A greater TVL indicates an increasing confidence between users and developers. On August 4, the main layer next to the L2 marked ATH in transactions per second. While Ether (ETH) remains quoting around USD 4.250, the Ethereum Network shows on-chain indicators on the rise. In recent days, the amount of transactions and the total locked value (TVL) marked record levels. On August 9, the base layer (L1) of Ethereum recorded more than 1.7 million transactions in one daythe highest figure since its creation, according to the Grow the Pie site, as seen in the following image:
«The number of network transactions. We only count the transactions executed by users and intelligent contracts and not system operations ». Source: Grow the Pie / X. A new historical maximum (ATH) in this indicator suggests greater use of the networkproduct of the increase in volume in decentralized applications (DAPPS) and decentralized finance (DEFI). Cryptonotics reported on August 4 that the Ethereum ecosystem, the L1 next to the second layers (L2), They touched the AH in transactions per second (TPS), with 300 TPS.
TVL above the USD 300 billion
Ethereum's total blocked
The amount of value blocked in the network exceeded 300 billion dollars. Source: Token terminal. The TVL measures the amount of assets deposited in intelligent contracts, either to provide liquidity, participate in loan protocols or perform staking. A sustained increase in this metric can indicate Users and developers confidence in the ecosystemsince these funds usually remain blocked by periods defined in the applications where they are used. These Picos in activity and capital deposited, together with the price of the asset at high levels, draw a scenario in which Ethereum continues to consolidate its position as a central protocol of the cryptocurrency ecosystem, only behind Bitcoin.