Total Locked Value (TVL) on the Ethereum layer 2 (L2) network has soared to new highs. as fees continue to increase
current L2beat The Ethereum layer 2 analytics platform reported that the total value locked in various L2 protocols and networks reached $5.64 billion.
The L2 scaling solution has much higher transaction throughput. and lower transaction fees It also rose in terms of adoption in November. with the highest average fees in history on the Ethereum network
Hitting new ATHs in $ETH locked in layer2
— Evan Van Ness
(@evan_van_ness) November 22, 2021
Arbitrum had the highest TVL at $2.67 billion locks, or about 45% of the total, followed by decentralized derivatives exchange dYdX in second place with $975 million, and Loopring L2 DEX in third place with $580 million.
The average Ethereum transaction fee is currently around $40, according to data. Bitinfocharts It surged to the second-highest ever of $65 on Nov. 9 and has been up 700% over the past four months.
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