Ethereum Layer 2 TVL Up 19% in 7 Days, Hits $45 Billion
CryptoNewsTerminal Staff22 May, 2024
Ethereum Layer 2 TVL Up 19% in 7 Days, Hits $45 Billion
Ethereum Layer 2 (L2) protocols have seen a surge in activity, with the total value locked (TVL) increasing by 19.49% over the past 7 days. As per L2Beat data, the current TVL of Ethereum L2 stands at $44.98 billion. The top 5 L2 networks based on TVL are: - Arbitrum One: $18.52 billion - OP Mainnet: $7.67 billion - Base: $6.48 billion - Blase: $3.17 billion - Mantle: $1.27 billion Arbitrum One, the leading L2 solution, has seen a significant increase in TVL, driven by the launch of new DeFi and NFT projects on its network. Other L2s have also witnessed growth, as developers take advantage of their scalability and cost-effectiveness compared to the Ethereum mainnet. The growth of Ethereum L2s is expected to continue as the ecosystem matures and more users migrate to these solutions. The increased adoption of L2s will help to reduce congestion on the Ethereum mainnet, while also providing developers with a more scalable and cost-effective platform for building dApps.
