Ethereum L2 Transaction Fees Drop Significantly Over Six Months

According to Odaily, data from Tokenterminal reveals that Ethereum Layer 2 (L2) transaction fees have significantly decreased over the past six months. This reduction in fees has led to a doubling of daily transaction volumes and monthly active users on L2 networks. However, this shift has had a substantial impact on Ethereum Layer 1 (L1) revenue, which has seen a 99% decline.