TLDR
Layer 2s now account for the vast majority of Ethereum activity, with reports citing about 95% of TPS attributable to L2s this week. See the data cited in a market update.
- New catalysts appeared: Aztec launched its privacy L2 Ignition Chain on mainnet, adding a fresh venue for activity (project launch coverage).
- Ethereums upcoming Fusaka upgrade and a proposed Interop Layer aim to cut costs and unify cross?L2 UX (PeerDAS explainer).
- Activity is rotating, not uniformly rising. Some L1 engagement cooled as airdrop farming subsided while L2 interaction held up (analysis).
Deep Dive
1. L2 Share Hit New Highs
The balance of throughput has shifted decisively to rollups, with roughly 95% of recent TPS attributed to L2s per the report above. A perpetual DEX called Lighter was highlighted as a contributor to the new high.
This aligns with the broader trajectory where transactions migrate to cheaper execution layers while Ethereum L1 acts as a settlement layer. Short?term spikes can be venue driven, but structurally, L2s have been capturing usage at lower cost.
If you care about throughput trends and fees, monitor L2 venues that are adding orderflow. Rotation across a few dominant apps can swing headline TPS.
2. New L2 Launches And Spikes
Aztec Networks Ignition Chain went live on mainnet, bringing programmable privacy to L2 with a decentralized consensus layer, which could attract privacy?sensitive DeFi flows (launch coverage).
Outside the main rollups, Shiba Inus Shibarium saw daily transactions jump roughly 78% in a day, a reminder that activity is fragmented across ecosystems and can rebound quickly on micro?catalysts (transaction uptick).
Starknet has also drawn attention recently, with coverage highlighting renewed interest and a strengthening zk narrative around its tech stack (network momentum).
Watch where new features or privacy guarantees land. User flow often follows new capability and lower friction rather than brand alone.
3. Upgrades And Interop Could Reshape Flows
Ethereums Fusaka upgrade introduces PeerDAS, expanding blob data availability and lifting rollup capacity. Coverage suggests L2 throughput could scale materially over time as blob targets rise and fees compress further (PeerDAS explainer).
In parallel, a proposed Ethereum Interop Layer aims to unify cross?L2 actions in a single wallet experience, reducing fragmentation from multiple bridges and chain UIs (proposal summary).
A separate take argues that while L2 interaction continues, overall weekly active wallets in the ETH ecosystem cooled from mid?year peaks as airdrop farming faded, changing the mix of activity rather than the direction everywhere at once (analysis).
If interop and data availability improve, usage may consolidate into a few consumer?grade experiences, and fee compression could push even more activity to L2s.
Conclusion
L2s just cemented their lead in Ethereum throughput, helped by app?specific bursts and new L2 launches. Upcoming scaling and interop upgrades aim to reduce friction further, while some L1 engagement has cooled as incentives fade. Net effect: activity is rotating toward cheaper, purpose?built L2s, and the next catalysts are better interop and lower rollup data costs.
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