Ethereum Layer-2 networks thrive while ETH's average fee sits below $2
A pl ETH ora of projects is building on Ethereum [ ETH ]. The network is home to several layer-2 projects. It seems like the attention of the industry was veering toward these projects as opposed to ETH . Over the weekend, Optimism ’s daily transaction count hit an all-time high of nearly 700,000. This is reportedly a 700 percent surge since September 2022. Arbitrum also mirrored this notion. Both these projects together flipped Ethereum in terms of transaction volume. According to the graph, Ethereum handled more than 1.06 million transactions on January 10 while Arbitrum and Optimism together processed over 1.12 million. Source As seen in the chart, Optimism, as well as Arbitrum, have witnessed a persistent increase since September 2022. It should be noted that both these networks account for 80 percent of the entire layer-2 ecosystem. Therefore, the above data signifies the emergence of layer-2 networks over Ethereum. Ethereum’s average fee stays grounded for...