The network fees collected by layer-2 blockchains ballooned from 0 to $15 million in a span of just two years.
Optimistic roll-ups maintained an average daily transaction share of 67% in September.layer-2 landscape has expanded by leaps and bounds in 2023. The blockspace demand for scaling solutions has hit the roof with users onboarding to capitalize on its relative advantages.Erik Smith, Chief Investment Officer at 401 Financial, and a keen observer of the blockchain industry, took to social platform X to highlight the rapid strides taken by this emerging sector.
Citing data from on-chain analytics firm Token Terminal, Smith stated that network fees collected by L2 networks ballooned from 0 to $15 million in a span of just two years. It was astonishing to observe that exponential growth came during the bear market. Notably, this was the phase where on-chain activity across major L1s stagnated.Blockspace demand is up & to the right. 📈
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