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Ethereum Layer 2 Gas Fee Reaches New Record…Here’s Why!

Ethereum Layer 2 Gas Fee Reaches New Record…Here’s Why!

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Answer Ethereum Layer 2 Gas Fee Reaches New Record…Here’s Why!

At the beginning of June 2022, platforms built on the second layer of Ethereum L2 showed a rapid rise in gas fees and transaction pressure.

Veteran cryptocurrency expert Paolo Revovo noted this rally through information and data presented on the Dune Analytics platform.

Ethereum Layer 2 gas fees hit a new record:

Yesterday was a memorable day in the history of the gas fees that were spent for the second layer of Ethereum.

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The major second tier platforms were responsible for approximately 4% of the net gas in the Ethereum blockchain.

In total, Layer 2 Ethereum platforms consumed over 3.95 billion gases, which is 3.95% of the daily Ethereum gas limit.

This is the highest level in the history of the Ethereum blockchain.

As for the gas consumed from the second layer platforms of Ethereum, it was controlled by the following projects:

Arbitrum, Aztec, DeversiFi, Boba Network, dYdX, ImmutableX, Loopring, Optimism, Metis, Polygon Hermez, Starknet, ZkSwap, ZkSync and other Layer 2 platforms.

This sudden rise can be attributed to the euphoria around the long-awaited airdrop of Optimism (OP).

The event also caused fees to be pushed up in several decentralized platforms and protocols such as:

SushiSwap, MakerDAO, and ENS.

Besides, higher gas fees in the second layer may also mean that some crypto enthusiasts are moving their investments to the second layer of Ethereum.

Despite the significant downturn in the cryptocurrency market, Ethereum Layer 2 solutions recorded the busiest month in its history in terms of gas usage.

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The monthly amount of gas expended added more than 50% compared to April levels.

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