Published 1 minute earlier on
zkSync, a Layer 2 scaling solution for Ethereum, recorded more transactions than the Ethereum mainnet over a one-month period, processing34.7 million transactions in the past 30 days.
A total of 34.2 million transactions were recorded on Ethereum's mainnet during the same period, according to L2Beat data. Next in line was Arbitrum, which saw 31.4 million transactions over the past 30 days.
The recent rise in transaction volume on zkSync has been attributed to the spread of inscriptions a feature originally created on Bitcoin to EVM networks, including most Layer 2 chains.
Data from L2Beat highlights that zkSync experienced its biggest monthly transaction surge on Dec. 16. That's when sync inscription was rolled out on the network and constituted 4.6 million of the 5.3 million transactions that day alone, according to Dune data aggregated by Dragonfly analyst Hildobby.
zkSync operates as a Layer 2 network on the Ethereum mainnet. By bundling hundreds or thousands of transactions into a single cryptographic proof, it verifies transactions much faster and more cheaply than the mainnet.
Since mid-December, inscription-related transactions have contributed to zkSyncs overall activity, helping it surpass both Ethereum and its Layer 2s.
Inscriptions are data embeds found in transaction call data, which, like Ordinals on Bitcoin, can be used to create alternate tokens and NFTs. Such tokens includeEthscriptions on Ethereum, Doginals on Dogecoin and Solana Inscriptions on Solana.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Read more here:
- Why Ethereum Classic And Litecoin Are Diving - Benzinga [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Polygon (MATIC) CEO Announces Ethereum (ETH) As The Layer 1 Future. HedgeUp (HDUP) Intends To Lead Web 3. - Benzinga [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Bitcoin, Ethereum Technical Analysis: BTC Above $20000, ETH ... - Bitcoin News [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Why Bitcoin Cash And Ethereum Classic Are Ripping Higher - Benzinga [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- How To Stake Ethereum On Coinbase? - CoinGape [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Binance Converts $1 Billion BUSD Into Bitcoin, BNB, and Ethereum ... - Bitcoin News [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Top Analyst Predicts Rallies for Fantom and One Ethereum-Based Altcoin, Says ETH Looks Hella Bullish - The Daily Hodl [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Ethereum Continues to Dominate the NFT Market, With a Current ... - BanklessTimes [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Ethereum-Based Uniswap Officially Launches on BNB Chain - Watcher Guru [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Why are Bitcoin, Ethereum, and Solana crashing today? Here's what ... - USA TODAY [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Trader Who Nailed Crypto Bottom Says Bitcoin and Ethereum Primed for Massive Rally Following Strong Weekly ... - The Daily Hodl [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Ethereum Drops Below This Key Level; ApeCoin Becomes Top Loser - Benzinga [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Why Bitcoin, Ethereum, and Dogecoin Popped on SVB Rescue ... - The Motley Fool [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Ethereum layer-2 solutions may focus less on token incentives in the future - Cointelegraph [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Cryptocurrency Ethereum Classic Decreases More Than 3% Within 24 hours - Benzinga [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Ethereum & Vechain showcase how blockchain technology ... - Crypto News Flash [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Ethereum Mixer Offer to Protect Anonymity & Making Transactions Untraceable in 2023 - Yahoo Finance [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Test: New ChatGPT-4 instantly identified Ethereum smart contract ... - Finbold - Finance in Bold [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Banking contagion sparks crypto frenzy: investors rush to 'HODL ... - Finbold - Finance in Bold [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Ethereum price reaches lowest level relative to Bitcoin in 5 months - Cointelegraph [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Euler Finance Hacker Mixes $1.6M in