Home web3.0 Layer2 Monthly Report – August 2024

Layer2 Monthly Report – August 2024

Sep 10, 2024 pm 06:03 PM
Highlights Trends August 2024 Layer 2

August 2024 has been a dynamic month for Layer 2 platforms, with notable shifts in total addresses, transactions, and total value locked (TVL).

Layer2 Monthly Report – August 2024

Layer 2 platforms experienced significant shifts in total addresses, transactions, and total value locked (TVL) throughout August 2024.

Here's a closer look at the key findings:

Total Unique Addresses

Optimism, Base, and Arbitrum led the way in terms of total unique addresses. Optimism had the highest number with 162.5M, followed by Base at 113.3M and Arbitrum at 37.6M.

Base witnessed the most growth in unique addresses, adding 15.8M new addresses throughout the month. In comparison, Optimism added 6.7M new addresses and Arbitrum added 2.1M.

On average, Base saw an addition of 500K new daily addresses, resulting in a 16% growth rate over its competitors.

Daily Transactions

opBNB, Base, and Arbitrum led in daily transactions throughout the month.

opBNB had an average of 8.4M daily transactions, followed by Base (3.9M) and Arbitrum (1.8M).

Overall, opBNB recorded the highest number of transactions with 261M in August.

Blast and Base recorded the highest growth in total transactions, with increases of 32% and 24%, respectively.

Total Value Locked (TVL)

At the end of August, Arbitrum, Base, and Blast secured the top spots for total TVL.

However, all Layer 2 platforms saw a decrease in TVL compared to the beginning of the month.

Arbitrum had the highest TVL at $2.6B, while Base followed with $1.5B.

In terms of net flow, Arbitrum saw a positive inflow of $214M, whereas Optimism experienced an outflow of $181M.

Category Breakdown

Lending, DEX, and Derivatives were the dominant sectors for most Layer 2 platforms.

On Arbitrum, AAVE V3 had the highest TVL for lending and Uniswap for DEX.

Meanwhile, on Optimism, Velodrome led the DEX category, and on Base, Aerodrome led for DEX and AAVE V3 for lending.

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