Daily active addresses on the Ethereum mainnet have reached approximately 945,000, surpassing all leading layer-2 networks, according to data from Token Terminal. This recent surge follows the Fusaka upgrade in December, which significantly lowered gas fees, allowing Ethereum to outpace popular layer-2 solutions like Arbitrum One and Base Chain.
On January 16, the Ethereum network recorded nearly 1.3 million active addresses, although this figure has since decreased. The total value secured across all layer-2 blockchains is currently $45 billion, reflecting a 17% decline over the past year.
However, security analysts, including those from Cyvers, have indicated that the increase in activity may be influenced by address poisoning attacks, a form of scam where small transactions are sent from fake addresses to mislead users. This tactic has become more feasible due to the lower network fees.
Despite the potential for fraudulent activity, Ethereum continues to dominate the tokenization of assets, with the total value of on-chain assets exceeding $400 billion. The market for tokenized assets is projected to exceed $11 trillion by 2030, with Ethereum holding a significant share of stablecoins.