以太坊第 2 层网络升级后激增

自升级以来，以太坊第 2 层活动猛增，像 Base 这样的网络日交易量从 3 月份的约 40 万笔增长到 2024 年底的惊人 800 万笔。

Fresh data reveals that Ethereum layer-2 (L2) networks have witnessed a surge in activity, thanks largely to the growing adoption of stablecoins.

最新数据显示，以太坊第 2 层 (L2) 网络的活动激增，这主要归功于稳定币的日益普及。

According to Matthias Seidl, co-founder of Growthepie, stablecoins locked within Ethereum’s L2 systems have surged to $6.75 billion on Arbitrum One and $3.56 billion on Base. This growth aligns with the broader narrative of this cycle, where stablecoins have emerged as a pivotal use case.

Growthepie 联合创始人 Matthias Seidl 表示，锁定在以太坊 L2 系统中的稳定币在 Arbitrum One 上已飙升至 67.5 亿美元，在 Base 上已飙升至 35.6 亿美元。这种增长与本周期更广泛的叙述相一致，其中稳定币已成为一个关键用例。

As a result of the Dencun upgrade in March 2024, which slashed transaction fees, L2 solutions have become more accessible, leading to higher user engagement and activity within the Ethereum ecosystem.

2024 年 3 月进行的 Dencun 升级大幅削减了交易费用，L2 解决方案变得更加容易使用，从而提高了以太坊生态系统内的用户参与度和活动。

For instance, Base has grown from roughly 400,000 daily transactions in March to 8 million by the end of 2024, while Growthepie reports that Taiko boasts over 3 million daily transactions and Arbitrum remains a major player with over 2 million transactions.

例如，Base 的每日交易量已从 3 月份的约 40 万笔增长到 2024 年底的 800 万笔，而 Growthepie 报告称，Taiko 每天的交易量超过 300 万笔，而 Arbitrum 仍然是交易量超过 200 万笔的主要参与者。

However, not all L2 networks have shared this growth trajectory. Linea has seen its daily transaction count plummet to just 200,000, down from its peak of 800,000. Despite this, Base leads in active addresses, followed by Arbitrum and Linea.

然而，并非所有 L2 网络都遵循这种增长轨迹。 Linea 的日交易量从峰值的 80 万笔骤降至 20 万笔。尽管如此，Base 在活跃地址方面仍处于领先地位，其次是 Arbitrum 和 Linea。

Meanwhile, Tether (USDT) continues to dominate the stablecoin market, reaching $140.88 billion in market capitalization as of Dec. 19. This marks a significant increase from its $91.7 billion cap at the start of the year.

与此同时，Tether (USDT) 继续主导稳定币市场，截至 12 月 19 日，其市值达到 1,408.8 亿美元。这标志着较年初的 917 亿美元上限大幅增长。

Circle’s USDC also saw gains, peaking at $42 billion, though it still trails its June 2022 all-time high of $55.8 billion.

Circle 的 USDC 也出现了上涨，最高达到 420 亿美元，但仍低于 2022 年 6 月创下的历史新高 558 亿美元。

The Dencun upgrade also introduced “Blobs” as a cost-saving measure, designed to temporarily store transaction data to reduce fees. These fees are then burned, similar to Ethereum’s transaction fee mechanism, which reduces ETH supply.

Dencun升级还引入了“Blobs”作为节省成本的措施，旨在临时存储交易数据以降低费用。然后这些费用会被烧掉，类似于以太坊的交易费用机制，这会减少 ETH 的供应。

Since the merge, Blob fees have burned over 1,200 ETH, largely in the past few weeks. Base has emerged as the largest contributor to Blob submissions, while Taiko leads in total Blob fees, accumulating $3.5 million.

自合并以来，Blob 费用已消耗超过 1,200 ETH，大部分是在过去几周内发生的。 Base 已成为 Blob 提交的最大贡献者，而 Taiko 在 Blob 总费用方面处于领先地位，累计达到 350 万美元。

Although the average Blob count per block fell short of the target earlier this year, it hit the mark consistently in November, reflecting a renewed efficiency in Ethereum’s rollup-centric roadmap.

尽管每个区块的平均 Blob 数量未达到今年早些时候的目标，但在 11 月份一直达到目标，这反映出以太坊以汇总为中心的路线图的效率得到了提高。

However, the reduced transaction fees have sharply cut revenues for Ethereum. Despite this, Base and Taiko are mounting comebacks, with increasing rent paid to the Layer-1 chain.

然而，交易费用的降低大幅削减了以太坊的收入。尽管如此，Base 和 Taiko 正在卷土重来，向 Layer-1 链支付的租金不断增加。

As Ethereum activity shifts toward layer-2 rollups, the main chain has seen its ETH burn rate decline, even as Blob fees offer a deflationary counterbalance.

随着以太坊活动转向第 2 层汇总，尽管 Blob 费用提供了通货紧缩的平衡，但主链的 ETH 销毁率却下降了。

Layer-2 Activity Reshapes Ethereum’s Ecosystem

Layer-2 活动重塑以太坊生态系统

The growth of layer-2 activity is not just expanding Ethereum’s ecosystem — it’s also reshaping it. As Blob usage rises, Ethereum’s supply could once again turn deflationary.

Layer-2 活动的增长不仅扩大了以太坊的生态系统，而且还重塑了它。随着 Blob 使用量的增加，以太坊的供应可能会再次出现通缩。

Time Robinson’s Ethereum Blob simulator suggests that ETH supply could shrink by 6.5% at 100 transactions per second for 100 rollups, a medium-term goal endorsed by Ethereum founder Vitalik Buterin.

Time Robinson 的以太坊 Blob 模拟器表明，如果每秒 100 笔交易，进行 100 次汇总，ETH 供应量可能会减少 6.5%，这是以太坊创始人 Vitalik Buterin 认可的中期目标。

Amid all this, stablecoins remain the star of the show, transforming into a critical financial tool. Arbitrum maintains its leadership in stablecoin market cap, followed by Base and Optimism.

在这一切之中，稳定币仍然是这场秀的明星，正在转变为一种重要的金融工具。 Arbitrum 在稳定币市值中保持领先地位，其次是 Base 和 Optimism。

Even as concerns persist over declining main-chain revenues, the growth of layer-2 networks offers an optimistic outlook for Ethereum’s future.

尽管人们对主链收入下降的担忧依然存在，但第二层网络的增长为以太坊的未来提供了乐观的前景。