Ethereum Mainnet Daily Active Addresses Surge Past All Layer-2s: A Revealing 2025 Analysis
In a significant shift for blockchain network dynamics, the Ethereum mainnet has decisively reclaimed its position, with its daily active addresses now surpassing the combined activity of all major layer-2 scaling solutions as of January 2025. This development, occurring against a backdrop of historically low transaction fees, presents a complex narrative that intertwines genuine user adoption with emerging security threats, fundamentally reshaping our understanding of on-chain activity metrics.
Ethereum Mainnet Activity: The January 2025 Surge
Data analytics platform Token Terminal reported a notable “return to mainnet” in early 2025. Consequently, daily active addresses on the Ethereum Layer-1 blockchain consistently outranked leading layer-2 networks throughout January. Specifically, Etherscan data shows a dramatic spike to approximately 1.3 million active addresses on January 16. Although this figure has since normalized to around 945,000 daily addresses, it remains substantially higher than the activity on individual layer-2 chains like Arbitrum One, Base Chain, and OP Mainnet. This resurgence coincides directly with the successful implementation of the Fusaka upgrade in December 2024, which drastically reduced average gas fees, making mainnet transactions more economically viable for a broader user base.
Meanwhile, the total value secured (TVS) across all layer-2 networks tells a different story. According to L2Beat, this metric currently stands at $45 billion, reflecting a 17% decline over the past twelve months. This divergence between user address activity and capital deployment highlights the nuanced, multi-faceted nature of blockchain ecosystem health. Analysts now scrutinize whether this represents a sustainable migration of users back to the base layer or a temporary phenomenon fueled by external factors.
The Shadow of Address Poisoning Attacks
Security researchers, however, urge caution in interpreting this activity spike as purely organic growth. Blockchain security firm Cyvers provided Crypto News Insights with a detailed analysis on Wednesday, January 22, 2025. Their analysts stated, “Behavioral classification and statistical correlation strongly suggest that address poisoning is not a marginal factor, but a significant contributor to the recent rise in Ethereum transaction volume.” This assessment aligns with observations from independent security researcher Andrey Sergeenkov, who earlier highlighted the potential link.
Understanding the Attack Vector
Address poisoning, also known as dusting attacks, involves a deceptive practice where scammers send negligible-value transactions from wallet addresses crafted to closely resemble a victim’s legitimate address. The primary goal is to trick users into accidentally copying the fraudulent address from their transaction history when initiating a future payment, thereby sending funds directly to the scammer. The recent slump in Ethereum network fees, a direct result of the Fusaka upgrade, has made this spam tactic economically viable on an unprecedented scale. Attackers can now execute thousands of these poisoning transactions for minimal cost, artificially inflating network activity metrics while creating a tangible risk for unsuspecting users.
This revelation necessitates a more sophisticated analysis of on-chain data. Metrics must now differentiate between genuine user interactions and malicious, automated transactions designed to pollute the ledger. The Ethereum community and analytics platforms face the challenge of developing more robust filters to present a clearer picture of true network adoption and health.
Ethereum’s Enduring Dominance in Asset Tokenization
Despite the potential distortion from inauthentic activity, Ethereum’s foundational role in the digital asset economy remains unchallenged. A report from ARK Invest on January 22, 2025, reaffirmed that Ethereum “remains the preferred blockchain for on-chain assets.” The total value of assets on the Ethereum blockchain now exceeds $400 billion. Furthermore, the firm projected that the global market for tokenized real-world assets (RWAs) could surpass $11 trillion by 2030, with Ethereum positioned as the primary settlement layer.
Data from RWA.xyz substantiates this dominance. Ethereum commands a 56% share of all on-chain stablecoins, the cornerstone of DeFi and digital payments. Moreover, when including assets bridged to and from layer-2 networks, Ethereum’s share of all tokenized real-world assets reaches an impressive 66%. This underscores a critical trend: while user activity for certain applications may migrate to scaling solutions, Ethereum mainnet continues to serve as the ultimate security anchor and reserve layer for high-value digital and tokenized assets.
- Stablecoin Supremacy: Ethereum hosts the majority of USDT, USDC, and DAI in circulation.
- RWA Hub: Tokenized treasury bonds, real estate, and commodities predominantly settle on Ethereum.
- Security Model: Institutional actors prioritize Ethereum’s battle-tested proof-of-stake security for high-value settlements.
The Layer-2 Landscape: Adaptation and Specialization
The recent data does not signal a failure of layer-2 scaling solutions but rather points to their evolving specialization. Networks like Arbitrum and Optimism have cultivated vibrant ecosystems for specific use cases—particularly decentralized gaming, high-frequency trading, and social applications—where ultra-low fees are non-negotiable. Their growth is now measured not just in raw address counts, but in contract deployments, developer activity, and niche adoption. The decline in total value secured (TVS) may reflect a maturation phase where capital efficiency improves, or a temporary rotation of liquidity back to the mainnet to capitalize on new opportunities or lower fees.
Conclusion
The event where Ethereum mainnet daily active addresses surpass all layer-2s marks a pivotal moment in the blockchain’s evolution. It demonstrates the immediate impact of successful technical upgrades like Fusaka in revitalizing base layer activity. Simultaneously, it exposes the increasing sophistication of on-chain threats like address poisoning, which can distort vital metrics. For investors, developers, and analysts, the key takeaway is the need for layered analysis. While Ethereum reaffirms its supremacy as the secure settlement layer for high-value assets, the ecosystem’s health is a multi-variable equation balancing genuine adoption, security, and the specialized growth of its scaling offspring. The narrative for 2025 will be defined by how the network and its community navigate this complexity.
FAQs
Q1: What does it mean that Ethereum mainnet daily active addresses surpass layer-2 networks?
It means that in January 2025, the number of unique addresses interacting with the base Ethereum blockchain each day exceeded the daily active addresses on individual scaling networks like Arbitrum and Base. This indicates a shift in where user transactions are occurring, potentially due to lower mainnet fees.
Q2: What is an address poisoning attack?
Address poisoning is a scam where attackers send tiny, worthless transactions from addresses that look very similar to a user’s real address. The goal is to clutter the victim’s transaction history so they might accidentally copy the fake address later and send funds to the scammer.
Q3: How did the Fusaka upgrade affect Ethereum activity?
Implemented in December 2024, the Fusaka upgrade successfully reduced Ethereum’s gas fees dramatically. This made conducting transactions on the mainnet significantly cheaper, which likely contributed to the increase in daily active addresses by making it more economical for users and, unfortunately, for spammers.
Q4: If activity is high, why is the value on layer-2 networks down?
The Total Value Secured (TVS) on layer-2s is down 17% year-over-year to $45 billion. This suggests that while the number of interacting addresses on the mainnet has grown, a significant portion of capital has either moved back to the mainnet or been deployed elsewhere, highlighting a distinction between user count and capital allocation.
Q5: Does Ethereum still dominate in tokenized assets?
Yes, absolutely. Reports confirm Ethereum remains the leading blockchain for on-chain assets, hosting over $400 billion in value. It holds a 56% share of all stablecoins and a 66% share of tokenized real-world assets when layer-2s are included, solidifying its role as the premier settlement layer.
