The total value of assets locked in Ethereum Layer 2 systems has reached nearly $44 billion, according to L2BEAT. These Layer 2 solutions are designed to enhance Ethereum’s scalability and efficiency, making transactions faster and cheaper. Here is the detail of the top Layer 2 projects based on their Total Value Locked (TVL) in USD.
Top Ethereum Layer 2 Projects by Total Value Locked
The total value of assets locked in @Ethereum #Layer2 systems is almost $44B at the moment, according to @l2beat. Let’s compare the top Layer 2 projects by current TVL in USD, including @Arbitrum $ARB, @Base, @Optimism $OP,… pic.twitter.com/5bp6Vwequa
— TOP 7 ICO | #StandWithUkraine🇺🇦 (@top7ico) July 26, 2024
Arbitrum ($ARB) Dominates with $17 Billion in TVL
Arbitrum ($ARB) tops the chart with a staggering $17 billion in total value locked. Arbitrum has become popular because of its innovative roll-up solution. This is followed by Base with a TVL of $7.2 billion. Base has a solid foundation which enables it to host a variety of dApps.
Optimism ($OP) ranks second with $6.48 billion invested in its system. Optimism employs optimistic roll-ups for quicker and less expensive transactions, which has established it as the go-to platform for Ethereum users. Blast ($BLAST) with a TVL of $2.34 billion is another key participant in the Layer 2 space. Blast aims at delivering faster transactions and lower gas fees, which are suitable for various applications based on the blockchain.
Mantle ($MNT) holds a total value of $1.33 billion locked up. Other prominent projects include Scroll, which has a Total Value Locked (TVL) of $1.32 billion, and Linea, with a TVL of $1.17 billion. Both projects are aimed at increasing the speed of transactions and reducing their price, which will positively affect the experience of using Ethereum.
Manta Network Completes List with $630 Million in TVL
Another example is zkSync ($ZK) which has the total value of locked $1.14 billion also offers privacy and security along with high speed with the help of its zero-knowledge roll-up technology. Starknet ($STRK) has $705 million locked in the Starknet system. Starknet guarantees people’s safe and fast transactions, so it might be considered as a promising Layer 2 solution.
Lastly, Manta Network, $MANTA, has $630M TVL and addresses privacy and security issues while providing private transactions in Ethereum. This is one of the key approaches highlighted by Ethereum to solve scalability problems and, at the same time, it opens new opportunities and developments in the context of Web3. With the development of Layer 2 technology, these platforms are essential for the advancement of Ethereum in the future.