#EthereumMemecoin Experts think that as more people start using Ethereum, the price of ETH could go up. The number of people using Ethereum daily has increased a lot in the past four years, and experts believe this will make the price of ETH go higher.
In 2020, there were about 250,000 people using Ethereum and its related networks each day. Now, in 2024, that number has grown nine times bigger, reaching around 2.25 million. This growth is partly because of new networks like Optimism, Base, and zkSync.
However, when people started using these new networks, the number of daily Ethereum users went down. On June 4, 2024, there were only 378,000 active users on Ethereum's main network, while other networks like Polygon and the other four Layer 2 networks had more active users.
Even though the number of users on Ethereum doesn't look good right now, one of Ethereum's co-founders, Vitalik Buterin, is working on making the main Ethereum network bigger through these Layer 2 networks. This is part of Ethereum's plan, even if it means fewer users on the main network.
Buterin says that these Layer 2 networks are like the sharding idea from an earlier Ethereum design, and they can support different parts of the Ethereum network.
#EthereumMemecoin $ETH