Layer 2 Networks: Trading Volume Surges Amidst June TVL Decline

IconCryptoNewsTerminal Staff04 Jul, 2024

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Layer 2 Networks: Trading Volume Surges Amidst June TVL Decline

Despite a decrease in Layer 2 total value locked (TVL) by 8.8% in June, trading volume increased by 7.8%, according to data analyzed by The Block via X. Layer 2 gas spent also witnessed a significant surge of 19.2%, while transactions rose by 6.2%. However, revenue for Layer 2 operators declined due to falling gas fees and increased competition. This trend highlights the growing adoption of Layer 2 solutions, despite market headwinds.