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’ transactions per second exceeded that of Ethereum for the first time in history, according to L2Beat. Ethereum price wiped out its losses from the past week, ETH climbed 6.2% from this past Monday’s intraday low of $1,531.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 Layer 2 chains: Coinbase’s BASE and zkSync Era.
Over the past weekend, the transactions per second metric of BASE and zkSync Era exceeded that of Ethereum. This metric measures the speed and throughput of crypto networks, helping traders identify which blockchain has the ability to handle a higher volume of transactions.intelligence tracker L2Beat, on September 16, last weekend, the TPS of two Layer 2s exceeded Ethereum. What’s more, the total value of assets locked on Base climbed 116% on a monthly basis, dominating other Layer 2 networks.
Base’s rising TVL can be attributed to friend.tech’s success. Between September 15 and 16, the blockchain-based social finance application on BASE raised more fees in a 24-hour period than the Ethereum and Bitcoin network. Ethereum’s TPS was recorded as 10.18 on September 17, whileInterestingly, during the same time period where the TVL of chains like Solana has declined, it has increased for BASE-based friend.tech.
Ethereum price wiped out losses from the past week and yielded a 0.75% gain for ETH holders on Monday. ETH price has climbed 1% over the past seven days. At the time of writing, ETH price is $1,635 on Binance.Ethereum is a decentralized open-source blockchain with smart contracts functionality. Serving as the basal network for the Ether cryptocurrency, it is the second largest crypto and largest altcoin by market capitalization.
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