PANews reported on August 6 that according to The Block, the number of transactions on the Ethereum network has dropped to a five-month low, with the seven-day moving average transaction volume falling to 1.12 million transactions per day, and active wallet addresses also falling to approximately 400,000. indivual. However, this does not mean that the Ethereum ecosystem is in trouble. In contrast, Layer 2 solutions saw a significant increase in transaction activity.

Coinbase's Layer 2 platform Base became the leader with 3.83 million transactions. This transition may lead to more sustainable gas fees on the Ethereum main chain, making it more suitable for large transactions or key smart contract interactions, while also improving the efficiency of base layer resources. However, this also raises questions about ETH's long-term value proposition.