Soaring growth of Ethereum layer-2 networks set to continue in 2023
Leading layer-2 networks on Ethereum have seen a surge in daily active users and fees recently. Ethereum layer-2 networks have gone through an explosive growth phase over the past couple of months, a trend that is set to continue in 2023. According to recent data, the leading layer-2 networks have seen an increase in daily active users thathas translated into a growth in fees for the respective ecosystems.
According to analytics provider Token Terminal, Polygon leads the pack with 313,457 daily active users as of Jan. 17, a metric that spiked to over 600,000 daily active users earlier in January. That’s a 30% increase in activity since the beginning of October, resulting in nearly $55,000 worth of daily fees for Polygon.
Optimism has seen even faster growth, with a 190% gain in daily active users over the past three months. This resulted in daily network fees of $119,475, a gain of almost 140% since the beginning of the year. Arbitrum One currently has 41,694 daily active users, an increase of around 40% over the past three months. Daily fees on the network are just over $40,000, according to the data.
Meanwhile, L2 ecosystem analytics platform L2beat states that Arbitrum has a market share of 52% in terms of total value locked (TVL), which is currently at $2.55 billion. Aribtrum has seen a 9% increase in TVL over the past week.
Optimism, the second-largest L2 network, has a TVL of $1.46 billion, giving it a market share of 30%. Its collateral locked has surged by 15% over the past seven days. The two together account for more than 80% of all the collateral locked in layer-2 platforms. There has been an increase of almost 10% in TVL for all L2s over the past week, pushing the total TVL up to $4.89 billion. However, that figure is still down 34% since its peak in April. Nevertheless, this decline is less than half of the retreat DeFi TVL has made since its all-time high. DeFi collateral has declined by 75% since December 2021, according to DeFiLlama, suggesting that there is greater demand and momentum for layer-2 networks at the moment.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 78% | 33 | $62 706.80 | -1.21% | -1.68% | $1 239 378 185 376 |  |
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|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 79.6% | 43 | $2 439.89 | -1.94% | -7.71% | $293 713 346 867 |  |
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| 3 |  USDT |
Tether predictions | 95.6% | 1 | $0.999766 | -0.01% | 0.03% | $119 829 220 483 |  |
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| 4 |  BNB |
Binance Coin predictions | 78.8% | 35 | $569.43 | -0.69% | -1.87% | $83 097 793 270 |  |
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| 5 |  SOL |
Solana predictions | 75.2% | 45 | $144.16 | -3.76% | -7.43% | $67 648 593 118 |  |
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| 6 |  USDC |
USD Coin predictions | 92.8% | 1 | $0.999956 | -0.01% | 0% | $35 323 955 374 |  |
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| 7 |  XRP |
XRP predictions | 77.6% | 43 | $0.533715 | -1.52% | -13.93% | $30 189 072 303 |  |
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| 8 |  DOGE |
Dogecoin predictions | 78.4% | 32 | $0.109363 | -3.76% | -7.59% | $15 997 205 997 |  |
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| 9 |  TRX |
TRON predictions | 96% | 1 | $0.156212 | 1.47% | -0.16% | $13 524 348 756 |  |
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| 10 |  TON |
Toncoin predictions | 80.4% | 30 | $5.24 | -1.66% | -9.83% | $13 296 717 987 |  |
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| 11 |  ADA |
Cardano predictions | 80.4% | 38 | $0.354840 | -2.61% | -7.20% | $12 405 595 268 |  |
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| 12 |  AVAX |
Avalanche predictions | 67.6% | 60 | $26.90 | -1.26% | -5.57% | $10 935 151 377 |  |
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| 13 |  SHIB |
SHIBA INU predictions | 56.8% | 94 | $0.000018 | -4.99% | -4.57% | $10 317 981 112 |  |
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| 14 |  STETH |
Lido stETH predictions | 93.6% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
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| 15 |  WTRX |
Wrapped TRON predictions | 92.4% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |  |
