Ethereum layer 2 TVL value breaks record, surpasses $21 billion

While there haven't been huge spikes in the price of Ether, the growth in the layer-two ecosystem has been remarkable. Total lock-up (TVL) has increased by 330% in the last 1 year, reaching $21.16 billion and peaking.

Equal to DeFi TVL in 2021

According to research by L2beat, this figure is almost identical to the value of money that entered all DeFi protocols in January 2021, when cryptocurrency prices were much higher. In addition, the total increase in DeFi protocols was only 38% this year. The last one-month increase in tier 2 TVL is over 34%.

Arbitrum is the leader...

Arbitrum, which has been talked about a lot with its airdrop in 2023, has become the project with the most share of the layer 2 TVL. The value locked in Arbitrum, which has a share of about 50%, has reached $10 billion. In second place is Optimism, another rising star of recent times. The market share of this project is 28.7%, while the TVL is around $5.8 billion. Metis Andromeda and Base are in 3rd and 4th place. The TVL value of the two projects is far from the first two places and is around 750 million dollars each.

On the other hand, the number of active addresses, transaction fees, and the second-layer stablecoin market have also increased as well as TVL in the second layers.

Published: January 5, 2024 09:49

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)