Arbitrum Leads the Pack
If you’ve been keeping an eye on Layer 2 solutions, you’ll be interested to know that CoinGecko’s Nov. 9 report shows Arbitrum as the leading option. In October, it had a total value locked (TVL) of $1.79 billion, claiming 41.2% of the top 10 L2 solutions market share. While this is down from its peak of $2.6 billion in May 2023, it’s still an impressive figure.
Polygon Secures Second Place
Polygon comes in second after Arbitrum, with a TVL of $0.78 billion in October. In February 2023, it reached its yearly peak of $1.18 billion after undergoing a V0.3.1 Hardfork upgrade in January 2023 to address gas spikes and reorganizations for the chain.
Community Participation in Arbitrum
The Arbitrum Citizens Retrofunding Round 1 is aimed at distributing 100,000 ARB to Arbinauts who have actively influenced the governance and processes of the Arbitrum DAO.
Hot Take: Layer 2 Solutions Market Share
Layer 2 solutions are gaining traction, with Arbitrum leading the way and Polygon following closely behind. The community’s active involvement in shaping these platforms shows promising signs for their future development and adoption.
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