An All-Time Record for TVL Set on Arbitrum One Platform
An all-time record for Total Value Locked (TVL) was recently achieved on the Arbitrum One platform. According to L2Beat, the TVL of Arbitrum, a Layer 2 solution for the Ethereum network, has reached a record value of $10.18 billion, with a growth rate of 15% in the last 24 hours.
Optimism Protocol Trails Behind
The Optimism protocol takes second place with a TVL of $6.34 billion, which is nearly 40% less than Arbitrum. In the past 24 hours, the protocol has seen a significant increase in TVL by 11.63%. Metis secures the third position, but it is worth noting that a proof system is currently under development.
Other Top Protocols by TVL
Base and zkSync Era are also among the top five protocols by TVL, with $636 million and $569 million respectively.
Majority of TVL Concentrated in Top Three Blockchains
The combined TVL volume of the top three blockchains on the list accounts for more than 82% of the total. Other second-tier networks in the top 10 include Manta Pacific, dYdX, Mantle, Immutable X, and Line.
Arbitrum’s Previous Achievements
In November 2023, CoinGecko analysts ranked Arbitrum as the leading L2 network in terms of blocked funds volume in smart contracts, reaching $1.79 billion. Additionally, in May 2023, Arbitrum’s second-level network set a record level of $2.6 billion. However, analysts at that time identified Coinbase’s Base as the fastest-growing tier 2 solution.
Hot Take: Arbitrum One Breaks TVL Record, Setting the Pace for Layer 2 Solutions
An all-time high TVL of $10.18 billion on the Arbitrum One platform showcases its dominance in the Layer 2 space. With a growth rate of 15% in the last 24 hours, Arbitrum outperforms its competitors, with Optimism trailing behind at $6.34 billion TVL. As more projects and users flock to these Layer 2 solutions, the scalability and speed of Ethereum’s network are greatly enhanced. The continuous development and improvement of proof systems ensure a promising future for these protocols. Arbitrum’s consistent achievements solidify its position as a leading L2 network.
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