The Kraken Layer-2 network Ink has seen a significant spike in activity, with transaction counts exceeding 550,000. This surge followed the announcement of an upcoming INK token.
Growth of Activity on Ink Network
According to Dune Analytics data, the daily transaction volume on the Ink network has increased significantly over the past week, hitting 557,557 for the first time on June 18, the day after the INK token was announced. Subsequent days saw continued high volumes, peaking at 563,677 transactions on June 20. The 30-day moving average now stands at over 490,000 transactions.
Expectations Surrounding the INK Token
The anticipated airdrop may serve as the catalyst Ink needs. Although the token launch date is yet to be confirmed, the announcement has already attracted more users. The inaugural function of the token will be the introduction of a liquidity protocol, which is intended to be a foundational component of the DeFi ecosystem on Ink. However, many details regarding this initiative remain unclear.
New Milestones for Ethereum
Meanwhile, Ethereum has reached a new all-time high in active addresses, with over 20 million interactions last week. Layer-2 networks accounted for 87.55% of these addresses. Specifically, the Base network recently achieved a new peak with 3.59 million addresses and 8.74 million transactions.
Overall, the activity on the Ink network shows positive trends despite several challenges ahead. The upcoming launch of the INK token and the successful metrics of other networks, like Ethereum, create a context for further development of the solution.
