In the rapidly evolving landscape of Layer 2 solutions, Coin98 Analytics has just unveiled their comprehensive November report, shedding light on the key takeaways and shifting dynamics within the ecosystem. From addresses to transactions and TVL (Total Value Locked), here are the highlights from this insightful analysis.

Addresses

The battle for user adoption among Layer 2 platforms saw a remarkable shift. Optimism surged ahead of Base, claiming the top spot in total unique addresses. Notably, Optimism continued its dominance by generating over 22 million new addresses in November, closely followed by Base with over 4.5 million new addresses. The growth in new addresses was significant across various platforms, with Scroll, Optimism, and Linea marking notable percentage increases.

Source: Coin98 Analytics

Transactions

opBNB emerged as a standout performer in terms of daily transactions, hitting a staggering 5.4 million transactions on November 27th, surpassing all other Layer 2 solutions. The growth in total transactions was also noteworthy, with opBNB and Scroll experiencing significant upticks of 191% and 177%, respectively.

Daily TPS (Transactions Per Second)

The top three Layer 2 solutions with the highest daily TPS were opBNB, zkSync, and Linea, indicating their prowess in facilitating higher transaction throughput.

Money Flow and TVL

Arbitrum continued its lead in Total Value Locked (TVL) by chain, while Blast showcased rapid TVL growth, reaching over $621 million in just nine days. The TVL growth percentages varied across different platforms, with Manta, Linea, and Mantle demonstrating considerable increases.

TVL by Category

Arbitrum’s TVL surge was particularly attributed to the Derivative sector, while Optimism and Base witnessed increases, primarily in Synthetic, Derivative, and DEX sectors. Notably, specific protocols within each ecosystem, such as GMX V1, Uniswap V3, and AAVE V3, led their respective categories.

NFTs

Base led the pack in generating new NFTs in November, surpassing 2.4 million. However, compared to the previous month, the growth percentages varied significantly across platforms, with some experiencing declines in NFT creation.

The November Report by Coin98 Analytics illustrates the dynamic nature of the Layer 2 landscape, showcasing shifting user adoption trends, transaction volumes, and TVL dynamics across various platforms. The competition among Layer 2 solutions continues to intensify, with each platform striving to capture market share and offer innovative solutions to users and developers.

The insights provided by Coin98 Analytics serve as a compass for stakeholders navigating the burgeoning Layer 2 ecosystem, offering a glimpse into the evolving trends and performances shaping the future of decentralized finance and blockchain technology.

Source: https://azcoinnews.com/layer-2-november-report-optimism-takes-the-lead-opbnb-surges-and-tvl-trends.html