Ethereum Layer 2's TVL Hits Record
Shibarium Surges 60% In Transaction Volume, Uniswap Foundation Releases Financials & Voting Proposal
Following the SEC's approval of spot Ethereum ETFs from a number of fund managers, the total value locked of Ethereum layer 2 networks reached a record $47 billion.
Arbitrum One is leading with a TVL of $19.3 billion, OP Mainnet is second with $7.86 billion, and Base follows with $6.94 billion. Others with around $1 billion are Blast, Mantle, Linea, and Starknet.
L2BEAT reported an increase of 17.39% in Ethereum layer 2 TVL over the past week.
Adding to the on-chain engagement is the recent Ethereum core developers' announcement of the upcoming Pectra upgrade in Q1 2025 that will further improve scalability and performance.
VanEck has already begun displaying "enter the ether" ads for their Ethereum ETF, with the first one having appeared just minutes after the SEC's approval.
VanEck also estimates that Ethereum could possibly capture a 60% market share across public blockchains. This kind of volume would, according to projections, put layer 2 network valuation at over $1 trillion.
The firm expects to see more zero-knowledge framework solutions and similar functions used in existing and new Ethereum layer 2 rollups.
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