- Blast posted explosive month-on-month growth in terms of new addresses
- OP’s daily active addresses rose in May, while others saw their numbers drop
Layer 2 has caused quite a stir in recent months due to its high network activity. As the first month of the second quarter came to an end, Coin98 Analytics shared a monthly report https://twitter.com/Coin98Analytics/status/1785906718754660404 highlighting the states of several major L2s, including Optimism [OP], arbitration [ARB]zkSync Era and Base.
Status of L2 in April
The Coin98 Analytics report revealed that OP dominated others in terms of total addresses as its value was 138 million. They were followed by Base and ARB, with values of 71.9 million and 22.3 million, respectively.
Additionally, OP also hit an all-time high on certain days this month, with more than 450,000 new addresses per day. In April, Optimism recorded the highest number of new addresses created. Although OP’s numbers were the highest, Base and ARB also saw significant growth in April.
While the performance of the aforementioned L2s was commendable, Blast took center stage due to its explosive growth. Coin98 found that the number of Blast addresses grew by a whopping 42% in April, while the growth rates of OP, Base, and ARB were 2%, 4%, and 12%, respectively.
The report also analyzed L2 transactions in April. opBNB ranked first with over 872 million transactions. ARB, zkSync, and OP followed as their total transactions amounted to 472 million, 346 million, and 257 million, respectively.
Interestingly, Blast also recorded the highest growth rate in terms of transactions, increasing 112% month-on-month.
Additionally, the top 4 Layer 2 protocols with the largest TVLs have seen significant changes in money flows, with ARB leading the way. The base registered a month-on-month increase of 24% with figures of more than 284 million dollars. By contrast, Arbitrum recorded a decline of more than $371 million in TVL.
What does May look like?
Since the month of April was quite active for L2s, AMBCrypto then checked the latest data to find out how these aforementioned L2s have fared so far in May. However, our analysis of Artemis data revealed that the daily active addresses of ARB, Base and zkSync have started to fall.
Optimism acted differently as its active addresses increased. While Base and zkSync’s daily transactions decreased, Base and OP’s numbers increased slightly.
Realistic or not, here it is ARB market capitalization in terms of BTC
In terms of value captured, Base had the highest revenue in early May, followed by OP. The downward trend was also true in this regard, as Base and zkSync graphs began to decline.
On the other hand, ARB and OP revenues gained upward momentum in May.
In light of these metrics, it seems likely that OP and ARB will see promising growth in May, while Base and zkSync face some issues.
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This is an automatic translation of our English version.
