Despite a decline in adoption for other Ethereum Layer-2 (L2) networks, Coinbase-incubated Base has seen a significant increase in activity over the last few months. The combined transaction per second (TPS) for all Ethereum L2 and L3 networks has declined by 73% since its peak in August. L2s rollups specifically saw their lowest TPS since June. Networks like Arbitrum and Linea experienced major declines in active addresses and transaction counts. However, Base has been a notable outlier, reaching a record high of over 66 TPS and accounting for over 17% of all active addresses for L2 networks. Base is also the second-largest L2 network in terms of total value locked (TVL). Despite the decline in L2 activity, most networks have achieved on-chain profits over the last six months, with Base being the most profitable. However, these profits only account for on-chain revenues and not off-chain expenses.



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