Ethereum Mainnet Activity Surpasses Layer-2, Daily Active Addresses Reach 945,000
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Coinmarketcap
- Mainnet Activity Surge: Ethereum's mainnet has seen daily active addresses reach approximately 945,000, surpassing all leading layer-2 networks, indicating a resurgence in mainnet appeal amidst low gas fees, although some activity may stem from address poisoning attacks.
- Increase in Address Poisoning Attacks: Security researchers noted that the spike in network activity is partly due to address poisoning attacks, where scammers send small transactions to mislead users, with reduced network fees making such attacks economically viable, potentially skewing genuine user transaction data.
- Leader in Asset Tokenization: Ethereum remains the preferred blockchain for on-chain assets, with total assets exceeding $400 billion, and the global market for tokenized assets projected to surpass $11 trillion by 2030, underscoring Ethereum's strong position in the asset tokenization space.
- Decline in L2 Market Value: Despite the rise in Ethereum mainnet activity, the total value across all layer-2 networks has decreased by 17% to $45 billion, reflecting waning confidence in L2 solutions while highlighting the relative strength of the Ethereum mainnet.
Analyst Views on ETH
Wall Street analysts forecast ETH stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ETH is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 28.610
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
