With Bitcoin leading the broader market rally, Ethereum (ETH) too joined the party with an additional 5% gain on Monday. As of press time, the Ethereum price is up 4.34% trading at $3,230 and a market cap of $387 billion.
Ethereum Layer 2 TVL Nears $30 Billion Milestone
Ethereum’s Layer 2 (L2) ecosystem is experiencing a surge in Total Value Locked (TVL), nearing the significant milestone of $30 billion as cryptocurrency prices climb.
Data from L2Beat reveals a notable uptick in Ethereum L2 TVL, which has surged by over 9% in the past week, reaching a new high of $29.42 billion. Of this total, Arbitrum constitutes the largest share at 45%, with a TVL of $13.26 billion. Other notable contributors include OP Mainnet with $7.57 billion, Manta Pacific with $1.89 billion, and StarkNet with $1.36 billion.
The substantial growth in Ethereum L2 TVL underscores the increasing adoption and utilization of Layer 2 solutions, highlighting their importance in scaling Ethereum’s network and mitig
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