L2 Wars: Base Sees Explosive Growth, Arbitrum Has Most Active Users
Coin Edition
Published Aug 29, 2023 13:31
Updated Aug 29, 2023 13:45
L2 Wars: Base Sees Explosive Growth, Arbitrum Has Most Active Users
- CoinGecko publishes a new blog featuring the fastest-growing L2 blockchains.
- Coinbase’s network Base gains 1 million unique addresses in just 11 days, post-launch.
- Arbitrum, Optimism, and zkSync are also growing at high speed, recording high volumes of traffic.
CoinGecko recently released a report on the fastest-growing Layer 2 blockchains, ranked by the highest number of addresses recorded in the shortest span of time. According to the blog, after Base’s official launch on August 9, the platform attracted 1 million unique addresses in just 11 days.
Notably, 532k addresses had joined Coinbase’s L2 network through unofficial bridges. Crypto analytics platform Artemis Terminal noted that daily transactions on Base reached 1.37 million a few days ago, surpassing Ethereum with nearly 1 million transactions.
Meanwhile, Arbitrum beat Base and Optimism in terms of the daily number of active users. Second on CoinGecko’s list, Arbitrum took 303 days to gain 1 million unique wallet addresses after the mainnet launch on August 31, 2021. Moreover, Arbitrum recorded the highest number of addresses at 11.4 million users, while Optimism came a close second featuring 8 million unique addresses.
As per CoinGecko, Optimism reached 1 million unique wallet addresses 191 days after its mainnet launch on January 16, 2022. However, from a price perspective, analytics firm IntoTheBlock reported a decline to 29.27% in the proportion of Optimism addresses that were experiencing gains, as of Q2 of 2023. The report highlighted that out of the total Optimism wallets, 418,300 of them underwent negative outcomes, whereas 178,820 Optimism wallets managed to achieve positive results.
Layer 2 Adotion by CoinGecko
Lastly, CoinGecko noted that zkSync hit 1 million unique wallet addresses in just 71 days. While the platform has yet to launch a token, traders are looking out for a potential airdrop and using the network to maximize their chances of receiving the airdrop.
I won't waste your time telling you why zkSync is important.We all know it.If you're not preparing for this airdrop, you're sabotaging your future.No jokesGet The App
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Written By: Coin Edition
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