Ethereum Layer 2 networks BASE, zkSync Era make history, ETH bites the dust
Ethereum recently hit a key milestone marking the one year anniversary of the Merge. In the past year, there has been an increase in activity on two L...
- Several Layer 2 networks, including BASE and zkSync Era, surpassed Ethereum in transactions per second (TPS) for the first time.
- Ethereum's price recovered from its losses and increased by 6.2% from the intraday low of $1,531.
- The one-year anniversary of the Merge marked increased activity on Coinbase's BASE and zkSync Era.
- BASE's total value of assets locked (TVL) increased by 116% on a monthly basis, outperforming other Layer 2 networks.
- friend.tech, a blockchain-based social finance application on BASE, raised more fees in a 24-hour period than Ethereum and Bitcoin networks.
- The TVL of BASE-based friend.tech increased while other chains like Solana declined.
- Layer 2 chains are believed to have an advantage over Layer 1 chains for users due to increasing interoperability.
- Ethereum's price gained 0.75% on Monday, reaching $1,635 on Binance.
The article provides positive news about Layer 2 networks surpassing Ethereum in TPS, Ethereum's price recovery, and the success of BASE and friend.tech. The sentiment is generally optimistic.