{"id":89314,"date":"2024-08-09T18:00:21","date_gmt":"2024-08-09T22:00:21","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=89314"},"modified":"2024-08-09T18:02:41","modified_gmt":"2024-08-09T22:02:41","slug":"uniswap-ethereum-l2-addresses-reach-new-high-of-8-5m","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/uniswap-ethereum-l2-addresses-reach-new-high-of-8-5m\/","title":{"rendered":"Uniswap\u00a0Ethereum L2 Addresses Reach New High of 8.5M"},"content":{"rendered":"\n

Uniswap's decentralized exchange<\/a> saw roughly twice the amount of Ethereum layer-2 wallet addresses compared to June.<\/p>\n\n\n\n

\"Uniswap\u00a0Ethereum
Uniswap\u00a0Ethereum L2 Addresses Reach New High of 8.5M<\/figcaption><\/figure>\n\n\n\n

Dune analytics data indicated that 8.5 million Ethereum addresses were transacting on Uniswap via L2s such as Arbitrum, Base, Optimism, Polygon, and ZKSync, representing a new all-time high. <\/p>\n\n\n\n

In June, Uniswap generated nearly $100 million in fees, making it the largest DEX on any blockchain. The second-largest decentralized network in the crypto industry is facilitated by ETH layer-2s\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, which are located either on top of or adjacent to Ethereum's mainnet. <\/p>\n\n\n\n

Despite the fact that Vitalik Buterin's co-created blockchain is renowned for its secure permissionless transactions, on-chain bottlenecks frequently occur, thereby elevating the cost of asset transfers. <\/p>\n\n\n\n

L2s were developed to alleviate the congestion of ETH's primary chain and provide a more cost-effective method of transacting on the largest decentralized finance ecosystem<\/a>.<\/p>\n\n\n\n

Ethereum L2 Addresses Rise, but TVL is Down<\/h2>\n\n\n\n

Compared to Ethereum, protocols such as Base and Polygon already had lower transaction costs, referred to as “gas fees.” <\/p>\n\n\n\n

Nevertheless, this offer was enhanced by the March Dencun enhancement. On layer-2 networks, the cost of sending Ether is less than $1, and the cost of exchanging digital assets<\/a> is under $3, according to L2Fees. <\/p>\n\n\n\n

This affordability is likely a significant factor in the increase of L2 addresses since February, which occurred shortly before developers released Dencun. <\/p>\n\n\n\n

Total user deposits, also known as total value locked<\/a> (TVL), have decreased across DeFi chains, including Ethereum and its L2s, as this pattern has occurred. <\/p>\n\n\n\n

In the past 30 days, there have been declines of up to 25%, as indicated by DefiLlama data. Declining TVLs echoed a broad downswing in altcoin sectors and market corrections.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Uniswap’s decentralized exchange saw roughly twice the amount of Ethereum layer-2 wallet addresses compared to June. Dune analytics data indicated that 8.5 million Ethereum addresses were transacting on Uniswap via L2s such as Arbitrum, Base, Optimism, Polygon, and ZKSync, representing a new all-time high. In June, Uniswap generated nearly $100 million in fees, making it […]<\/p>\n","protected":false},"author":43,"featured_media":89315,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[11073,973,21224],"class_list":["post-89314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-tvl-2","tag-uniswap","tag-uniswap-ethereum-l2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/08\/croc_1723237704632.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/89314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=89314"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/89314\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/89315"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=89314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=89314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=89314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}