Usage of second-layer networks on top of Ethereum (ETH) rocketed in last two days, data says
On June 2, 2022, second-player Ethereum (ETH) platforms demonstrated a rapid increase in gas fees and transactional pressure. Veteran cryptocurrency expert Paolo Rebuffo noticed this upsurge through specially designed dashboards on the Dune analytics platform.
Ethereum L2s consumed 4% of gas limit
As noticed by the automated service, yesterday was the most successful day for Ethereum L2s in terms of gas amount spent. Major second-layer platforms were responsible for almost 4% of net gas limit for Ethereum’s blockchain.
In total, L2s consumed 3.95 billion gas, which is equivalent to 3.95% of the daily gas limit for Etheruem (ETH). This is the highest level in the history of Ethereum scaling networks. The analysis includes data from Arbitrum, Aztec, DeversiFi, Boba Network, dYdX, ImmutableX, Loopring, Optimism, Metis, Polygon Hermez, Starknet, ZkSwap, ZkSync and other second layer solutions.
This upsurge can be attributed to the euphoria around the much-anticipated token airdrop of Optimism Network (OP). As covered by U.Today previously, this event pushed Optimism fees over those of SushiSwap, MakerDAO and ENS giants.
On top of that, some crypto enthusiasts may also be interested in moving their wealth to L2s for potential future optimism-style airdrops.
TVL of L2s has broken multi-week downtrend
Despite a major downturn of the crypto market, Ethereum’s L2s registered the busiest month in their history in terms of gas usage. The monthly amount of gas spent added more than 50% compared to April’s levels.
This has allowed the TVL metric of major L2s to begin to recover from a multi-week decline. As U.Today reported earlier, in late May 2022, this metric fell to October 2021 levels.
However, last week, TVL spiked from $4.47 billion to $5.17 billion, adding almost 16% in a matter of days.
