There are now nearly 4 times more active users in the Ethereum ecosystem than there were just 9 years ago, and analysts say growing demand will take ETH to new heights.
According to data compiled by Bitwise, an issuer of #cryptocurrency #Etf , in the first quarter of 2020, the number of active users of #StartInvestingInCrypto 1-day and scaling solutions Arbitram and Polygon averaged more than 25 million, the lion's share of which came from Ethereum layer-1 mining.
The Q1 2024 1-day user count, which also includes the Tier 2 Optimism, Base and zkSync networks launched since then, will be around 1 million, a nearly 225x 9x increase.
As a result of the shift of transactions to L2, Ethereum now accounts for a much smaller percentage of active daily users.
On 6/4, the Ethereum core network had 378,000 active users, the Polygon network had 130 million, and the other 4 L2 networks had about 150 million active users.
Optimism was building at the end of 2021, with the core network and zkSync base opening to the public in 2023.
Vitalik Buterin, co-founder of Ethereum, is focused on using L2 as a means of scaling the underlying blockchain, so the number of Ethereum users doesn't seem too high, but it's part of the roadmap.
He recently said that L2S is similar to the sharding concept of the old Eth2 plan and that this layer could also facilitate the growth of different "subcultures" in the Ethereum ecosystem. \n Meanwhile, cryptocurrency Etf firm VanEck has raised its target price for Ethereum and expects the cryptocurrency to hit 22,000 by 2030.
In a blog post published March 6-5, Matthew Siegel, head of digital asset research at vaneck, and his colleagues said that Ether's 2030 expectations will increase from 11,800 last year, with revenue per user exceeding most Web2 companies and growing in popularity among traditional financial market participants. And also among the great masters of their craft.
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