Key Points
- Ethereum’s Layer 2 (L2) ecosystem has seen a surge in transactions per second (TPS).
- Base, within the L2 space, has shown impressive performance metrics.
Ethereum’s Layer 2 (L2) ecosystem has recently seen a significant increase in the number of transactions per second (TPS).
Within this space, a platform known as Base has demonstrated particularly notable performance.
Impressive Performance Metrics
According to data from L2 Beat, Ethereum scaling saw a significant increase in early April, reaching a new high on the 2nd of the month.
A review of the Layer 2 data showed an increase in the transaction count, surpassing 156 transactions and hitting a record high.
The scaling metric rose to approximately 11.2, indicating it handled more transactions than the Ethereum mainchain.
At the time of writing, the transactions per second (TPS) had somewhat decreased to around 147, but the scaling trend has continued to rise. Currently, the scaling figure is around 11.3.
Base: A Prominent Ethereum Layer 2 Solution
Data from IntoTheBlock shows that Base has established itself as a significant Ethereum Layer 2 (L2) solution, as seen in recent statistics.
It has approximately 890,000 active addresses, the highest number among L2 platforms.
Furthermore, its transaction volume exceeded $1.6 billion, three times more than its closest competitor, Optimism [OP]. On the 2nd of April, the network processed 2.6 million transactions.
However, data from L2 Beat revealed that in terms of Total Value Locked (TVL) and Transactions Per Second (TPS), Base lagged behind other L2 networks.
Despite the increased activity on its Layer 2 (L2) solution, Ethereum’s fees have remained relatively low. At the time of writing, the total fee was over $13.4 million.
An analysis of the fee trend showed a general decrease over the past few weeks.
This decrease began around the 13th of March, coinciding with a major network upgrade and leading to lower gas prices on L2 networks.
At the time of writing, Ethereum (ETH) was trading at around $3,301, experiencing a less than 1% decrease.
The daily timeframe chart analysis showed that the king of altcoins was among the few assets that closed the previous trading session with a profit.
The altcoin ended trading on the 3rd of April with a price increase of over 1%.