Ethereum on Tornado Cash - Decrypt [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Ethereum Layer-2 Solution Arbitrum Announces Token Airdrop, Opens Tech Stack to Devs - Decrypt [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Bitcoin Price and Ethereum Prediction: BTC Finds Support at ... - Cryptonews [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Why Ethereum Classic (ETC) Is Up 9% In The Past 24 Hours - Benzinga [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- How Crypto Whales impacted Big Eyes Coin ($31.71M Presale!), Bitcoin, and Ethereum this week - Euro Weekly News [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Why Bitcoin- And Ethereum-Related Stock MicroStrategy Is Seeing Blue Skies - MicroStrategy (NASDAQ:MSTR) - Benzinga [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Ethereum Rises Above This Key Level; Immutable Emerges As Top Gainer - Benzinga [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Cardano Whale Transactions on the Rise As the Ethereum Competitor Continues To Dominate Development Activity - The Daily Hodl [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Why Ethereum will emerge victorious in the ongoing bull rally as Tether mints $2 billion USDT - FXStreet [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Bitbuy Announces "Bitbuy Boosts" Ethereum Reward Program - WonderFi Technologies (OTC:WONDF) - Benzinga [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Ethereum Price Regains Strength, Indicators Suggest High Chances of Upside Break - NewsBTC [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Three Ethereum alternatives that every Crypto Investor should consider in the ongoing Bear Market Chainlink, Polygon and Big Eyes Coin - Euro Weekly... [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Crypto community with 88% historical accuracy sets Ethereum price ... - Finbold - Finance in Bold [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- SECs Gary Gensler wants Proof-of-Stake Ethereum to be regulated as a security, will traders turn to ETHW? - FXStreet [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Playboy Lost $4.9M on Ether It Accepted as NFT Payments - CoinDesk [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- OKBChain Will Be an L2 Chain of Ethereum, Says OKX Founder By ... - Investing.com [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Post-Merge Ethereum: Grayscale extends review of ETHPoW decision - Cointelegraph [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- 16% Growth For Solana (SOL) In 7 Days: Ethereums Dominance To Be Challenged? - Coinpedia Fintech News [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Ethereum Classics TVL recovers and heres the key driving factor - AMBCrypto News [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Better Buy: Coinbase vs. Ethereum - The Motley Fool [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Cryptocurrencies Price Prediction: Bitcoin & Ethereum European Wrap 20 March - FXStreet [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Ethereum (ETH) Has Door Open to $2,000 and Higher, Santiment Shares Reason - U.Today [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Bitcoin, Ethereum Technical Analysis: BTC Starts the Week Above $28000, as Global Banking Crisis Worsens Market ... - Bitcoin News [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- I asked ChatGPT Ethereums price prediction after Shanghai and its response was - AMBCrypto News [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- What Ethereum whales are doing ahead of Arbitrum's ARB token airdrop - FXStreet [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Bitcoin, Ethereum, Dogecoin Slide On Credit Suisse Worries - Benzinga [Last Updated On: March 22nd, 2023] [Originally Added On: March 22nd, 2023]
- Institutional Investors Shift Focus On These Altcoins, Sell off Bitcoin and Ethereum - Coinpedia Fintech News [Last Updated On: March 22nd, 2023] [Originally Added On: March 22nd, 2023]
- 636,000 Ethereum (ETH) Worth $1.1B Lost Forever - The Crypto Basic [Last Updated On: March 22nd, 2023] [Originally Added On: March 22nd, 2023]
- NYAG calls Ethereum a security and destroys decentralization myth - CoinGeek [Last Updated On: March 22nd, 2023] [Originally Added On: March 22nd, 2023]
- Crypto Price Today: Bitcoin holds above 28k, Ethereum and other tokens gain - CNBCTV18 [Last Updated On: March 22nd, 2023] [Originally Added On: March 22nd, 2023]
