The total value locked (TVL) of Ethereum layer 2 networks reached $10 billion on April 14, a new high, as ether's price rose, according to data from layer 2 analytics site L2Beat. While TVL has since declined to around $9.29 billion amid a dip in crypto prices, it remains over double its level at the start of the year.
The rise in TVL reflects growing interest in scaling systems, with users seeking less-expensive platforms due to Ethereum's high fees during peak network demand periods. Arbitrum One dominates the layer 2 scaling landscape, accounting for more than 66% of market share, followed by Optimism.
Newly unveiled zero-knowledge (ZK) rollups zkSync Era and Polygon zkEVM have registered the fastest-growing TVL over the past month, with TVL rising on the latter to $5.18 million, a 14% increase over the past seven days. ZkSync Era accounted for $240 million in TVL.
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