Ethereum: As L2 users rise to 3M, will it impact the network?

• The Ethereum L2 customers crossed 3 million for the second time in historical past.
• L2 and Ethereum TVL additionally hit file highs.

The growth of Ethereum [ETH] Layer 2 (L2) has been evident in latest months, with the consumer base reaching a brand new peak. Alongside the rise in customers, the Complete Worth Locked (TVL) has additionally skilled progress.

Nevertheless, is there a discernible affect on Ethereum charges because of this surge in customers and TVL?

Ethereum L2 consumer base hits record-high

Evaluation of Growthepie knowledge confirmed a notable progress within the Ethereum Layer 2 (L2) consumer base in latest months, with a major milestone reached not too long ago.

Over the previous seven days, the variety of L2 customers surged to a historic excessive, exceeding 3.1 million. This milestone marked the primary time within the yr that the weekly consumer depend surpassed 3 million and set a brand new file of surpassing 3.1 million.

The earlier file, set in December, had the consumer depend crossing the three million mark. The expansion within the consumer base coincided with a rise in one other key L2 metric.

L2 TVL surges alongside consumer base

Evaluation of L2 TVL knowledge on L2 Beats confirmed a constant enhance over the previous few months, reaching a latest peak. The information confirmed that the TVL achieved its highest level in historical past, reaching the $29 billion mark on twenty sixth February and steadily rising since then.

On the time of this writing, the TVL was round $29.46 billion, reflecting a progress of over 4% within the final seven days. The evaluation additional highlights Arbitrum because the L2 community with the best TVL, exceeding $13 billion.

Moreover, Ethereum’s general TVL has proven substantial progress in latest weeks. In line with DefiLlama knowledge, the TVL has crossed the $50 billion mark for the primary time in over a yr.

On the time of this writing, the Ethereum TVL was $51.163 billion, with an ongoing uptrend.

Supply: DefiLlama

Life like or not, right here’s ETH’s market cap in BTC phrases

Ethereum price sees slight rise

Evaluation of Ethereum charges on Crypto Fees confirmed a slight enhance between nineteenth February and twenty eighth February. The chart confirmed that on nineteenth February, the community price was about $12 million.

Nevertheless, on the time of this writing, the price has risen to over $15 million. Whereas not reaching the best price noticed not too long ago, over $20 million on ninth February, the present price represented a rise.