Ethereum

Arbitrum

Loopring

dYdX (ethDYDX)

zkSync

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Total value locked in DeFis, a crucial metric for programmable blockchains, is rallying in the segment of Ethereum-based second-layer solutions. Despite general market apathy, the net TVL of 30 leading platforms added 32% in the last four months.
<h2 id="ethereum-l2s-set-new-all-time-high-in-tvl">Ethereum L2s set new all-time high in TVL</h2>
Yesterday, Oct. 27, 2023, the aggregated value of cryptocurrency locked in all Layer-2 platforms on Ethereum (ETH) reached a new all-time high. It briefly touched $12 billion, but then stabilized near $11.87 billion. The previous historic high was registered on April 17, at $11.85 billion. <img alt="Ethereum L2s set new ATH in TVL over $12B" data-entity-type="file" data-entity-uuid="603ddcdb-0ba7-493f-9905-b2df6959f309" src="https://u.today/sites/default/files/inline-images/41535_1.png">Image by <a href="https://l2beat.com/scaling/summary#active" rel="noopener noreferrer nofollow">L2Beat</a>
In the last hours, it slightly retraced to $11.81 billion. As such, in USD-denominated value, it added over 114% in the last 12 months despite the pale performance of the cryptocurrency market.
In terms of Ether-denominated value, the record was registered on Oct. 11, 2023. The ecosystem reached 6.72 million Ether (ETH) locked, while it barely surpassed 3.5 million Ether (ETH) a year ago.
In the last seven days, the ecosystem of L2s added 10.36% of dollar-denominated TVL. An array of the largest L2s — Arbitrum, OP Mainnet (formerly Optimism), Starknet, ImmutableX and Loopring — posted even more impressive gains.
Ethereum (ETH), the most crucial asset for L2s, is up by 10.14% in the corresponding period. It revisited a multi-month low over $1,836 two days ago.
<h2 id="arbitrum-op-mainnet-remain-undisputed-rivalry-rages-for-3">Arbitrum, OP Mainnet remain undisputed, rivalry rages for #3</h2>
Meanwhile, the sphere of L2s on Ethereum (ETH) remains highly "whale-dominated." The two largest networks — Arbitrum and OP Mainnet — are responsible for over 90% of TVL in the ecosystem.
Base, the fastest-growing L2, is protecting the third position with 4.83%. It is followed by zkSync Era and dYdX with 3.8% and 3%, respectively.
As covered by U.Today previously, dYdX made the most anticipated announcement this week: It is migrating from the L2 model to being a standalone Tendermint-based Layer 1.

Ethereum L2s Surprisingly Set New ATH

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