17069
growthepie.xyz 🥧📏

@growthepie #17069

Let's scale Ethereum! Layer 2 fundamentals and blockspace analytics. We are public goods funded. https://growthepie.xyz
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📰 New report by @coinbase - Guide to Crypto Markets: Q4 2024

Both Ethereum and its Layer 2s feature positively with some interesting insights and data points - including some from growthepie 🥧📏

Worth Reading: https://www.coinbase.com/en-gb/institutional/research-insights/research/market-intelligence/q4-2024-guide-to-crypto-markets
📜 New All Time High for @scrollzkp Throughput 2Mgas/s

This chart shows the 7-day rolling average over 1 year for historical context.

Throughput = The total amount of Gas spent per second. More simply the amount of bandwidth that has been used.
Seems there is a close battle between Mantle and Scroll for who's got more Total Value Locked.

Or will they trend up-only together much much longer? 🧐
For now, Scroll's taking the lead.
Ethereum Layer 2 Weekly Engagement is up again from last week, with +7.81% more distinct active addresses.
Check the latest on @octant with the new tracker:
- Who's part of the community and donating how much?
- How much is Octant's matching amount based on donations to projects?

If more builders are aware of funding opportunities, we'll have higher quality projects building everywhere. 🤩
Who had the highest revenue in 🥧📏 tracked Layer 2s yesterday you ask?

Top 3:
🥇Base with 24.97 ETH
🥈Scroll with 8.26 ETH
🥉Arbitrum One with 4.55 ETH

Check the rest on our platform with higher timeframes and charts to revenue, cost, profit/loss & margins.
📢 Announcement: New Octant Funding Tracker

- New Aggregated metrics (All Users | Donating Users) for each Epoch.

- Compare Allocations and Distribution between Projects. See (Amount locked | Rewards | Donated) for individual wallets too!
Layer 2s have more value locked in ETH than Stablecoins

ETH $10.92B vs Stablecoins $10.65B

(Unofficial Metrics by growthepie Intern 🤓 - ETH includes ETH derivatives)
📣 Announcement - Introducing the Latest Additions to growthepie

@orderly - is an OP stack Optimium on Ethereum using Celestia for data availability. It has a unified ledger for assets from multiple chains and an orderbook that can be used by apps.

Derive - (formerly @lyra.eth ) is built using the OP Stack specially for Derive protocol - a settlement protocol for spot, perpetuals, and options trading. Using Celestia for data availability.

More info next posts 👇
🔍 Need to find an address?
🤔 Can't remember the name of that project?
📈 Want to find the most active contracts?

🏷️ Then use our labels page!
Crazy to think that @base is on track to double the Throughput of the whole Layer 2 space by itself in less than a year with these weekly Throughput hikes.

Throughput = The total amount of Gas spent per second. More simply the amount of bandwidth that has been used.
🙏 Thank you to all who donated to us in recent @gitcoin Rounds:

Metis Ecosystem QF - @metis
⚫️ 21 Contributors = $110.29
⚫️ 8th Largest match = ~141 METIS 👀
⚫️ Total = $4,501.16

Octant Community Round 1 - @octant
⚫️ 35 Contributors = $143.04
⚫️ 2nd Largest match = ~1 ETH 👀
⚫️ Total = $2,269.17
📜 Scroll is launching its token - but what are people doing onchain?

While most Gas is spent on DeFi we have seen an increase in the % of total fees being spent on Utility (such as Contract Deployment and Identity).

See the top 3 Utility contracts in the screenshot and check out our Chains - Scroll page for more!
🔎 Take a closer look with our improved zoom feature!

💻 Click and drag on Desktop
📱 Pinch to zoom on Mobile / Tablets
📈 When you measure L2 Total Value Locked in ETH - Up Only!
📜 @scrollzkp Have Announced Their Token SCR - https://scroll.io/blog/scr-token

When the token goes live growthepie will be tracking both Market Cap & Fully Diluted Valuation (FDV).

We also track a whole host of other Scroll metrics including - Activity | Value Locked | Economics | Blockspace - https://growthepie.xyz/chains/scroll
Seeing spikes in NFT Gas Fees on Arbitrum - Past 30 days

Top Contracts:
@layer3xyz Cubes $17,412
@arbitrum Infinite Rainbows $6,388
Blobs are crazy cheap!

There have been spikes but not for a while. With further upgrades to blobs planned it might take a while for L2 Throughput to impact these costs.

If crypto has taught us anything exponential growth can take people by surprise - Time will tell.
General Purpose Layer 2s vs Specialist Layer 2s

Over half the L2s we cover are "General Purpose" (14/21) which account for 97.9% of weekly active addresses!

Will the dominance of General Purpose continue or will we see a Specialist renaissance - which part of the pie will grow faster?

(Or are General Purpose just farmed harder?)
Ethereum doesn't have problems - Ethereum has improvements waiting to be implemented...

Remember all the FUD on Ethereum Fees - Now Ethereum has multiple fee markets serving numerous audiences.

By having multiple fee markets Ethereum benefits from the innovations of competition rather than just having to make one big bet.
growthepie is now actively involved in Onchain Governance - Delegate to us Now!

✅ Ethereum Aligned + Community Aligned
✅ We put the time in to vote for what really matters
✅ No VC investors – Our votes are not influenced

👇 Links in the post below + more details on each chains governance coming in future posts!
Check out the Bankless Weekly Rollup covering our new Onchain Economics

Interesting discussion on what is “profit” and why this is Bullish or Bearish

To help understand Onchain Profit check out our infographic in the post below

https://youtu.be/Fe3qLOcgxco?si=w8LkKNB75cV6dpEQ
Base 3 charts = 3 All Time Highs

Active Addresses | Transaction Count | Throughput

@base is breaking new ground on all Activity Metrics
Layer 2s have used 279 GB of Blob Data this year:
⚫️ 253.74 GB Blobs (Ethereum)
⚫️ 25.41 GB Celestia

Demand for Data Availability is only going to increase!