- Binance NFT Extends Zero Fees, Gas Promotion for Ethereum ... - BSC NEWS [Last Updated On: March 22nd, 2023] [Originally Added On: March 22nd, 2023]
- Divergent On-chain Trends Within Ethereum/Bitcoin Network Add to ... - Cryptonews [Last Updated On: March 22nd, 2023] [Originally Added On: March 22nd, 2023]
- Bitbuy Announces "Bitbuy Boosts" Ethereum Reward Program - Yahoo Finance [Last Updated On: March 22nd, 2023] [Originally Added On: March 22nd, 2023]
- Ethereums Shanghai Hard Fork Now Has Official Target Date - CoinDesk [Last Updated On: March 22nd, 2023] [Originally Added On: March 22nd, 2023]
- Bitcoin, Ethereum prices seesaw ahead of the Feds decision on rate hike - FXStreet [Last Updated On: March 22nd, 2023] [Originally Added On: March 22nd, 2023]
- Ethereum Price Seems Ready For Another Leg Higher Over $1,750 - NewsBTC [Last Updated On: March 22nd, 2023] [Originally Added On: March 22nd, 2023]
- Ethereum Price Prediction: Money Flows From ETH To BTC - InvestingCube [Last Updated On: March 22nd, 2023] [Originally Added On: March 22nd, 2023]
- Ethereum and the Future of the NFT Market - The Coin Republic [Last Updated On: March 22nd, 2023] [Originally Added On: March 22nd, 2023]
- Ethereum (ETH) Bulls Brace For Quick Drop As Charts Predict 10% Downswing - NewsBTC [Last Updated On: March 22nd, 2023] [Originally Added On: March 22nd, 2023]
- Top Ethereum Rival Could Be Gearing Up for Glorious Move, Says Investor Who Called 2022 Crypto Bottom - The Daily Hodl [Last Updated On: March 22nd, 2023] [Originally Added On: March 22nd, 2023]
- Bitcoin Price and Ethereum Predictions: How US FOMC Decision Could Impact the Crypto Market? - Cryptonews [Last Updated On: March 22nd, 2023] [Originally Added On: March 22nd, 2023]
- The Potential 100X Project Uwerx (WERX) And Ethereum (ETH ... - The Crypto Basic [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Tested on Ethereum, StarkWares Zero-Knowledge Proofs Are Now Live on Bitcoin - Decrypt [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Bitcoin, Ethereum and Litecoin Are Commodities Says CFTC - Trustnodes [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- VeChain's $275 Million Reserves Include Bitcoin, Ethereum, & VET - Watcher Guru [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Ethereum (ETH) Correlation With Bitcoin at Its Monthly High, Here's Why This Is Good Trend - U.Today [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- ARB price to $2? Ethereum L2 rival Arbitrum will double in April, fractal suggests - Cointelegraph [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Andy Warhol Artworks to Be Offered as Tokenized Investments on Ethereum - CoinDesk [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Solana (SOL) And Ethereum (ETH) Prices Show Potential, Collateral ... - Analytics Insight [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Ethereum Classic (ETC) price has a bullish catalyst in April - InvestorsObserver [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Crypto Price Alert: BlackRock Issues Stark Fed Warning After Huge Bitcoin And Ethereum Boom - Forbes [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Price Prediction Of Aptos (APT) And Ethereum (ETH), Collateral ... - Analytics Insight [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Crypto Price Today: Bitcoin below 28k, Ethereum and other tokens edge lower - CNBCTV18 [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Bitcoin, Ethereum Technical Analysis: BTC Consolidates Above ... - Bitcoin News [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Solana (SOL) Surpasses Ethereum (ETH) in Monthly Active Addresses: Details - U.Today [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- zkSync Taking Spotlight on Ethereum, Here Are Latest Metrics - U.Today [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- PancakeSwap DEX Launches Version 3 on BNB Chain and Ethereum - CoinDesk [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- 3 reasons why Ethereum price can reach $3K in Q2 - Cointelegraph [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Ethereum ERC-4337 bundlers How hard is joining the network? - Cointelegraph [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Satellite orbiting Earth participates in the Ethereum KZG ceremony - Cointelegraph [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]