Record High: Ethereum Layer-2 Total Value Locked Surpasses $21 Billion

The Value of Ethereum Second-Layer Networks Surpasses $20 Billion

The total value of locked assets (TVL) in Ethereum (ETH) second-layer networks has surpassed $20 billion, reaching a new milestone for Ethereum-based layer-2s.

Continued Growth in Tier 2 TVL

Tier 2 TVL has increased by 33% in the past month and currently stands at $20.4 billion, close to its peak. Over the past year, L2 TVL has grown by an impressive 333%, starting from around $4.8 billion in January 2023.

DeFi Market Comparison

In comparison, DeFi markets have only grown by 38% in terms of TVL over the same period, according to DeFiLlama.

Market Leaders in Second-Layer Networks

Arbitrum One remains the market leader with approximately $10 billion in TVL, accounting for nearly 50% of the market share. Optimism (OP Mainnet) ranks second with $5.8 billion TVL and a 28.7% market share.

Smaller Tier 2 Platforms

The remaining Tier 2 platforms have relatively smaller TVLs. Metis Andromeda and Base hold third and fourth place respectively, with each having a TVL worth around $750 million.

Record-Breaking TVL for Arbitrum One

Earlier this week, Arbitrum One’s TVL exceeded $10 billion, setting a new record. However, it currently stands at around $10.05 billion.

Growing Interest in DeFi

The global decentralized finance (defi) TVL reached $55.34 billion at the beginning of 2024, indicating a growing interest in the sector.

Hot Take: Ethereum Layer-2 Networks Experience Surge in TVL

The total value of locked assets in Ethereum second-layer networks has surpassed $20 billion, marking a significant milestone for the ecosystem. With Tier 2 TVL increasing by 33% in the past month and L2 TVL growing by an impressive 333% over the past year, it is clear that these layer-2 solutions are gaining traction. Market leaders such as Arbitrum One and Optimism continue to dominate, while smaller platforms also make their mark. The record-breaking TVL for Arbitrum One highlights the increasing popularity of layer-2 networks. As interest in decentralized finance continues to grow, we can expect further developments and innovations in this space.