The number of daily active users in Ethereum and top layer 2s has rocketed in recent years, and VanEck analysts say this growth will continue.
There are almost nine times as many daily active users in the Ethereum ecosystem as there were just four years ago — and analysts say the increasing demand is set to propel ETH to new heights.
According to data compiled from crypto ETF issuer Bitwise, there was an average of more than 250,000 daily active users of Ethereum and its scaling solutions Arbitrum and Polygon in Q1 2020, with the lion’s share coming from the Ethereum layer-1 mainnet.
As of the first quarter of 2024, this daily user number — which now also includes the since-launched layer-2 networks Optimism, Base and zkSync — hit around 2.25 million, nearly nine times greater.