Ethereum flywheel just getting started 🥳
L2s are proving the model works.
When blobs went live in March, everyone had one question: If transactions become cheap, how will chains stay profitable?
Today, the data from @growthepie_xyz says they do.
Since April, both transaction counts and onchain profits have been climbing.
Cheaper txs didn’t kill margins, they increased activity.
Transaction count:
In April L2s were doing 568M tx
Today, 822M
Onchain profit:
April: $5.6M
October: 16.2M
App Revenue:
April: $760M
October: $1.3B
That lead to:
-> More users, more apps, more use-cases.
-> More bridging from L1 → L2 = more liquidity and more fee capture.
->L2s have matured past the early build and burn phase.
Now we’re seeing real usage -> real revenue -> sustainable ecosystems.
The onchain economy finally has a working business model.
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