Ethereum's Layer 2 Solutions Experience Increased Adoption Following Dencun Upgrade
On the 13th of March 2024, Ethereum had the Dencun upgrade. This upgrade has raised interest in Layer 2 solutions - and this can be seen in the increase in activities after the Dencun upgrade. After this upgrade, there's been a massive surge in the number of transactions on the Layer 2 solutions.
There's been a 196% increase in the number of transactions done on Layer 2 solutions, and it sums up to about 5.67 million transactions. Base was the leading contributor, settling most the of transactions; about 57% of the transactions. Arbitrum was the second, settling about 31% of the transactions.
And Optimism was third, settling about 11% of the transactions. This increase in transactions show that there's been more demand for Layer 2 solutions. The volume of transactions in Base, in the past week surpassed $1.6 billion; and this volume exceeded that of Optimism, which is more established.
In the last couple of months, there's been remarkable growth in Layer 2 networks. And Dencun upgrade has brought about more interest and demand for Layer 2 networks. Crypto analyst VanEck, has predicted that these Layer 2 scaling solutions in 2030, may see a market cap of $1 trillion.
I have always believed so much in the future of Ethereum and I am sure they will also go far in the crypto space or in the world of blockchain
There is so much of future in Ethereum and I am not really doubting about it