Arbitrum One’s TVL surges to $10b, breaks new records

An all-time record for Total value locked (TVL) was recently set on the Arbitrum One platform.

According to the L2Beat platform, the growth in the last 24 hours was 15%, and TVL of Arbitrum, a Layer 2 solution for the Ethereum (ETH) network designed to increase the speed and scalability, has reached a record value of $10.18 billion.

In second place is the Optimism protocol, whose TVL amounted to $6.34 billion – almost 40% less than Arbitrum. Over the past 24 hours, the TVL of the protocol has also shown a significant increase of 11.63%. Metis closed the top three. However, the platform warns that a proof system is being developed.

Also in the top 5 protocols by TVL were Base and zkSync Era, with $636 million and $569 million, respectively.

The total TVL volume for the first three blockchains on the list was more than 82%. Also in the top 10 second-tier networks were Manta Pacific, dYdX, Mantle, Immutable X, and Line.

In November 2023, CoinGecko analysts said that Arbitrum topped the ranking of L2 networks in terms of the volume of blocked funds in smart contracts with an indicator of $1.79 billion. At the same time, in May 2023, the Arbitrum second-level network reached a record level of $2.6 billion. However, analysts then called the network Base from Coinbase the fastest-growing tier 2 solution.