The transaction speed of Ethereum L2 has reached 318 TPS, which is 24 times that of the main chain

According to L2Beat data, the activity of Ethereum's Layer 2 solutions has reached a historic high. Despite criticism that Ethereum's average transaction fee of $3.85 limits its adoption rate, this view overlooks the significant impact of Layer 2 scaling solutions. These solutions include Base, Arbitrum, Blast, Optimism and Mantle, with their total value locked (TVL) reaching $11.7 billion; if bridge deposits are included, it reaches $36.7 billion.

The data shows that as of August 7th, the daily transaction volume of Ethereum L2 is close to its historical peak at 318 transactions per second due largely to the growth in networks like Xai, Base and Proof of Play. Currently, the transaction processing volume for Ethereum's Layer 2 solution is already 24 times that of the main chain highlighting recent upgrades' success in reducing rollup operating costs.