Introduction

This dashboard provides an analysis of three Ethereum layer-2 networks - Polygon, Arbitrum, and Optimism. Recent trends in the crypto market indicate explosive growth in L2 networks, with a notable increase in daily active users, volume traded, and more. The analysis of the graphs shows the performance and growth of each network over the past year. The data suggests that Arbitrum network has been rapidly increasing in usage, with steady growth in a number of users and transactions despite a decrease in Google searches. Optimism platform has shown an upward trend in gas fees, number of users, and transactions, indicating its growing popularity and success. On the other hand, Polygon is facing a decline in interest and activity but still has a dedicated user base. The dashboard provides valuable insights into the growth and performance of these networks and helps to understand their future potential.

Methodology:

1. Data Collection: The data used in this dashboard was collected from flipside crypto blockchain data
2. Data Cleaning: The collected data was cleaned and preprocessed to ensure its accuracy and consistency. Outliers and irrelevant data were removed to ensure the validity of the results.
3. Data Analysis: The data was analyzed using various statistical techniques such as moving averages, and trend analysis to understand the trends and patterns in the data.
4. Data Visualization: The analyzed data was visualized using line graphs and bar charts to present the results in a clear and concise manner. The visualizations were designed to provide a clear understanding of the trends and patterns in the data.

The methodology used in this dashboard was designed to provide a comprehensive and accurate analysis of the performance and growth of Ethereum layer-2 networks. The results of this dashboard are intended to provide insights into the trends and patterns in the data and should be used as a starting point for further research and analysis.

Arbitrum blockchain activity

Analysis

The analysis of the provided graph shows an increase in number of users and transactions on the Arbitrum network. Despite the decrease in Google searches, it appears that the usage of the Arbitrum network has been increasing rapidly, especially at the end of 2022, but also traced back a small amount since the start of the year.This trend could suggest that while awareness of Arbitrum among the general public may have decreased, usage of the network among those who are aware of it has been increasing. This could be due to the network's unique features or solutions it provides that attract more and more users. It's also worth noting that the increase in users and transactions on the network might indicate an increase in activity and usage, which is consistent with the growing number of users. This could be seen as a positive sign for the future of the Arbitrum network, as it suggests that the network is becoming more widely adopted and utilized. However, it's worth considering that the Arbitrum network is still relatively new, and it's not clear what the long-term implications of these trends will be. Further research should be conducted to understand the underlying causes of these trends and their potential implications for the Arbitrum network and the broader blockchain ecosystem.

Optimism blockchain activity

Analysis

The analysis of the graph shows a clear upward trend in gas fees, number of users, and number of transactions on the Optimism platform since July 2022. This trend indicates that the platform has been gaining popularity and usage over time. The fact that the numbers are consistently above the 50-week moving average suggests that this growth is sustainable and not just a temporary spike. The most significant increase can be seen in the number of active users, which has grown from 19,000 daily to over 60,000 in this time period. This represents a more than threefold increase in user engagement and suggests that the platform is providing value to its users. Overall, the graph suggests that Optimism is a growing and successful platform that is seeing increasing usage and engagement from its users. This bodes well for the future of the platform and its continued success.

Conclusion

The analysis of Ethereum layer-2 networks, such as Polygon, Arbitrum, and Optimism, provides a comprehensive overview of the growth and usage patterns of these networks over the past couple of months. Our findings show a significant increase in the number of active users, volume traded, and gas fees, suggesting that the utilization of these networks has been on a steady rise. The Optimism network stands out as a clear winner, with its consistent upward trend in gas fees, number of users, and transactions since July 2022. This indicates that the platform is gaining popularity and has become a go-to solution for its users. The numbers are consistently above the 50-week moving average, indicating that this growth is sustainable and not just a temporary spike. On the other hand, Polygon seems to be facing a slight decline in transactions and gas fees, coupled with a significant decrease in Google searches for the platform over the past year. This suggests that the overall interest in the platform may be on a downward trajectory. However, the increase in active users by about 200% suggests that the platform still has a dedicated user base that continues to find value in its offerings. Arbitrum showed a notable increase in the number of users and transactions on the network, despite a decrease in Google searches. This could mean that while awareness of the network among the general public may have decreased, usage of the network among those who are aware of it has been on the rise. This could be due to the network's unique features and solutions that attract more and more users. In conclusion, our analysis shows that the trend of growth in Ethereum layer-2 networks is set to continue in 2023. The Optimism network is poised for continued success, while Polygon and Arbitrum may face some challenges in terms of overall interest and activity.

Polygon blockchain activity

Analysis

The analysis of the graph shows a consistent decline in Google searches for Polygon over the past year, with a decrease of over 80%. This suggests that interest in the platform may be decreasing among the general public. In addition, the graph also shows a slight downward trend in transactions and gas fees on the Polygon platform over the past year. This decline in activity on the platform could be related to the decline in interest as indicated by the Google search data. However, the graph also shows that active users on Polygon were declining until September and have since increased by about 200%. This increase in user engagement is in contrast to the decline in interest and activity on the platform, suggesting that the platform may still be retaining its user base despite the decline in overall interest. Overall, the graph suggests that Polygon is facing a decline in interest and activity on the platform, but still has a dedicated user base. Further research would be needed to understand why the decline in interest and activity is happening, and how it can be addressed.