The whole worth of locked property (TVL) in Ethereum (ETH) second-layer networks has exceeded $20 billion.
In line with the L2beat platform, on Jan. 5 the TVL briefly exceeded $21 billion, ultimately to falling to $20.41 billion on the time of writing, a brand new milestone for Ethereum-based layer-2s.
Furthermore, Tier 2 TVL has risen 33% over the previous month to its present stage of $20.4 billion, not removed from its peak. Nevertheless, L2 TVL has grown by as a lot as 333% over the previous yr from roughly $4.8 billion at first of January 2023.
DeFi markets grew by simply 38% by way of TVL over the identical interval, in keeping with DeFiLlama.
Arbitrum One remained the market chief with round $10 billion in TVL, gaining a share of virtually 50%. Optimism (OP Mainnet) ranks second with $5.8 billion TVL and a 28.7% market share.
The remaining Tier 2 platforms are comparatively small relating to TVL, with Metis Andromeda and Base coming in third and fourth with TVLs price round $750 million every.
Earlier this week, Arbitrum One’s TVL exceeded $10 billion, setting a brand new document. This determine exceeded $10.2 billion, dropping to $10.05 billion on the time of writing. Curiosity has been rising all through the previous yr, and at first of 2024 the worldwide decentralized finance (defi) TVL rose to $55.34 billion.