Ethereum Layer 2 Total Value Locked at $35.6 Billion… Down 11.6% from Last Week, What's the Reason?
Summary
- The value of total assets deposited in the Ethereum Layer 2 network decreased by 11.6% from last week due to the decline in Ethereum's price.
- Arbitrum One maintained its market share lead with a TVL of $13.68 billion.
- Layer 2 networks aim to reduce fees and improve processing speed by processing data outside the blockchain.
The total value of assets deposited in the Ethereum (ETH) Layer 2 network decreased by 11.6% over the past week.
According to blockchain data statistics site L2BEAT, as of 1:28 PM on the 9th, the total value locked (TVL) in Ethereum's (ETH) Layer 2 network was $35.64 billion, down 11.6% from the previous week. This is approximately 51.96 trillion KRW.
During the same period, the amount of Ethereum deposited actually increased by 4.76%. It is interpreted that the dollar-denominated deposit size decreased due to the decline in Ethereum's price.
Notably, Arbitrum One (ARB) maintained its market share lead in the Layer 2 network with a TVL of $13.68 billion. Following this, Coinbase Base recorded $11.5 billion, and Optimism (OP) recorded $5.07 billion. zkSync Era recorded $923.44 million, StarkNet (STRK) recorded $663.16 million, and Blast (BLAST) recorded $588.13 million.
Layer 2 refers to a network that implements a separate device to process data outside the blockchain, aiming to reduce fees and increase processing speed.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
