For the first time ever, the total net value locked across Ethereum">Ethereum‘s layer 2 (L2) solutions has exceeded $12 billion. The new all-time high comes despite broader crypto market weakness.
The aggregate total value locked (TVL), a key metric for programmable blockchains, has climbed 32% over the past four months even amidst low enthusiasm in crypto. Leading L2s like Arbitrum and Optimism have posted even larger TVL gains.
The Ethereum L2 ecosystem now has over 6.7 million ETH staked, up drastically from 3.5 million ETH staked a year ago. The growth in value and staked Ether underscores L2 traction.
However, the sector remains highly concentrated between two main platforms – Arbitrum and Optimism control over 90% of L2 TVL. Competition is ongoing for the #3 spot between Base, zkSync, and dYdX.
The achievement of a new TVL record highlights Ethereum L2 solutions’ resilience and increasing adoption despite market headwinds. As Ethereum works to enhance scalability, L2s are cementing their roles as vital infrastructure.
