All-Time High Reached as Ethereum Layer-2 TVL Surpasses $21 Billion

The value of locked assets in Ethereum’s second-layer networks has surpassed $20 billion, reaching a new milestone. On January 5, the total value briefly exceeded $21 billion before settling at $20.41 billion. This represents a 33% increase in Tier 2 TVL over the past month and a remarkable 333% growth over the past year, starting from $4.8 billion in January 2023. In comparison, DeFi markets only saw a 38% increase in TVL during the same period.

Arbitrum One remains the market leader, boasting a TVL of approximately $10 billion and capturing almost 50% of the market share. Optimism (OP Mainnet) follows closely behind with a TVL of $5.8 billion and a 28.7% market share. The remaining Tier 2 platforms, Metis Andromeda and Base, hold relatively smaller TVLs of around $750 million each.

Earlier this week, Arbitrum One set a new record with a TVL surpassing $10 billion, reaching $10.2 billion before settling at $10.05 billion. Interest in decentralized finance (defi) has been steadily growing throughout the year, with the global defi TVL reaching $55.34 billion at the start of 2024.

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