Ethereum Layer 2 networks BASE, zkSync Era make history, ETH bites the dust


18 Sep 2023 6:03 AM

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.
  •, 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 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 The sentiment is generally optimistic.

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You May Ask

Which Layer 2 networks exceeded Ethereum in transactions per second?What was the percentage increase in BASE's total value of assets locked on a monthly basis?Which blockchain-based application on BASE raised more fees than Ethereum and Bitcoin networks?Why do analysts believe Layer 2 chains have an advantage over Layer 1 chains for users?What is the current price of Ethereum on Binance?

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