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In the ever-evolving landscape of blockchain networks, the competition for unique addresses has intensified. Coingeckos latest analysis sheds light on the staggering growth of Layer 2 (L2) networks, yet Ethereum stands tall with a massive user base.

Arbitrum is the front-runner among Layer 2 networks, boasting an impressive 11.4 million unique addresses. Following closely behind is optimismFND with 8 million addresses.

While Layer 2 networks have experienced remarkable growth, Ethereum remains the undisputed leader. With over 241 million unique addresses as of August 20, 2023, Ethereum maintains a substantial lead, reaffirming its dominance in the blockchain ecosystem.

As Layer 2 networks continue to gain traction and address scalability issues, the competition for unique addresses is expected to intensify further. Ethereum, meanwhile, sets the standard, but the race for innovation in Layer 2 solutions is far from over.

This comes days after Coingecko also revealed the high adoption rate on Bases layer 2 network. After just 11 days of being live on the mainnet, Base had already gathered one million individual addresses. Research by CoinGecko shows that the network already had a lot of hype around it before its official launch date of August 9, 2023, having amassed 532,000 addresses via illegitimate bridges.

Coingeckos analysis reveals the impressive growth of Layer 2 networks, with Arbitrum emerging as a strong contender. Nevertheless, Ethereums monumental user base cements its position as the heavyweight champion in the blockchain arena. The future promises exciting developments as these networks strive for greater scalability and usability.

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Layer 2 Networks Gain Momentum as Ethereum Remains the Giant - Blockchain Reporter