiple chains has slightly decreased, now around 832,000.
In summary, these updates indicate that Ethereum continues to maintain high popularity across various sectors that investment organizations are focusing on, such as real-world assets (RWA), NFTs, DeFi protocols, and staking platforms.
Source: Growthepie
Multi-chain participation analysis shows a positive trend, but also notes a slight decrease as many platforms are converging into effective interacting networks.
The growing interest from developers, combined with support from organizations and the anticipated ETH upgrades, could drive additional capital flow as users increase their interactions. This, in turn, could expand the user base and strengthen Ethereum's infrastructure, while also promoting broader acceptance cycles.
Performance of Base and other layer 2s on Ethereum
The recent recovery of the Base ecosystem has reignited optimistic sentiment in Ethereum's layer 2 space. Token trading activity on Base recorded nearly $4 billion in volume over the past week – a strong increase of 80% compared to the previous week.
This spike is reflected in the trading volume of Base's tokens like BRETT, WELL, MORPHO, and AERO – the leading names supporting a positive reversal.
Source: IntoTheBlock
Price performance analysis shows that BRETT leads with a 70% increase over the week, while MORPHO rose by 25%.
WELL recorded an increase of 51.46%, while AERO only saw a slight increase of 11.91%. Other tokens like PRIME, ALB, DEGEN, and SONNE have either not recovered or are experiencing significant losses.
This upward trend could help Base become the most active layer 2 on Ethereum in terms of trading volume, signaling positive prospects for the entire layer 2 ecosystem of Ethereum.
However, maintaining a positive trend remains uncertain, as it largely depends on stable demand for tokens, liquidity levels, and overall market confidence.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct thorough research before making decisions. We are not responsible for your investment decisions.