Over $5.6B Is Now Locked on Ethereum Layer Two

The total value locked on Ethereum layer two solutions has reached a new all-time high of $5.64 billion.

According to the data from analytics platform L2beat, layer 2 TVL has more than doubled over the past couple of months driven by ever-growing gas fees on Ethereum’s mainnet which has been increased by 700% over the past four months.

Arbitrum is accounted for $2.67 billion TVL or around 45% of the market, followed by a decentralized derivatives exchange dYdX with $975 million in TVL, and the Loopring L2 DEX with $580 million locked up.

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