Ethereum L2 TVL Grows by 205% Since November 2023

user avatar

by Giorgi Kostiuk

2 years ago

Investor interest in assets on the Ethereum network is driving its ecosystem's growth. The cumulative total value locked (TVL) in Ethereum layer-2 (L2) networks has surpassed $51.5 billion, setting a new record.

New Record High in Ethereum L2 TVL

According to L2beat statistics, the total TVL has increased by more than 205% from $16.6 billion in November 2023.

Influence of Arbitrum One and Base

The increase to more than $51 billion TVL was mainly caused by Arbitrum One and Base. Arbitrum holds 35% of the entire TVL in the L2 ecosystem, valued at about $18.3 billion, while Base has $11.4 billion, accounting for over 22% of all L2.

L2 Industry's Maturity and Challenges

While the increase in TVL highlights the maturity of the L2 industry, some experts worry about potential 'cannibalistic' effects on Ethereum's mainnet income and liquidity fragmentation.

The rise in TVL in L2 networks indicates the maturity and importance of L2 solutions for scaling Ethereum, though concerns remain about potential impacts on the main network.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

CFTC Takes Legal Action Against Utah to Protect Kalshi

CFTC files lawsuit against Utah to block enforcement actions against Kalshi, a prediction market platform.

user avatarElias Mukuru

Utah Charges Kalshi and Co-Founders with Illegal Gambling Promotion

Utah has filed criminal charges against KalshiEX LLC and its co-founders for illegally promoting gambling in the state.

user avatarMohamed Farouk

Arbitrum's Network Fees Remain Stable Amid Increased Activity

Arbitrum's daily user-paid fees remained stable at approximately 19,100 on October 28, despite an increase in active addresses, indicating a shift towards lower-cost interactions.

user avatarDiego Alvarez

Transaction Activity Increases but Lags Behind Wallet Growth

Transaction activity increased modestly to approximately 21 million on the Arbitrum network, despite a significant rise in active addresses, raising concerns about the sustainability of growth.

user avatarMaria Fernandez

Arbitrum Records Sharp Increase in Active Addresses

Arbitrum has recorded a sharp rise in daily active addresses, reaching approximately 109 million on October 28, marking a notable increase in blockchain activity.

user avatarKenji Takahashi

Ripple Aims for $900 Million Annualized Revenue by 2026

Ripple aims to achieve $900 million in annualized product revenue by the end of 2026, diversifying its business strategy beyond cryptocurrency payments.

user avatarGustavo Mendoza

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.