Arbitrum's TVL jumped to $1.5 billion Ethereum Arbitrum One | DeFI News & Alerts

Arbitrum's TVL jumped to $1.5 billion

Ethereum Arbitrum One's convolution-based second-tier network for scaling is starting to see significant growth, with its total locked-in value (TVL) surging about 2,300% last week.

According to L2beat, an analytics platform for comparing Layer 2 protocols, TVL on Arbitrum recorded an ATH of $1.5 billion on Sept. 11, when DeFi enthusiasts rushed to invest in launching DApps early in development on the network.

Off-chain Labs launched Arbitrum's core network (ARB) after a $120 million funding round on Aug. 31. Since then, Ethereum transaction fees have risen to near-record levels, leading to a migration of liquidity to Layer 2 scaling solutions and competing Layer 1 solutions.