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

Tether Freezes $15 Billion in USDT Following Binance Attack

Tether announced the freezing of over $15 billion in USDT linked to the late-October Binance attack, collaborating with investigators and industry partners.

user avatarDavid Robinson

ONDOToken Fails to Amplify Ether's Gains Amid Market Divergence

ONDOToken experienced a decline while ether gained against bitcoin, highlighting a divergence in performance.

user avatarAndrew Smith

Ether Shows Strength Against Bitcoin as ETHBTC Ratio Hits New High

On November 3, ether's value increased against bitcoin, reaching a high ETHBTC ratio of 0.002954.

user avatarJacob Williams

Bitcoin's Performance Compared to Previous Midterms

Bitcoin's position relative to its 200-day average has significantly improved since the last midterm elections.

user avatarSon Min-ho

Binance Plans Additional Snapshot for Proof of Reserves

Binance plans to conduct an additional snapshot for the proof of reserves process on November 4, expected to take 40 to 50 hours.

user avatarAyman Ben Youssef

North Korea Dismisses FBI's Claims on Binance Hack

North Korea has dismissed allegations from the FBI regarding its involvement in a $63 billion cryptocurrency theft linked to Binance, calling it a political provocation.

user avatarKofi Adjeman

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.