Cryptocurrency

Ethereum mainnet hits record-breaking 32B weekly gas expenditure

Hull Invest

Data from Dune Analytics shows that the Ethereum (ETH) Layer 2 (L2) network spent a record-breaking $32 billion to validate transactions and activate bridges between January 9 and January 15. Consumed gas (up 22.8% year-on-year). .

Ethereum layer 2 data
Source: Dune Analytics

Optimism (OP) contributed About 50% of gas consumed — 2.8 billion gas on a 7-day moving average — followed by Arbitrum with about 30% share, according to Dune Analytics. data.

As of January 17, ETH mainnet L2 network gas spend was 66.35 billion, which is expected to exceed 100 billion for the third consecutive month since it first passed the 100 billion milestone in November 2022. .

L2 network processed more transactions than ETH mainnet

The top L2 networks, Arbitrum and OP, have seen a significant increase in activity, combining and processing more transactions than the ETH mainnet.

According to Dune Analytics, as of January 15, OP and Arbitrum had a combined trading volume of 1.2 million, with ETH around 1 million. data.

Read the latest market report

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button