Ethereum’s on-chain activity has eclipsed leading layer-2 networks as gas fees remain comparatively low, signaling renewed user engagement on the mainnet. Yet observers caution that not all of the activity may be organic, with security researchers pointing to dusting and address-poisoning campaigns as possible drivers behind a portion of the spike.
Ethereum’s mainnet daily active addresses now outpace Arbitrum One, Base Chain, and OP Mainnet, aided by a December upgrade that significantly lowers fees.
Layer-2s collectively secure about $45 billion in value, a figure down roughly 17% year over year, underscoring a shifting dynamic between mainnet and rollups.
Analysts emphasize that the surge in activity could reflect non-authentic interactions, including address poisoning campaigns that exploit low fees to spam the network.
Despite the noise, Ethereum remains the dominant platform for on-chain asset tokenization, with a multi-trillion-dollar potential forecast for the broader market.
Tickers mentioned: $ETH
Sentiment: Neutral
Price impact: Neutral. On-chain activity is not yet translating into a clear directional price signal.
Trading idea (Not Financial Advice): Hold. Monitor on-chain activity for signs of sustained engagement versus ephemeral spikes.
Market context: The shift toward mainnet activity and on-chain asset tokenization continues to shape the crypto landscape amid evolving fee dynamics and security considerations.
Address poisoning attacks spike
Security researcher Andrey Sergeenkov noted that the recent rise in Ethereum network activity could be partly driven by dusting or address-poisoning campaigns.
Address poisoning involves scammers sending small transactions from wallet addresses that resemble legitimate ones, prompting users to copy the wrong address when making a transfer. The current low-fee environment has made such tactics economically viable, potentially inflating activity figures without corresponding real user engagement.
“It’s reasonable to conclude that the recent spike in Ethereum network activity is being materially driven by address-poisoning campaigns,” analysts at blockchain security firm Cyvers told researchers this week. They added that behavioral classification and statistical correlation strongly suggest that address-poisoning is a significant contributor to the observed transaction volume.
Ethereum still king for asset tokenization
Regardless of the spurious activity, Ethereum remains the preferred blockchain for on-chain assets. ARK Invest highlighted in a recent briefing that assets on Ethereum exceed $400 billion, with the global market for tokenized assets projected to surpass $11 trillion by 2030.
Stablecoins comprise the bulk of these assets, with Ethereum commanding a 56% share of stablecoins on-chain. When layer-2 networks are included, Ethereum accounts for about two-thirds of all tokenized real-world assets, according to RWA.xyz.
This article was originally published as Ethereum Mainnet Activity Outpaces All Layer-2 Networks on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
ETH 15-minute drop of 0.69%: Price pressure from declining burn volume and short-term capital arbitrage
2026-04-09 18:00 to 2026-04-09 18:15 (UTC), ETH closed down 0.69% within a 0.88% intraday trading range, with the price fluctuating between 2203.91 and 2223.58 USDT. Trading volume in this range rose slightly, market attention stayed high, but short-term volatility increased, prompting investor caution.
The main drivers behind this unusual move are that ETH on-chain Gas fees have fallen to historical lows, causing the EIP-1559 burn amount to decline. As a result, the net-supply contraction effect weakened, and the supply-demand structure faced adjustment pressure in the short term. Meanwhile,
GateNews1h ago
ETH 15-minute pump of 0.71%: spot marginal buy pressure amplifies liquidity, pushing the short-term move higher
2026-04-09 17:00 to 2026-04-09 17:15 (UTC), the ETH price fluctuated in the range of 2207.09 to 2224.42 USDT, recording a positive return of +0.71%, with an amplitude of 0.78%. The short-term price increase attracted market attention. Although overall sentiment remains relatively cautious, volatility in the spot market has increased.
The main driving force behind this move was that the spot market saw marginal active buy orders amid a backdrop of tighter derivatives conditions and an overall contraction in liquidity. As ETH perpetual contract open interest and trading volume both saw a clear decline (within 24 hours, it c
GateNews2h ago
ETH 15-minute pump 1.31%: On-chain capital inflows and whale buying power are in sync, driving the rally
2026-04-09 15:30 to 2026-04-09 15:45 (UTC), the ETH price closed at 2219.86 USDT, with a range low of 2181.68 USDT. The 15-minute return was +1.31%, and the amplitude was 1.75%. During this period, market trading activity was active, attention increased significantly, and short-term volatility intensified.
The main drivers of this unusual move are on-chain capital inflows and persistent buying by large whales. First, on-chain trading volume suddenly surged during the window above; the frequency of large transfers increased, indicating that institutions or major players entered quickly. At the same time, active addresses
GateNews3h ago
Bitcoin ETF Sees $159.62M Single-Day Outflow While Ethereum and Solana ETFs Continue Negative Trend
Gate News message, according to April 9 data, Bitcoin ETFs recorded a single-day net outflow of 2,242 BTC (valued at $159.62M), while showing a 7-day net inflow of 2,723 BTC ($193.89M). Ethereum ETFs experienced a single-day net outflow of 23,158 ETH ($50.48M), with 7-day net outflows reaching 22,90
GateNews4h ago
Ethereum developer Joe Schiarizzi runs for Virginia congressional seat as a Democrat
Gate News update: On April 9, Ethereum developer Joe Schiarizzi is running for Congress in Virginia as a Democrat. Joe Schiarizzi says he is against Trump and argues that cryptocurrencies should focus on public-interest use cases, not be used for political profit. He also criticizes some lawmakers who support cryptocurrencies as opportunists, saying these people have no real interest in the underlying crypto technology.
GateNews4h ago
Grayscale transferred 5,322 ETH and 155.649 BTC to a certain CEX, with a total value of over $22 million
Gate News update, April 9. Arkham monitoring shows that about an hour ago, Grayscale transferred a total of 5,322 ETH (worth $11.6 million) and 155.649 BTC (worth $11.07 million) to a certain CEX Prime address.
GateNews5h ago
