Ethereum overruns Bitcoin according to the number of L2 transactions

Author: Iskander Ziyanurov

Since its launch in 2009 Bitcoin has never been deprived of the crypto throne, remaining #1 according to the market capitalization; meanwhile, the crypto community considers Ethereum as the key competitor.

A set of updates that lead to the new era, Ethereum 2.0, caused an explosive growth of investing interest, while the ETH price was close to its ATH. According to Evan Van Ness, Ethereum overruns Bitcoin by the number of L2 transactions.

What are the L2 (layer 2) solutions? Those are projects and technologies deployed above basic blockchains. Such solutions are claimed to solve the scaling problem (e.g., Lightning Network). Bitcoin is more vulnerable to the scaling problem, as the Ethereum 2.0 version is going to increase the transaction speed to 100 000 transactions per second (compared to the current 15 transactions).

Ethereum is a more promising asset from the viewpoint of investors. ETH-based products attracted $14.4 million more, reaching the new ATH rate – 27.9% of all crypto investments made by institutional players. The top-5 also includes Cardano, Polkadot, and Ripple.