Ethereum’s layer-2 projects are booming, according to analytics firm IntoTheBlock. Since the start of 2024, transaction volumes on Ethereum L2s have soared by 91%.
Crypto Assets Leaving Centralized Exchanges
Both Ethereum (ETH) and Bitcoin (BTC) continue to flow out of centralized exchanges. IntoTheBlock reports that $906 million worth of ETH left exchanges last week, marking the eighth consecutive week of net outflows. The firm interprets this as a bullish sign for crypto assets.
Bitcoin also saw $797 million in net outflows from exchanges last week. At the time of writing, BTC is trading at $62,703, up nearly 23% in the past week and 42% since the start of the year.
ETH is currently trading at $3,445, up 17% in the past week and 46% since the beginning of 2024.
