2024-03-07 16:33:37
Ethereum Layer-2 Platforms Now Manage Over $36.7 Billion in TVL Ethereum layer-2 scaling solutions are booming with total value locked (TVL), which refers to the amount of
assets staked or deposited across leading platforms like
Arbitrum, Optimism, and Base, exceeding $36.7 billion. According to L2Beat,
Arbitrum One, one of the earliest layer-2 solutions for Ethereum, has a TVL of $15.7 billion, nearly double that of its closest competitor, Optimism. This dominance is likely due to its first-mover advantage and security edge.
The spike in TVL in Ethereum
layer-2 platforms could suggest rising demand for
faster and cheaper transactions. Notably, the expansion in assets under management comes behind surging crypto and Ethereum prices. As of March 5, Ethereum was changing hands at approximately
$3,700. Though it has seen correction past 24 hours, the coin was up 13% in the previous
trading week. Others, including the ARB and OP, the native tokens of
Arbitrum and Optimism, respectively, have posted gains in recent weeks. ARB is trading at $2, up 6% in the last week. The token now has a market cap of over $2.5 billion, securing a slot in the top 50 most valuable coins, according to
CoinGecko data.
Layer-2 scaling solutions have gained traction over the past few years, with more
platforms launching. To illustrate, Blast and Base, two platforms
using optimistic rollups, recently launched but now have a TVL of over $2.7 billion and
$1.1 billion, respectively.
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