L2 Chains Special Report: Active Addresses Grow Over 300% Year-on-Year, Arbitrum Accounts for More Than 55% of Ethereum's TPS
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L2 Chains Special Report: Active Addresses Grow Over 300% Year-on-Year, Arbitrum Accounts for More Than 55% of Ethereum's TPS
Base's user count reached 47.2 million in the third quarter of 2024, setting a new quarterly record high, while network revenue remained largely unaffected.
Navigating Web3 tides with focused insightsAuthor: OurNetwork
Translation: TechFlow
Layer 2s
Arbitrum | Base | World Chain | zkSync | Taiko
Layer 2 Active Addresses Up Over 300% Year-on-Year, Approaching 10 Million Weekly
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At growthepie, we provide in-depth analysis of Layer 2 activity and economics. We also deeply analyze user behavior, with over 80% of Layer 2 transactions categorized. Layer 2s have shown significant growth, reaching approximately 9.5 million unique weekly active addresses. In contrast, over the past six months, activity across multiple Layer 2s decreased by over 30%, dropping to about 600,000 active addresses. This indicates that Layer 2s are capable of independently growing their user base.
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With lower transaction costs on Layer 2s, daily revenue has dropped from a high of around $4.5 million to a low of about $75,000, but recent revenues have gradually rebounded to approximately $300,000. This may suggest inelastic demand, though other factors such as development time for applications also contribute to lagging effects.
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Analyzing on-chain activity, DeFi accounted for the largest share of gas fees over the past six months at 27.5%, followed by CeFi—which growthepie classifies under maximal extractable value (MEV)—at 16.6%. However, this month, CeFi's share of gas fees reached 22.4%, surpassing DeFi’s 21.4%. This suggests increased capital expenditure in capturing MEV.
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Transaction Focus: Layer 2s are now cheaper for both users and bots. Here is an example of a contract associated with significant transaction volume—hundreds of buy and sell transactions were submitted, artificially inflating trading volume. Such services demonstrate accelerating on-chain bot activity, a trend amplified by increased accessibility of bots to less technically experienced users. growthepie's label page helps track contract activity.
Arbitrum
Arbitrum Accounts for Over 55% of Ethereum TPS
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Since its launch, Arbitrum One has led as the top Layer 2 by total value locked, dominating on-chain stablecoin supply. Its recent stablecoin liquidity has exceeded $4 billion, available for DeFi, consumer apps, and chains built on Arbitrum One.
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To date, Arbitrum One leads in net on-chain liquidity inflows at $2.5 billion, enabling liquidity distribution to ecosystem teams building alongside Orbit chains. Orbit chains are blockchains that can be launched permissionlessly using Arbitrum infrastructure.
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Arbitrum Orbit chains lead in MegaGas per second, a metric reflecting computational workload—reaching 47.01 (64.24% of all "stacks," including Optimism Layer 2 tech stacks), while transactions per second (TPS) stand at 146.60 (53.10% of all stacks).
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Transaction Focus: A user minted 999 NFTs on ApeChain, a newly launched Arbitrum Orbit chain integrated with the Bored Ape ecosystem, for just $0.002904!
Base
Brandyn Hamilton | Website | Dashboard
Base Reached a Record High of 47.2 Million Users in Q3 2024, While Network Revenue Remained Largely Unaffected
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Despite launching only in August 2023, Base has gained substantial traction, reaching 47.2 million unique users in Q3 2024—an all-time quarterly high.
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Stablecoin usage on Base has surged, aligning with the platform’s significant user growth over the past year. On October 26, Base led all other blockchains in stablecoin transfer volume for the first time.
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Base’s daily network revenue—measured by gas fees collected—peaked at $2.39 million on March 26, setting a historical high. Despite rising usage, revenue later declined. This drop was due to Ethereum’s Dencun upgrade in March, which significantly reduced fees collected by Layer 2s.
World Chain
Over 14.3 Million Smart Accounts Deployed on World Chain Within 4 Months
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World Chain is a Layer 2 designed for individual users rather than traditional blockchain addresses. World App, the flagship application built on World Chain, uses Safes (non-custodial smart accounts featuring multisig and account abstraction) to securely store IDs ("World ID"), exchange digital assets, and access Mini Apps. To date, 14.3 million users have been verified via World ID, primarily transacting on World Chain through Safes. Wallet types on World Chain show over 95% are Safes, while 5% are externally owned accounts (EOAs)—traditional crypto addresses controlled by private keys rather than smart contracts.
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Safe usage on World Chain remains steady, averaging 525,000 Safe transactions per day, with total transactions nearing 10 million. The daily retention rate of Safes on World Chain ranges between 5%-10%, indicating solid health and ongoing improvement among new users joining the chain.
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To date, since its launch, World Chain has facilitated over $700 million in transfer volume. The native token Worldcoin (WRLD) is the most transferred asset, accounting for over half of total transfer volume on World Chain, followed by WETH—the more tradable form of ETH. Transaction data over the past 7 days shows WLD particularly dominant in volume.
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Transaction Focus: This Safe created two weeks ago has transferred over $422,000 worth of WLD tokens to another Safe.
ZKsync
Landon Gingerich | Website | Dashboard
QuarkID, a decentralized identity (DID) protocol based on ZKsync Era, launches for 3.6 million residents of Buenos Aires.
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ZKsync is an Ethereum scaling solution that has evolved from a single Layer 2 rollup into an interconnected rollup ecosystem called "Elastic Chain," aiming to solve liquidity fragmentation and improve user experience through native interoperability. Since its public launch on October 22, 2024, QuarkID’s decentralized identity (DID) solution has generated over 100,000 decentralized identifiers. Each DID leverages ZKsync Era as a secure foundation, establishing an on-chain provenance of data creation timestamps.
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Decentralized finance (DeFi) on ZKsync Era is rapidly expanding. Three lending protocols—Aave, Kelp, and Venus—are now among the top 10 by total value locked (TVL). Since September, their combined TVL—including borrowed amounts—has grown to around $50 million.
Matter Labs (internal)
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Cronos zkEVM, a general-purpose Validium—a type of zero-knowledge rollup—is designed to scale existing Cronos apps and chains, officially launching on public mainnet on August 15, 2024. Since then, its total value locked (TVL) has approached $50 million. Cronos zkEVM is the second ZK chain launched on Elastic Chain, ZKsync’s rollup technology framework.
Taiko
Will Leas | Website | Dashboard
Taiko Processes Over 60 Million Transactions in Past 30 Days, Ranking Second Among All Rollups, Demonstrating Rollup-Based Profitability.
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Taiko, the first rollup-based protocol where transaction sequencing is handled by Ethereum validators instead of centralized sequencers, is experiencing significant network activity growth. According to growthepie, Taiko processed over 60 million transactions in the past 30 days—second only to Base among all rollups. Meanwhile, Taiko has over 642,000 unique active addresses, an 181% increase from three months ago.
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Taiko is demonstrating rollup-based profitability. Over the past 7 days, it recorded the second-highest on-chain profit among all rollups, with a net gain of $150,000.
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Over the past 30 days, token transfers, social activity, and decentralized finance (DeFi) dominated Taiko’s blockspace usage at 46%, 26%, and 10% respectively. Excluding token transfers, RubyScore and iZumi Finance were the top two gas-consuming contracts.
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Transaction Focus: Taiko’s first mainnet block was proposed by Vitalik and included metadata containing the names of every Taiko core contributor.
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