<div id="readability-page-1"><ul><li>Soneium Testnet’s number of transactions exceeded 3 million.</li><li>In the meantime, top L2s like ARB and OP turned bullish.</li></ul>Popular Japanese technology company Sony has now entered the blockchain space with its latest Ethereum [ETH] L2, Soneium. The latest launch created buzz in the community, making Soneium one of the most talked-about topics in the space.<h2>Sonerium in the limelight</h2>Sony announced the launch of its ETH L2 on the 23rd of August. As per the official statement, Soneium is the infrastructure network that forms the basis of Web3. The goal of this new blockchain platform is to popularize blockchain technology and accelerate Web3 innovation. The official announcement mentioned, <blockquote>“In the future, we will explore and develop a plan to make the network available to the public and aim to create new services by leveraging the various businesses and IP within the Sony Group so that Soneium becomes an infrastructure that everyone can use on a daily basis.” </blockquote>Applications that work with Soneium’s network will let end users access the platform and engage with services relating to entertainment, Web3 gaming, and NFT marketplaces offered by individual apps. Soon after the launch, the L2 gained much popularity. This was evident from the rise in mentions as indicated by Google Trends data on the worldwide level last week.<div id="attachment_421853"><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-2.56.11PM.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="2278" height="688" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-2.56.11PM.png"/>Source: Google Trends</div>AMBCrypto then checked Sonium’s testnet stats to see how it’s performing. As per our analysis, the Soneium/Minato testnet had processed a total of over 1.3 million blocks. The testnet exceeded 3.3 million transactions and had over 200k wallets. At press time, its daily transactions stood at 123k, as per Explorer testnet.soneium.<div id="attachment_421855"><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-2.59.09PM.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="2476" height="412" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-2.59.09PM.png"/>Source: Explorer.testnet.soneium</div><h2>How are other L2s doing?</h2>Since Soneium was one of the latest additions to the thriving Ethereum L2 ecosystem, AMBCrypto planned to check how the top ETH L2s like Arbitrum [ARB] and Optimism [OP] were doing. To check that, we assessed Artemis’ data. As per our analysis, ARB continued to dominate OP in terms of both daily active addresses and daily transactions last month. However, despite having a major lead in network activity, ARB and OP’s fees and revenue graphs were closely knit. <div id="attachment_421856"><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-3.01.42PM.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="2340" height="896" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-3.01.42PM.png"/>Source: Artemis</div><hr/>Realistic or not, here’s ARB’s market cap in BTC’s terms<hr/>But OP did manage to outshine ARB on the price front last week. On one hand, OP registered a 7% weekly price hike, and on the other hand, ARB’s price only went up by 2%. At the time of writing, OP was trading at $1.47 with a market capitalization of over $1.7 billion. Arbitrum was valued at $0.518 with a market cap of over $1.8 billion.</div>

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Sony has launched its Ethereum L2, Soneium, which aims to enhance Web3 innovation. Launched on August 23, Soneium has processed over 3 million transactions and gained popularity in the blockchain space. Applications within the network will focus on entertainment, Web3 gaming, and NFT services. Meanwhile, other top L2s like Arbitrum (ARB) and Optimism (OP) have shown varied performance, with OP experiencing a 7% weekly price increase compared to ARB's 2%.

- Sony's latest Ethereum L2, Soneium, made waves in the blockchain community with its goal to promote blockchain tech and Web3 innovation. The platform aims to leverage Sony's businesses and IP to create user-friendly services for entertainment, gaming, and NFT marketplaces. Soneium's testnet processed over 3.3 million transactions and had 200k wallets, indicating a strong start.
- Comparatively, ARB outperformed OP in daily active addresses and transactions, but both had similar fee and revenue trends. However, OP saw a 7% weekly price increase, surpassing ARB's 2% rise. OP was trading at $1.47 with a market cap exceeding $1.7 billion, while ARB was valued at $0.518 with a market cap over $1.8 billion.

Sony’s Soneium: Crypto market impact post testnet launch