Activity Stagnates Post-Merge Ethereum, Sidechain on Losing Side
Ethereum pulled off a stunning technical upgrade that saw the popular blockchain transition to the proof-of-stake consensus model for processing transactions after six years of work. However, post-merge activity on layer-2 has dropped. According to the latest stats by Dapp Radar, the already descending unique active wallets and transactions have further dropped by 35% from August to September.
The sidechain protocol known for executing cheaper fees and much faster transaction rates also saw the same descending trend as Ethereum. The FOMO-fueled pre-Merge enthusiasm pushed transactions by 6.5% and unique active wallets (UAW) by 4% higher from June to August 2022 on Polygon. Another Ethereum sidechain, Ronin, which also happens to be the backbone of Axie Infinity, suffered a similar fate. Its transactions count and unique active wallets were down by 51% and 54%, respectively, from August 2022.
Source
https://t.me/DeFi_Ethereum
