Ethereum transaction count increases in the middle of the ether (Eth) push towards $ 5,000 miles. However, increasing competition feeds on user’s network and mindshare income.
The daily average number of Ethereum transactions walks near all time, with more than 1.7 million transactions recorded on Tuesday, according to Nansen.
For the comparison, the Ethereum Layer-2 network, arbitrum and base, recorded more than 3.4 million transactions and 8.6 million transactions, respectively, and aptos, a competing layer-1 blockchain, which hosted 3.8 million transactions on Monday, according to the tie.
The active addresses at Ethereum have remained relatively flat, changing within a range of 400,000-600,000 active addresses since 2018, with occasional spikes above 1 million marks.
Data shows that most of Ethereum traffic is to be —siphon on other blockchain networks, which destroys its market sharing, The food in protocol revenues and forcing network stakeholders to re -consider another approach for the smart contract network.
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Incorrect incentives and next -generation blockchain shares in the Ethereum market
The first blockchain contract network around the world, once the undisputed champion of the general-purpose contract contract platforms, face of growing competition from within the ecosystem and external players.
Network fees on Ethereum Base layer have fallen since 2022, partially Due to Dencun upgradingwhich went live in March 2024, and significantly reduced network fees for Layer-2 Ethereum networks.
Upgrading incentive users switch to cheaper layer-2 solutions to save heavy network transaction fees, which can be as high as $ 50 per transaction during congestion hours.
High-throughput layer-1 networks such as Solana and Sui also compete with Ethereum for User Mindshare and a piece of crypto market, Forcing the Ethereum Foundation to suit In the growing changes and re -consider the scaling and implementation of the network roadmap.
However, Polygon Labs CEO Marc Boiron recently told Cointelegraph that attempts to compete with newer Layer-1 networks directly to performance metrics such as throughput could prove “dangerous” to Ethereum.
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