In this dashboard, we analyze three Ethereum layer-2 networks: Polygon, Arbitrum, and Optimism. There has been a noticeable increase in daily active users, volume traded, and more in L2 networks in recent weeks, as evidenced by the graphs. Over the past year, each network has experienced rapid growth and performance.

According to the data, the number of users and transactions on the Arbitrum network has been steadily growing despite a drop in Google searches.

The dashboard provides valuable insight into the growth and performance of these networks as well as their future potential, while Polygon faces a decline in interest and activity.

It was designed to provide comprehensive and accurate insight into Ethereum layer-2 network performance and growth using a methodology. Using this dashboard as a starting point for further research and analysis, you will be able to gain insight into trends and patterns in the data.

The data used in this dashboard was collected from flipside crypto blockchain data

Analysis I:

In the first analysis, we are going to find out Optimism Blockchain activity over the time

Observations:

Based on the graph, it is evident that gas fees, the number of users, and the number of transactions on the Optimism platform have increased since July 2022. This trend indicates that the platform has gained popularity and usage over time. It is likely that this growth is not just a temporary spike since the numbers are consistently above the 50-week moving average. The most significant increase can be seen in the number of active users, which has increased from 19,000 daily to more than 60,000 in this time period. As a result of the increased engagement, the platform has provided greater value to its users than ever. Overall, the graph indicates that Optimism is a successful and growing platform with increasing usage and engagement from its users. This bodes well for the platform's future.

Analysis II:

In the second analysis, we are going to find out Polygon blockchain activity over the time.

Observations:

Over the past year, Google searches for Polygon have declined consistently, with a decline of over 80%. This suggests that the public's interest in the platform may be decreasing. Additionally, the graph also indicates that transaction fees and gas fees on the Polygon platform have decreased slightly over the last year.

According to Google search data, this decline in activity may be related to a decrease in interest in the platform. However, the graph also indicates that Polygon's active users were declining until September, but have since increased by about 200%.

Despite the decline in interest and activity on the platform, user engagement has increased, indicating the platform may still be retaining its user base. Despite the decline in interest and activity on Polygon, the platform has a loyal following. Further research is needed to understand why this is happening and what can be done about it.

Analysis III:

In the third analysis, we are going to find out Arbitrum Blockchain activity over the time.

Observations:

As shown by the graph provided, Arbitrum users and transactions have increased. Despite the decrease in Google searches, it appears that Arbitrum usage is increasing rapidly, particularly toward the end of 2022, but has also increased by a small amount since the beginning of the year.

Despite the decrease in awareness of Arbitrum among the general public, usage among those who are aware of it appears to have increased. This might be due to the network's unique features or solutions that are attracting more users to it.

Also worth noting is that the increasing number of users and transactions on the network could indicate an increase in activity and usage, which is consistent with the increasing number of users. Considering that Arbitrum is becoming more widely adopted and utilized, this could be viewed as a sign of its future.

Nevertheless, the Arbitrum network is still relatively new, and it is unclear what long-term effects these trends will have. Further research should be conducted to understand the underlying causes of these trends and their potential implications for Arbitrum and the blockchain ecosystem in general.

Analysis IV:

In the fourth analysis, we are going to find out Top Ethereum L2 transactions count on daily basis

To Conclude:

A comprehensive analysis of Ethereum layer-2 networks, including Polygon, Arbitrum, and Optimism, provides an overview of their growth and usage in recent months. Based on our findings, it appears that the number of active users, volume traded, and gas fees have been consistently increasing, suggesting a steady increase in usage.

With consistent growth in gas fees, number of users, and transactions since July 2022, Optimism stands out as the clear winner. The platform has become a go-to solution for its users and is gaining popularity. This growth is consistent with the 50-week moving average, indicating that it is not just a temporary spike but a sustained one.

Polygon, on the other hand, seems to be experiencing a slight decrease in transactions and gas fees, as well as a significant decrease in Google searches over the past year. The increase of active users by about 200% suggests, however, that the platform continues to have a dedicated user base that continues to find value in its offerings, despite the overall decline in interest in the platform.

As a result of a decrease in Google searches, the number of users and transactions on Bitcoin increased noticeably. In this case, even though awareness of the network has decreased among the general public, use of it has increased among those who know about it. In conclusion, our analysis indicates that the trend of growth in Ethereum layer-2 networks appears to be due to its unique features and solutions.

Thank you @flipsideCrypto and @metricsDao

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