Ethereum Transactions Near Peak Amid Layer-2 Competition
Ethereum daily transactions don climb near all-time high, dey average about 1.7 million per day, show say demand for network still dey. But Layer-2 networks like Arbitrum (3.4M tx) and Base (8.6M tx), plus other L1 blockchains like Aptos (3.8M), Solana, and Sui, dey dey take away Ethereum market share and protocol revenue. The Dencun upgrade wey happen for March 2024 reduce base-layer fees and make Layer-2 solutions cheaper, causing sharp drop for on-chain fees and active addresses kon remain steady for 400k–600k range. Stakeholders dey rethink scaling strategies to keep Ethereum smart contract dominance and secure long-term growth as competition dey increase.
Neutral
The sharp rise for Ethereum transactions show say network dey strong, wey fit support price for short time, especially if on-chain activities dey push demand for ETH. But, constant move to Layer-2 platforms and drop for network fees dey reduce protocol revenue and fit affect staking rewards and developer incentives. For long term, Ethereum price depend on how e fit implement scaling solutions and hold market share against other blockchains and Layer-2 competitors. This kain mixed outlook mean say market go no get much movement until scalability and revenue models stable.