Base and Arbitrum leads L2 activities
A new data report from blockchain analytics platform Dune reveals that Base and Arbitrum have emerged as the dominant players in the Ethereum layer-2 (L2) ecosystem, leading in key metrics such as on-chain activity, transaction revenue, and network efficiency.
The report offers a detailed look into how L2 blockchains are evolving and solidifying their roles in scaling Ethereum.
Base and Arbitrum Dominate Activity and Revenue
According to the data, Base and Arbitrum command 55% and 35% of the L2 value transfer market, respectively, with Optimism trailing behind. In revenue generation—measured through transaction fees—Base leads decisively, capturing over 80% of L2 market share, followed by Arbitrum with 5–10%. Abstract and Optimism register smaller shares, roughly 5% and 3%.
The report emphasizes that high revenue and profit margins indicate robust and sustained usage. On a per-transaction basis, Linea leads in revenue efficiency, followed by Base, zkSync, and Polygon zkEVM. However, when accounting for profit after L1 fee deductions, Base again tops the list, with Arbitrum following.
Efficiency and Emerging Players
While Base and Arbitrum lead overall, other L2s outperform in specific areas. Scroll, zkSync, and Arbitrum ranked highest in value transferred per gas unit—a key indicator of economic efficiency. Blast and Optimism, meanwhile, scored well in value transferred per unique wallet, though the report cautions this metric can be distorted by Sybil attacks.
In decentralized exchange (DEX) volume, Ethereum maintains dominance with over 50% share. Among L2s, Base captures 25–30% and Arbitrum 15%. Ethereum also remains the leader in NFT trading volume, with zkSync (10–15%), Base (3.5%), and Blast (2.5%) making up the rest.
The Road Ahead for Ethereum L2s
The report supports growing sentiment that layer-2 networks are vital to Ethereum’s future. Ethereum co-founder Joseph Lubin recently underscored this at the Digital Asset Summit, arguing that Ethereum’s security and infrastructure make it an ideal foundation for scaling via L2s.
Still, not all stakeholders agree. Some investors argue that L2s extract more value from Ethereum than they return, potentially undermining the base layer. Yet the usage data suggests L2s are not only gaining ground—they’re becoming essential.
As Base and Arbitrum continue to lead and new players rise through innovation, the Ethereum ecosystem appears poised to evolve through deeper L1-L2 collaboration.
Recently we wrote, that Arbitrum is set to execute a strategic buyback of ARB tokens as the asset remains down over 85% from its all-time high.
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