Ethereum has become an ecosystem centered on layer 2 (L2) networks, according to an analysis published on August 13 by the Onchain Foundation. So much so that 75% of active addresses never interact with the main network (L1).
These networks allow transactions to be processed more quickly and economically, offloading most of the day-to-day activity from the base layer.
According to metrics from the Grow the Pie platform, cited by the Onchain Foundation, since the Dencun upgrade in March 2024, fees on major L2s have fallen below USD 0.01.
“Transaction fees on major L2s.” Source: Onchain Foundation/X.
The report adds that "L1 is the secure settlement layer; L2 is where daily life happens."
Dencun, was an Ethereum update that introduced the implementation of two structures known as “ proto-danksharding ” and "blobs,” which consolidated low fees for L2s.
Activity concentrated on L2
Activity in the Ethereum ecosystem reinforces the trend addressed by the Onchain Foundation. Between August 4th and 10th, nearly 13 million accounts interacted with the Ethereum ecosystem: 9.9 million did so on L2 and less than 3 million on L1.
L2s are stealing the spotlight from Ethereum's L1. Source: Grow the Pie.
As can also be seen in the graph above, the difference in the number of active accounts between L1 and L2 has been steadily growing since 2023. Then, on August 13, more than 23 million transactions were recorded across the ecosystem, with nearly 22 million occurring on layer 2 networks and only 1.6 million on the main network. In other words, more than 86% of all operations take place on L2. As with active accounts, the gap between L1 and L2 transactions, far from being an isolated phenomenon, has persisted and widened from April 2023 to the present, favoring L2s.
The vast majority of operations occur on L2s. Source: Grow the Pie.
The Onchain Foundation also highlighted that institutions and industry players are building on Ethereum, using second-layer networks as infrastructure: "Robinhood is tokenizing stocks on Arbitrum; Sony and Kraken have launched their own L2s; Shopify has integrated USDC payments on Base."
In this way, Ethereum consolidates itself as a network where the main layer acts as the security and settlement base, while the bulk of the interaction and trading volume moves to the L2.
