Ethereum's network revenues are set to rebound as activity on layer-2 (L2) networks surge

Ethereum’s revenues decreased 95% after Ethereum Dencun upgrade in March that migrated L2 transaction data to temporary offchain stores called “blobs” to cut costs for users because layer-2 netwprls did not fill blobs’ available capacity.

Now Base, Scroll, and World Chain are contributing to the growth of layer-2 networks’ activity.

Ethereum's network revenues are set to rebound as activity on Layer 2 (L2) scaling networks surge, driving demand for data storage. In November, Ethereum L2s have been posting 3x more transaction data each day to the mainnet compared to March.

This increase is attributed to the migration of L2 transaction data to temporary offchain stores called blobs, which helps reduce costs for users.