Ethereum

Arbitrum

April

<p class="is-style-lead">In a Nov. 20 post on X, Coingecko, a leading cryptocurrency data aggregator reports Ethereum, Tron and Binance Smart Chain make up a total of 92.5% of total value locked (TVL) of the top Layer-1 blockchains.</p> 
<p>At the same time, L1s are said to only be experiencing modest growth in TVL compared to L2s.</p> 
<h2 class="wp-block-heading" id="a-yearly-peak">A yearly peak</h2> 
<p>Data in&nbsp;<a href="https://www.coingecko.com/research/publications/top-layer-1-blockchains?utm_source=twitter&amp;utm_medium=social" target="_blank" rel="noreferrer noopener">the report</a>&nbsp;highlights that as of October, Ethereum leads as the foremost L1 blockchain, boasting a TVL, a measurement looking at the total value of digital assets that are locked or staked in a particular defi platform, of $23 billion.</p> 
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   <p lang="en" dir="ltr">Our recent study shows that <a href="https://twitter.com/ethereum?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@ethereum</a>, <a href="https://twitter.com/trondao?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@trondao</a> and <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Binance</a> Smart Chain combined make up 92.5% of the total TVL of the top Layer-1 blockchains.<br><br>Read the full study: <a href="https://t.co/JnJb2l7wfg" target="_blank">https://t.co/JnJb2l7wfg</a> <a href="https://t.co/ytkrKO38r8" target="_blank">pic.twitter.com/ytkrKO38r8</a></p>— CoinGecko (@coingecko) <a href="https://twitter.com/coingecko/status/1726501411125621201?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">November 20, 2023</a>
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<p>Notably, Ethereum achieved its peak TVL of $31.5 billion in April 2023, shortly following the Ethereum merge on April 12.</p> 
<p>In October 2023, Tron (TRX) achieved its yearly peak of $7.9 billion in TVL, making it the second largest L1 blockchain, while Binance Smart Chain (BSC) secured the third position with a TVL of $2.8 billion. Notably, BSC reached its highest TVL of $5.7 billion in February this year.&nbsp;</p> 
<p>Among the top 10 L1 blockchains, six now operate on the Proof-of-Stake (PoS) consensus mechanism, with Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/">BTC</a>) being the sole blockchain using the Proof of Work (PoW) consensus mechanism.</p> 
<p>The report goes on to highlight that despite Bitcoin being the first blockchain, it only ranks at number 8 in the top 10 L1 blockchains by the same TVL measurement.</p> 
<p> You might also like: <a href="https://crypto.news/coingecko-reports-arbitrum-as-being-the-largest-l2-solution/"> CoinGecko reports Arbitrum is largest L2 solution </a> </p> 
<h2 class="wp-block-heading" id="an-l2-leader">An L2 leader</h2> 
<p>Comparatively, <a href="https://twitter.com/coingecko/status/1722555989042618649?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1722555989042618649%7Ctwgr%5Ed4aa6990179c8ea475470ee00e26c0e14c0fb335%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcrypto.news%2Fcoingecko-reports-arbitrum-as-being-the-largest-l2-solution%2F" data-type="link" data-id="https://twitter.com/coingecko/status/1722555989042618649?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1722555989042618649%7Ctwgr%5Ed4aa6990179c8ea475470ee00e26c0e14c0fb335%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcrypto.news%2Fcoingecko-reports-arbitrum-as-being-the-largest-l2-solution%2F">a post</a> from earlier this month on X identified Arbitrum as the leading Layer 2 solution.</p> 
<p>At the time, Arbitrum was said to secure a TVL of $1.79 billion in October, accounting for 41.2% of the market share among the top Layer 2 solutions.</p> 
<p> Read more: <a href="https://crypto.news/coingecko-finds-october-consistently-positive-for-crypto/"> CoinGecko finds October consistently positive for crypto </a> </p>

Ethereum among major blockchains, dominating with 92.5% of total TVL

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