Ethereum Layer2 Lockup Volume Reaches $8.838 billion

03/27/2023 19:55 • Tech Ticker • 128 views

According to reports, L2BEAT data shows that up to now, the total lockup volume on Ethereum Layer2 is $8.838 billion, up 27.52% in the past 7 days. Among them, the largest lockup volume is the expansion plan Arbitrum One, which is approximately $5.879 billion, accounting for 66.52%, followed by Optimism, which has a lockup volume of $1.948 billion, accounting for 22.04%.

Total lockup on Ethereum Layer2 is $8.838 billion

The adoption of Layer2 solutions is slowly picking up steam in the cryptocurrency world, with more and more users seeking cheaper and faster alternative solutions to Ethereum’s bottlenecked main network. According to recent reports, data from L2BEAT shows that the total lockup volume on Ethereum Layer2 has reached $8.838 billion, with an increase of 27.52% in the past 7 days.

The Expansion Plan Arbitrum One Holds the Largest Lockup Volume

Out of the various Layer2 solutions available, Arbitrum One holds the largest lockup volume with approximately $5.879 billion, accounting for 66.52% of the total lockup volume. This expansion plan is designed to provide developers with an easy way to port Ethereum applications to Layer2 with a low barrier to entry. It is a trustless, decentralized network that provides fast transaction speeds and lower costs compared to Ethereum’s main network.

Optimism Holds the Second Largest Lockup Volume

In second place is Optimism, holding a lockup volume of $1.948 billion, accounting for 22.04% of the total lockup volume. Optimism is designed to provide rapid Layer2 scaling solutions to the Ethereum community, providing users with a high level of scalability, faster transaction times, and reduced costs.

Conclusion

The adoption of Ethereum Layer2 solutions is slowly gaining traction, with more users seeking faster and cheaper alternative solutions to Ethereum’s main network. The total lockup volume on Ethereum Layer2 has reached $8.838 billion, with an increase of 27.52% in the past 7 days. Arbitrum One holds the largest lockup volume with approximately $5.879 billion, accounting for 66.52% of the total lockup volume, while Optimism holds a lockup volume of $1.948 billion, accounting for 22.04% of the total lockup volume.

FAQs

Q: What is Ethereum Layer2?
A: Ethereum Layer2 is a secondary network used for off-chain computation and transaction processing to ease the network’s congestion.
Q: What are the benefits of using Layer2 solutions?
A: Layer2 solutions provide Ethereum users with faster transaction times, reduced costs, and scalable solutions for the Ethereum network.
Q: Who are the top Layer2 solutions providers?
A: The top Layer2 solutions providers as of now include Arbitrum One, Optimism, Polygon, Loopring, and ZKSync.
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