You can check the website statistics yourself or request them from us at [email protected]
On this platform, only organic high-quality traffic
Bitcoin
$ 30,725

Ethereum Layer-2 Platforms Now Manage Over $36.7 Billion in TVL

The adoption of Ethereum layer-2 scaling solutions is surging, evidenced by the substantial Total Value Locked (TVL) surpassing $36.7 billion across leading platforms such as Arbitrum, Optimism, and Base.

Arbitrum One, an early player in the layer-2 landscape, boasts a TVL of $15.7 billion according to L2Beat, almost doubling that of its closest rival, Optimism. This dominance can be attributed to Arbitrum’s pioneering status and its perceived security advantages.

The significant increase in TVL across Ethereum layer-2 platforms indicates a growing demand for quicker and more cost-effective transactions. This expansion in assets under management aligns with the upward trajectory of both cryptocurrency and Ethereum prices.

As of March 5, Ethereum was trading at around $3,700. Despite experiencing a correction in the past 24 hours, the coin had witnessed a 13% increase in value over the previous trading week.

Other tokens, such as ARB and OP, representing the native currencies of Arbitrum and Optimism respectively, have also demonstrated gains in recent weeks.

ARB is currently trading at $2, marking a 6% increase over the last week. With a market capitalization surpassing $2.5 billion, the token has now secured a position among the top 50 most valuable coins, according to data from CoinGecko.

Layer-2 Solutions Gain Traction

In recent years, layer-2 scaling solutions have garnered increasing attention, leading to the launch of more platforms in this space. For instance, Blast and Base, both utilizing optimistic rollups, have emerged as notable contenders, boasting Total Value Locked (TVL) figures exceeding $2.7 billion and $1.1 billion, respectively.

These platforms have become favored choices among crypto users and protocols due to their ability to offer enhanced scalability and lower transaction fees. Additionally, their security is bolstered by their reliance on the Ethereum network.

The forthcoming Dencun hard fork is poised to further reduce fees and enhance operational efficiency. This update is specifically designed to make layer-2 transactions more cost-effective, thereby laying the groundwork for further scalability improvements within the Ethereum ecosystem.

Related Posts

Leave a Reply

Confirm now and stay with our news

What we write about

I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

Latest Articles

S&P Global Ratings joins Singapore MAS’s Project Guardian
28.06.2024By
Boden Memecoin Crashes After US President Biden’s Poor Debate Performance
28.06.2024By
Steno Research Expects $15-20B Inflows into Ether Spot ETFs, Predicts $6,500 Price Target
28.06.2024By

Latest news

S&P Global Ratings joins Singapore MAS’s Project Guardian
28.06.2024
Boden Memecoin Crashes After US President Biden’s Poor Debate Performance
28.06.2024
Steno Research Expects $15-20B Inflows into Ether Spot ETFs, Predicts $6,500 Price Target
28.06.2024
Bitcoin Mining Firm CleanSpark Acquires GRIID in $155M Stock Deal
28.06.2024
Elastos Partners With BEVM to Launch Bitcoin P2P Loans, Targeting $1.3T in Dormant Value
28.06.2024
Coinbase Files Lawsuits Against SEC, FDIC Over FOIA Request
27.06.2024
UK Watchdog Boosts Crypto Division to 100 Staff Members
27.06.2024
Hong Kong Government Explores DeFi and Metaverse to Boost Fintech Dominance
27.06.2024
Spot Ether ETFs May Receive US Approval by July 4: Report
27.06.2024
Bitcoin ETFs See Inflows for Second Consecutive Day as BTC Holds Steady at $60K
27.06.2024