As Ethereum users increase, experts expect a price increase in ETH.

The Ethereum ecosystem has nearly nine times more daily active users than just four years ago; Experts believe that increased demand will increase the price of ETH.

Significant growth in daily active users

Data collected by crypto #ETF issuer Bitwise shows that Ethereum and layer-2 scaling solutions Arbitrum and Polygon had an average daily active user base of more than 250,000 in the first quarter of 2020.

Now, in the first quarter of 2024, the number of daily users has grown ninefold, exceeding approximately 2.25 million, adding new layer-2 networks such as Optimism, Base and zkSync.

Moving transactions to L2s caused Ethereum's daily active users to decrease significantly.

On June 4, the #Ethereum mainnet had 378,000 active users; Polygon logged 1.3 million active users and the other four L2s logged around 1.5 million total active users.

Ethereum's scaling and future potential

The end of 2021 brought optimism. ZkSync mainnet and Base go public in 2023.

Although Ethereum's user numbers do not look good, co-founder Vitalik Buterin is focused on scaling the main blockchain through L2s. This is normal, although the number of users seems low as part of the plan.

Buterin claimed that L2s are similar to the sharding idea of ​​the previous Eth 2 design and that the layer could support several “subcultures” within the #Ethereum network.
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