Understanding the Current Total Lockup Volume of the Ethereum Layer2 Network

04/22/2023 08:07 • AI Insights • 101 views

According to reports, according to L2BEAT data, the current total lockup volume of the Ethereum Layer2 network is 9.57 billion US dollars, with a decline in the past 7 days to 8.33%. Among them, the total lockup volume of the ArbitrumOne network is 6.42 billion US dollars, accounting for 67.04%; The total lock in volume of Optimism network is 1.94 billion US dollars, accounting for 20.28%, while the total lock in volume of Dydx network is 338 million US dollars, accounting for 3.53%.

The total lockdown volume of Ethereum Layer2 network dropped to $9.57 billion

As reported by L2BEAT data, the current total lockup volume of the Ethereum Layer2 network is 9.57 billion US dollars, with a decline in the past 7 days to 8.33%. This data highlights a significant shift towards Layer2 solutions, indicating a growing interest in decentralized finance on the Ethereum blockchain.

What is the Ethereum Layer2 Network?

The Ethereum Layer2 network provides off-chain solutions to help reduce the network congestion and high gas fees caused by the Ethereum blockchain. It helps to provide a more scalable, secure, and cost-effective blockchain experience while also maintaining the key features of decentralized finance on the Ethereum network.

The Total Lockup Volume of the ArbitrumOne Network

The total lockup volume of the ArbitrumOne network is 6.42 billion US dollars, accounting for 67.04%. ArbitrumOne provides an optimistic rollup solution to the Ethereum blockchain, enabling faster transaction times and lower costs for users.

The Total Lockup Volume of the Optimism Network

The total lockup volume of the Optimism network is 1.94 billion US dollars, accounting for 20.28%. Optimism is another popular Layer2 solution that provides optimistic rollups to the Ethereum blockchain, allowing for faster transaction times and lower fees.

The Total Lockup Volume of the Dydx Network

The total lockup volume of the Dydx network is 338 million US dollars, accounting for 3.53%. Dydx is a decentralized exchange built on top of the Ethereum network that enables users to trade various cryptocurrencies.
Overall, the growing interest in Layer2 solutions on the Ethereum network is clear from the substantial increase in total lockup volume. These solutions provide users with a more scalable, cost-effective, and efficient experience while still maintaining the key features of decentralized finance on the Ethereum network.

Conclusion

As the use of decentralized finance continues to grow, the adoption of Layer2 solutions is expected to increase further. With reduced network congestion and lower fees, users can expect a more user-friendly experience, making decentralized finance accessible to more individuals.

FAQs

1. What is the Ethereum Layer2 network?
The Ethereum Layer2 network provides off-chain solutions to help reduce the network congestion and high gas fees caused by the Ethereum blockchain.
2. What is the total lockup volume of the ArbitrumOne network?
The total lockup volume of the ArbitrumOne network is 6.42 billion US dollars, accounting for 67.04%.
3. What is the total lockup volume of the Dydx network?
The total lockup volume of the Dydx network is 338 million US dollars, accounting for 3.53%.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/04/22/understanding-the-current-total-lockup-volume-of-the-ethereum-layer2-network/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.