Latest reviews present vital development inside Ethereum’s Layer 2 (L2) ecosystem.
In response to Leon Waidmann, head of analysis on the Onchain Basis, over $10 billion is now locked in Ethereum L2 options. This determine greater than doubles Solana’s $4 billion, emphasizing Ethereum’s increasing dominance.
With Layer 2 adoption accelerating, the influence is predicted to be mirrored in Ethereum’s value because the L2 ecosystem performs an rising position in enhancing Ethereum’s utility.
Waidmann additionally shared that Ethereum’s Layer 2 consumer base has hit an all-time excessive. Over 10 million lively addresses have been recorded, marking a 35.23% enhance up to now week.
Notably, 550,989 addresses are lively throughout a number of chains, reflecting the rising interconnectivity between Layer 2 networks. Ethereum’s L2 dominance has additionally surged by 26.08%. This knowledge exhibits how Layer 2 options are accelerating Ethereum’s utility and driving wider adoption of Web3 applied sciences.
Elevated Ethereum Holder Resilience
Alongside the speedy adoption of Layer 2, the most recent knowledge from IntoTheBlock reveals that 61% of Ether holders are at present in revenue. This resilience is particularly evident when evaluating earlier market cycles.
As an illustration, over the last bear market, the share of worthwhile holders dropped to a low of 46% whereas it dipped to solely 3% after the 2017 cycle. Nonetheless, Ethereum’s present cycle exhibits a stronger capability for holders to take care of profitability, even by downturns.
Additional comparisons with historic knowledge point out that through the 2019/2020 interval, Ether’s profit-making addresses briefly fell under 10%. Whereas the same decline may revisit bear market lows, the present surroundings suggests any downturn would doubtless be much less extreme.
Whale Strikes 16,636 ETH After 8 Years
In a separate improvement, an Ethereum whale who had remained inactive for over eight years just lately moved his belongings. On September 15, at 7:25 PM UTC, the pockets holder made his first transaction since February 2016, transferring 16,636 ETH.
On-chain knowledge reveals that the whale divided the holdings throughout three addresses, in the end transferring them to the deal with “0x34…e0ba.” As of the most recent reviews, the whale had transformed most of his ETH into wrapped Ethereum, holding 16,199 wETH.
