NewsCryptoEthereum L2s Reach $37.4B TVL as Base, Arbitrum, and Optimism Lead Network Growth

Ethereum L2s Reach $37.4B TVL as Base, Arbitrum, and Optimism Lead Network Growth

Author: AMBCrypto·

Key Takeaways

  • Ethereum's weekly transaction count reached an all-time high of 1.8 million while median transaction fees fell to a record low of $0.008.
  • The Pectra Upgrade expanded L2 blob throughput and the Fusaka Upgrade increased data availability eightfold, building on proto-danksharding introduced through the Dencun upgrade in March 2024.
  • Layer 2 transaction volume surged since late June, with Robinhood Chain posting a 30,922% monthly increase and Base remaining the dominant L2 with approximately 248.3 million transactions.
  • Total Value Locked across L2 networks reached $37.41 billion, representing nearly half of the TVL on the Ethereum mainnet.
  • Monthly active users on Ethereum increased by 2.9% to approximately 8.3 million, indicating broader ecosystem growth alongside the scaling improvements.
Ethereum L2s Reach $37.4B TVL as Base, Arbitrum, and Optimism Lead Network Growth

Following the integration of Ethereum's [ETH] Layer 1 (L1) and Layer 2 (L2) networks into a unified roadmap, recent on-chain data confirms that the network's scaling upgrades are delivering measurable results. Ethereum adopted a rollup-centric roadmap several years ago, positioning L2 networks as the primary venue for user-facing execution while preserving L1 as a settlement and data availability layer.

The Pectra Upgrade expanded L2 blob throughput, while the Fusaka Upgrade increased data availability eightfold. These improvements build on proto-danksharding (EIP-4844), which introduced temporary data-storage blobs via the Dencun upgrade in March 2024, and are now reflected in network metrics.

Transaction Volume at All-Time Highs While Fees Hit Record Lows

The weekly transaction count on Ethereum has reached an all-time high of 1.8 million, with peak periods hitting as high as 21 million. This represents a 15% increase in monthly transaction count, signaling peak network utilization.

Concurrently, the median transaction fee has dropped to an all-time low (ATL) of $0.008. This divergence — rising activity paired with falling costs — suggests that Ethereum's scaling upgrades are functioning as intended. These fee levels also narrow the cost gap with competing high-throughput chains such as Solana, which has marketed itself on low-cost transactions.

Layer 2 Activity Surges

Further evidence comes from Layer 2 activity. According to Dune Analytics, total blob fees have reached 1.492 million ETH, reflecting growing adoption of proto-danksharding — an upgrade that reduces transaction costs through temporary data-storage blobs. This shift indicates that scaling demand has migrated to L2 networks while settlement continues on the Ethereum mainnet.

L2 transaction volume has surged notably since late June, with Robinhood Chain posting a 30,922% monthly increase — the largest among all L2s — and accounting for 13.9% of total L2 transactions. Robinhood Chain's entry signals growing interest from traditional finance platforms in deploying on Ethereum L2 infrastructure.

Base remains the dominant L2 by transaction count, processing approximately 248.3 million transactions, or 29.1% of the L2 total. Base, developed by Coinbase, has benefited from integration with the exchange's user base. Base's transaction count rose 13.4%, trailing Arbitrum One [ARB] and Optimism [OP], which posted gains of 22.2% and 19.2%, respectively.

TVL Growth Signals Deeper Ecosystem Expansion

Total Value Locked (TVL) across L2s continues to climb, reaching $37.41 billion — nearly half of the TVL on the Ethereum mainnet.

Base Chain leads with approximately $11.86 billion in TVL, up 1.04%. It is followed by Arbitrum One, ZKsync, and OP Mainnet, all of which posted gains except ZKsync.

Monthly active users on Ethereum have also increased by 2.9%, reaching approximately 8.3 million. Taken together, the data indicates that Ethereum is processing more transactions at lower costs while simultaneously attracting new users and securing additional capital across its ecosystem. The continued rollout of full danksharding in future upgrades remains the next major scaling milestone on Ethereum's roadmap, which aims to further increase L2 data availability capacity.