SKN | Ethereum Mainnet Daily Active Addresses Surpass All Layer‑2 Networks, Signaling Resurgent Base Layer Usage

Ethereum’s base layer has recently seen daily active addresses exceed the combined total of top layer‑2 networks, highlighting renewed mainnet engagement. This development comes as transaction costs on the Ethereum mainnet have stabilized and on‑chain activity continues to grow, suggesting that foundational blockchain usage remains critical even as scaling solutions mature. For crypto markets, this trend underscores the continued importance of Ethereum’s core network alongside expanding layer‑2 ecosystems.

Market Reaction: Mainnet Participation Climbs

Ethereum’s mainnet now records over 700,000 daily active addresses on a seven‑day average, reaching levels not seen since mid‑2021. Transaction volumes have surged, with the network processing nearly 1.87 million transactions in a single day at the end of 2025. ETH price has remained relatively stable near the mid‑$2,900 range, indicating that on‑chain activity is growing independently of short-term price movements. The increase in mainnet usage reflects a mix of decentralized finance activity, NFT transactions, and stablecoin transfers, reaffirming Ethereum’s role as a foundational settlement layer in the crypto ecosystem.

Layer‑2 Networks and Scaling Dynamics

While Ethereum mainnet activity has surged, layer‑2 solutions like Base, Arbitrum, and Optimism continue to maintain significant transaction throughput. These networks provide faster and cheaper execution, supporting high-frequency trading, microtransactions, and complex smart contract operations. The recent uptick on the mainnet demonstrates that base-layer engagement remains critical, especially for activities requiring security and settlement finality. This coexistence of strong mainnet and layer‑2 activity indicates a complementary ecosystem rather than one layer cannibalizing the other.

Investor Sentiment and Strategic Perspective

The increase in mainnet addresses carries implications for institutional and sophisticated investors. Rising base-layer engagement signals ongoing confidence in Ethereum’s core protocol, highlighting its reliability for decentralized finance, token settlements, and other critical applications. At the same time, layer‑2 adoption continues to drive cost efficiencies, shaping investor strategy and development priorities. Investor behavior reflects this duality, with some interpreting high mainnet activity as a sign of robust network utility and others adjusting allocations to optimize fees and transaction speed. This balance affects trading volumes, derivative positioning, and on-chain capital flows.

Looking forward, stakeholders will monitor several key indicators to assess whether these trends persist. Future Ethereum upgrades that reduce gas costs or improve throughput could influence mainnet activity, while adoption rates on layer‑2 platforms will continue to reflect the efficiency-driven behavior of users. Broader macroeconomic factors, regulatory developments, and institutional inflows are likely to impact daily active addresses and overall network utilization. The interplay between Ethereum’s mainnet and layer‑2 networks will remain a critical metric for evaluating the long-term health and utility of the ecosystem.