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Ethereum Layer 2 Networks Set New Record with 12.42M Daily Transactions

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Ethereum’s Layer 2s are bustling with activity. The latest data suggest that the ecosystem has reached a new record for daily transaction volume.

In fact, these networks were also found to hold now more stablecoins than Solana and Binance Chain combined.

Ethereum Layer 2 Ecosystem Growth

According to the stats compiled by Growthepie, the daily transactions across Ethereum’s Layer 2 ecosystem reached 12.42 million on August 12, setting a new peak.

Weighing on the new milestone, Leon Waidmann, head of research at the Onchain Foundation, also said that the figure highlights the rapid advancements in scalability, potentially driving user engagement to new heights.

Furthermore, Growthepie reported a 140% increase in daily transactions in the Layer 2 ecosystem year-to-date. It’s important to note that the analytics platform only includes user- or smart contract-executed transactions, excluding system transactions.

The Coinbase-incubated Layer 2 blockchain, Base, significantly contributed to this growth, surpassing 4 million transactions in July alone. This figure has now come down to 3.6 million, but Base has consistently managed to outperform Arbitrum, becoming the Ethereum Layer 2 network with the most transactions since early July.

Currently, Arbitrum’s transaction figure stands above 1.85 million followed by Optimism with around $476k.

Stablecoin and Wallet Activity

Growthepie further revealed the Layer 2 networks in the Ethereum ecosystem now surpass both Solana and Binance Chain in stablecoin holdings, with 150% more stablecoins than Solana and 94% more than BSC. Additionally, Layer 2s are also showing an edge in unique wallet activity, boasting over 4% more active addresses than Solana on a 7-day rolling average.

This combination of a larger stablecoin supply and increased wallet activity suggests a growing trust in L2 solutions.

These findings raise questions about investor sentiment and whether they are potentially overvaluing Solana or undervaluing L2s. Interestingly, Layer 2’s Fully Diluted Valuation (FDV) peaked around the time of EIP 4844, reaching nearly $95 billion – exceeding Solana’s FDV at the time – but has since decreased to $31 billion, now smaller than Solana’s.

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Capital B Acquires 126 BTC, Total Holdings Top 2,200

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The data & AI technology consulting company, now turned to treasury, has released a financial statement showcasing its most recent Bitcoin procurement.

Meanwhile, the crypto asset posted some gains over the weekend and, at the time of writing, is still riding the bullish wave.

The Acquisition

Listed on the Euronext Growth Paris ($ALCPB), Capital B (formerly the Blockchain Group), announced its most recent purchase via a press release earlier today.

The 126 bitcoins were purchased for approximately €12.4 million (~$ 14.4 M), bringing their total stash to 2,201, with an average purchase price of $106,770 per coin.

This aligns with their plan to have 3,000 BTC by the end of fiscal 2025, which falls on September 27th this year, and their overall goal of owning 1% of all Bitcoin by 2033. They started the acquisitions in early November last year and have achieved a Bitcoin yield of 1,519.5% year-to-date (YTD).

This is a metric that tracks the percentage change in the ratio of total BTC holdings to fully
diluted shares outstanding over a given period, or simply put, how much more of the asset is owned per potential share of stock.

They are currently ranked 24th on Bitcoin Treasuries, neck-and-neck with HIVE Digital Technologies, which also holds 2,201 BTC, and behind the 2,353 BTC that Microcloud Hologram currently holds.

Bitcoin Outlook

The largest cryptocurrency by market capitalization had a green Sunday, opening at $116,490 and closing the day at $119,310, representing a 2.42% increase. The wave continues into Monday, and at press time, the asset remains on the rise.

An interesting week is ahead of us, as per the US economic calendar, with CPI and PPI data being released, along with several other key indicators.

Bitcoin, like other volatile assets, tends to react to macroeconomic data, so its price could fluctuate depending on the numbers. The highly anticipated Fed meeting is also approaching, with just over a month to go until we hear whether a rate cut will be announced, which is another potential catalyst for price moves.

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A Modest One: Saylor’s Strategy Buys 155 BTC for $18 Million

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Strategy – the company founded by Michael Saylor – rarely skips a Monday without announcing a crypto purchase.

Today was no exception as the company revealed it had acquired the modest (for its standards) 155 BTC for roughly $18 million. The average price of the deal was around $116,401 per coin.

Over the past few months, the company has announced several more impressive deals. Towards the end of June, it bought 4,980 BTC for over $530 million, while a few weeks prior, it stunned the community with a multi-billion-dollar purchase. 

Strategy has achieved a BTC yield of 25% YTD 2025. It is the world’s biggest corporate holder of the primary cryptocurrency, and currently it has 628,946 BTC bought for approximately $46.09 billion.

Due to the price increase of the asset, the current value of the holdings now exceeds $75 billion, meaning the company is sitting on a paper profit of almost $30 billion. 

It is worth mentioning that Strategy began accumulating BTC exactly five years ago. Its initial purchase included 21,000 coins, valued at around $250 million. 

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Ethereum Dev Says Turkish Authorities Accused Him of Helping Others Misuse Ethereum

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An Ethereum developer pseudonymously known as “Fede’s Intern” claims to have been detained in Izmir, Turkey.

Authorities accuse him of helping others “misuse” the ETH blockchain network, a charge he strongly denies.

“Very Troubling”

The Argentinian developer, who focuses on ZK and Ethereum projects, said Turkey’s Minister of Interior accused him of facilitating Ethereum misuse and that he was confined to a room.

In posts on social media platform X, he maintained that he and his associates are “just infra builders” working transparently and in the open. Their business operations span more than a dozen industries across Europe and collaborations with governments.

He is linked to projects including Lambda Class and Aligned. According to his account, local authorities told his lawyer he could face charges, which prompted him to limit public comments and urge followers to contact associates who could speak on his behalf.

He claimed to have engaged senior contacts in over 10 countries, including the US, UAE, and various Asian nations, while friends from multiple jurisdictions have contacted Turkish officials.

Fede’s Intern expressed readiness to cooperate with Turkish authorities or any government, while asserting that neither he nor his companies were involved in illicit activity. He also added that he might soon contest the allegations from abroad. His latest update reads:

“I couldn’t leave yet. In theory in 3 hours I’m out. Once I land in Europe I will explain everything we know. Thanks for everyone helping me get out of here. They wanted to take my phone since they considered it a security risk but thanks to some friends calls they didn’t.”

Bankless co-founder Ryan Sean Adams called the situation “very troubling.” He noted that the story was still developing and questioned the optics for the Ethereum community, especially with Istanbul having been floated as a potential location for DevCon 2026.

Compliance and AML Vigilance

Turkey has significantly tightened oversight of its crypto sector. For instance, tougher Anti-Money Laundering (AML) rules came into effect on February 25, 2025. As such, all crypto transactions of more than 15,000 TRY would need user identification, and providers can curb or halt transactions deemed “risky.”

The Capital Markets Board (CMB) was given authority over crypto asset service providers (CASPs), including exchanges, custodians, and wallet services.

Since March 13, 2025, operators must obtain a license, meet capital requirements, which are around $4.1 million for exchanges, $13.7 million for custodians. In addition to that, operators must also integrate risk-management and compliance infrastructure, and submit frequent audits and transaction reports.

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