Optimism and Arbitrum flip Ethereum in combined transaction volume

Ethereum Layer-2 (L2) on-chain exercise has been growing to the extent that the main two networks now course of extra transaction volume than the Ethereum community.

Layer-2 networks Arbitrum and Optimism have seen a rise in transactions over the previous three months. Comparatively, except for just a few spikes, transactions on the Ethereum community have declined by round 33% since late October in accordance with Etherscan.

This has enabled the 2 L2s combined to flip Ethereum for this metric, in accordance with Dune Analytics knowledge.

The chart reveals Ethereum processed over 1.06 million transactions on Jan. 10 whereas Arbitrum and Optimism combined processed over 1.12 million transactions.

Additionally, Optimism has now surpassed Arbitrum in phrases of every day transactions following a gradual uptrend in exercise since September.

Layer-2 ecosystem analytics web site L2beat reported all L2 exercise in phrases of transactions per second (TPS) surpassed that of Ethereum in October, and has remained above it since.

L2 exercise in TPS – l2beat.com

On Jan. 10, Ethereum processed a median of round 12 TPS in comparison with the L2’s common of almost 16.5 TPS.

Arbitrum and Optimism combined signify nearly 80% of the complete layer-2 ecosystem in accordance with L2beat.

Arbitrum One stays the market chief in phrases of complete worth locked (TVL) with its round $2.34 billion in collateral giving it a 52.5% market share.

Optimism, in second place, has a TVL of $1.28 billion with a 28.6% market share.

Optimism and Arbitrum flip Ethereum in combined transaction volume
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According to Nansen researcher Martin Lee, decentralized finance (DeFi) protocols are one of many key drivers of the adoption of the Optimism chain.

Related: Can the Optimism blockchain win the battle of the rollups?

Other layer twos reminiscent of zk-rollup StarkNet have additionally been processing extra transactions not too long ago. StarkWare expertise additionally powers different options together with ImmutableX and dYdX.

In October, it was reported StarkNet was processing extra transactions per week than the Bitcoin (BTC) community.

Additionally, Starkscan studies the community is at an all-time excessive in phrases of TVL at $5.2 million.