Ethereum is a well-known name in Layer-2 transactions. It recently set a new record in terms of transactions and it reached a new daily transaction all-time high for the scaling ecosystem. On the 12th, an Ethereum layer-2 block space analytics platform through this network and ecosystem, 12.42 million record transactions as a combined daily transaction across the scaling ecosystem. This is a unique milestone in the volume of transactions using this ecosystem. And this transaction proves that scalability is improving rapidly and user activity is at its peak According to the platform, since the beginning of this year the L2 ecosystem daily transaction volume has been steadily increasing and currently the growth is around 140%. These transactions are counted through a method called Growthepie which only counts transactions executed by users or smart contracts and does not include system transactions.
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[source](https://pixabay.com/illustrations/blockchain-data-records-system-4700510/)
However, by July the transaction had grown fairly well, and by the end of July, nearly four million transactions had been completed. Growth has been driven primarily by the Coinbase L2 blockchain base. Even the base blockchain metrics platform BaseScan confirms that the daily transaction volume on the network has also increased many times in the last six months and that is to say that the transaction growth has increased almost seven times in the last six months. Explosive growth for the base has been driven by memecoin mania. These coins have contributed a lot in this regard. Because token minters jump into the low-cost and high-throughput chain to generate memecoins.
A report on all these cases was published by scaling industry metrics platform L2beat. They revealed in their report that the overall throughput has also increased recently. Even the number of transactions completed per second has increased significantly and has almost doubled. The reason behind this doubling of transactions is the increase in the number of scaling platforms. Moreover if we see well at present layer 2 is very popular and this ecosystem has some very popular coins. Most importantly, the network currently belonging to this ecosystem now has more stablecoins than Solana and the Binance chain. It is more stable coin than Solana and more stable coin than BNB smart chain.
Layer-1 daily transactions on Ethereum are relatively stable at present. Transactions in the Layer 2 ecosystem have increased manifold since the beginning of this year, but have been hovering around the 1.1 million level most of the time. However, the average gas fee on L1 Ethereum has dropped to an annual low at the moment. Most importantly we know that layer 2 ecosystem is becoming more popular than layer 1 ecosystem nowadays and many people are using this ecosystem to complete transactions due to its good features. Moreover, many people are trading using this ecosystem due to the fact that the Layer 2 ecosystem has several good stable coins.
