Since June 2025, the number of Ethereum Layer 2 solutions with TVS exceeding $100,000 has decreased from 108 to 100, despite the launch of new protocols. This was noted by researchers at growthepie.
In the past 10 months, 21 projects have closed. Among them are Katana, Lasernet, Pentagon Chain, Pepe Unchained, Arena-Z, OEV Network, Term Structure, Aleph ZEro EVM, Edgeless, LaChain, SnaxChain, SuperLumio, Haust Network, Capx, Hala, Mega ETH, Form, ADI Chain, Nillion, and Immutable X.
“There is a consolidation of Layer 2 networks. […] It should be noted that new L2s are being deployed, but we are witnessing a significant reduction in the number of older protocols,” the analysts noted.
Simultaneously, there is a slowdown in the Ethereum application sector. Their number has decreased from a peak of 639 last year to 490 currently.
Despite the negative trend, activity in the dapps sector has increased as market leaders strengthen their positions, noted growthepie. Experts believe consolidation is a normal phenomenon, and the current wave is “the first of many.”
Overall Ethereum metrics show a recovery in on-chain activity after last autumn’s decline. On March 18, the daily number of transactions on the blockchain reached 2.6 million.
The number of unique wallets on the network has nearly reached 400 million.
In February, Ethereum’s founder Vitalik Buterin stated that the original concept of L2 had lost its relevance and proposed a new model for ecosystem development.
