According to L2Beat data, driven by the growth of networks such as Xai, Base, and Proof of Play, Ethereum L2 transaction volume hit an all-time high on August 7, averaging 318 transactions per second. The Ethereum scaling solution now handles 24 times more transactions than the underlying Ethereum chain. In addition, L2 solutions including Base, Arbitrum, Blast, Optimism, and Mantle together accounted for $11.70 billion of native TVL, or $36.70 billion if bridge deposits are included.