July Layer 2 Landscape Recap

The on-chain activity on layer 2s (L2s) in July was mainly characterized by the soft launch of Base, as well as Worldcoin’s official launch on OP Mainnet towards the second half of the month. Aside from these two notable launches, July was a moderately positive month for most rollups, with noticeable upticks in either total value locked (TVL) or gas consumed. That said, the market capitalizations of most L2 tokens were relatively stagnant, with only a noticeable surge for OP. 

The most notable trend in July would be the sustained revenue that optimistic rollups (ORs) are generating despite the ongoing bear market. Aside from that, Polygon zkEVM is also starting to create a steady revenue stream from its continued operation.