Date: Sat, Sept 28, 2024, 11:23 AM GMT
The cryptocurrency market is on a bullish run, largely thanks to a recent rate cut by the U.S. Federal Reserve and positive sentiment as we head into the final quarter of the year. Bitcoin has soared above $65,000, and Ethereum has climbed to $2,700.
This bullish momentum has also spilled over into Ethereum’s Layer 2 (L2) ecosystem, with total value locked (TVL) in L2 solutions hitting $38.43 billion, according to data from L2BEAT. This marks a notable 6.49% increase in the past week alone.
Leading the pack is Arbitrum One, with a TVL of $14.53 billion, up 4.06% in the last seven days. Not far behind is Base, whose TVL now stands at $7.22 billion, reflecting a strong 8.73% growth during the same period. OP Mainnet takes third place, boasting a TVL of $6.68 billion, with an 8.44% increase over the last week.
In fourth place is Blast, which holds a TVL of $1.58 billion, up 2.06% this week, while Scroll rounds out the top five with a TVL of $1.33 billion, marking a 6.26% gain.
This surge in TVL highlights the growing importance of Layer 2 solutions, which aim to improve scalability and reduce fees on the Ethereum network, attracting more users and capital.
As the crypto market continues its upward trend, Ethereum Layer 2 solutions are certainly worth keeping an eye on.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.
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