Ethereum

Andromeda

Arbitrum

Base

Metis

The total value of locked assets (<a href="https://crypto.news/tag/TVL/">TVL</a>) in Ethereum (<a href="https://crypto.news/price/ethereum/">ETH</a>) second-layer networks has exceeded $20 billion. 
According to the L2beat platform, on Jan. 5 the TVL briefly exceeded $21 billion, eventually to falling to $20.41 billion at the time of writing, a new milestone for Ethereum-based layer-2s. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="393" src="https://crypto.news/app/uploads/2024/01/Screenshot-2024-01-05-at-11.00.11-1-1024x393.png" alt="Ethereum Layer-2 TVL hits $21b, reaching all-time high - 33" class="wp-image-14234776">
 <figcaption class="wp-element-caption">
 Source: L2beat
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</figure> 
Moreover, Tier 2 TVL has risen 33% over the past month to its current level of $20.4 billion, not far from its peak. However, L2 TVL has grown by as much as 333% over the past year from approximately $4.8 billion at the beginning of January 2023. 
DeFi markets grew by just 38% in terms of TVL over the same period, according to DeFiLlama. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="652" src="https://crypto.news/app/uploads/2024/01/Screenshot-2024-01-05-at-11.03.40-1024x652.png" alt="Ethereum Layer-2 TVL hits $21b, reaching all-time high - 34" class="wp-image-14234780">
 <figcaption class="wp-element-caption">
 Source: DeFiLlama
 </figcaption>
</figure> 
<a href="https://crypto.news/tag/Arbitrum/">Arbitrum One</a>&nbsp;remained the market leader with around $10 billion in TVL, gaining a share of almost 50%. <a href="https://crypto.news/tag/optimism/">Optimism</a> (OP Mainnet) ranks second with $5.8 billion TVL and a 28.7% market share. 
The remaining Tier 2 platforms are relatively small regarding TVL, with Metis Andromeda and Base coming in third and fourth with TVLs worth around $750 million each. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="294" src="https://crypto.news/app/uploads/2024/01/Screenshot-2024-01-05-at-11.04.00-1024x294.png" alt="Ethereum Layer-2 TVL hits $21b, reaching all-time high - 35" class="wp-image-14234777">
</figure> 
Earlier this week, Arbitrum One’s TVL <a href="https://crypto.news/arbitrum-ones-tvl-surges-to-10b-breaks-new-records/">exceeded</a> $10 billion, setting a new record. This figure exceeded $10.2 billion, dropping to $10.05 billion at the time of writing. Interest has been growing throughout the past year, and at the beginning of 2024 the global <a href="https://crypto.news/defi-trends-developments/">decentralized finance</a>&nbsp;(defi) TVL <a href="https://crypto.news/defi-tvl-surpasses-55b-as-crypto-market-continues-to-surge/">rose</a> to $55.34 billion. 
 Read more: <a href="https://crypto.news/defi-coins-to-invest-in/"> Best performing defi cryptos: is it safe to invest in them in 2024 </a>

Ethereum Layer-2 TVL hits $21b, reaching all-time high

crypto.news

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