On August 6th, according to The Block, the number of transactions on the Ethereum network has dropped to a five-month low, the seven-day moving average transaction volume has dropped to 1.12 million transactions per day, and the number of active wallet addresses has also dropped to about 400,000. However, this does not mean that the Ethereum ecosystem is in trouble. On the contrary, there has been a significant increase in transaction activity for Layer 2 solutions. Coinbase's Layer 2 platform Base became the leader, with 3.83 million transactions. This transition could lead to more sustainable gas fees on the Ethereum main chain, making it more suitable for large transactions or key smart contract interactions, while also improving the efficiency of the use of base layer resources. However, this also raises questions about the long-term value proposition of ETH.