1/ L2s aren’t just scaling Ethereum.
They’re scaling demand for ETH.
• 50K+ ETH bridged to L2s weekly
• ETH = 35% of L2 lending collateral
• Every new wallet = more ETH to hold, trade, and stake
L2s turn ETH into the monetary base of the on-chain economy.
2/ Mainnet usage flat? Doesn’t matter.
ETH bridges to L2s at 50K+ ETH/week.
Each bridge = demand signal.
L2s activity is scaling ETH demand.
3/ ETH is becoming DeFi’s collateral of choice.
On L2s, ETH + BTC = 60%+ of all lending collateral.
ETH leads because it earns, secures, and settles.
Bitcoin leans on Ethereum’s rails for programmable finance.
4/ L2s = distribution channels for ETH.
Since March 2024, 450K+ new wallets per week onboard to @arbitrum , @base , and more.
They skip the main chain.
But they buy and use ETH.
6/ Thanks to our data partners at @AlliumLabs and @DefiLlama .
Follow for more deep dives on crypto data, Ethereum scaling, and the evolving on-chain economy.
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