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Ethereum Layer2 Lock-up Volume Decreases Slightly in Past 7 Days

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According to reports, L2BEAT data showed that the total lock-up volume on Ethereum Layer2 was US $6.245 billion, down 0.32% in the past 7 days. Among them, the…

Ethereum Layer2 Lock-up Volume Decreases Slightly in Past 7 Days

According to reports, L2BEAT data showed that the total lock-up volume on Ethereum Layer2 was US $6.245 billion, down 0.32% in the past 7 days. Among them, the largest amount of lock-in is the expansion plan Arbitrum One, which is about $3.318 billion, accounting for 53.12%, followed by Optimism, which is $1.94 billion, accounting for 31.06%.

The total lock-up volume on Ethereum Layer2 is $6.245 billion

Interpretation of the news:


The L2BEAT dataset has revealed that the total lock-up volume on Ethereum Layer2 has decreased by 0.32% in the past seven days. According to the report, the Ethereum Layer2 blockchain platform currently has a lock-up volume worth US $6.245 billion. Among the various Layer2 options available to users, Arbitrum One has the largest amount of lock-in, accounting for 53.12% of the total, with roughly $3.318 billion locked in. Optimism comes in second place in the ranking, with a lock-up volume of $1.94 billion, accounting for 31.06% of the total.

Layer2 is the second layer of the Ethereum blockchain and enables users to carry out transactions and execute smart contracts faster and at lower costs than using Ethereum’s first layer. Ethereum Layer2 has proved to be a popular platform among users due to the transaction speed and lower costs as compared to Ethereum’s main network, which has struggled with issues like high gas fees and sluggish transaction processing.

Analysts have attributed the slight decrease in the lock-up volume on Ethereum Layer2 to a general market slowdown in the crypto industry. However, they have also noted that the decrease is relatively small, which indicates that users are still interested in using Layer2 technology. The fact that Arbitrum One has the most substantial lock-in volume can be attributed to its expansion plans and its user-friendly interface, which has attracted more users to the platform.

Optimism has been the platform of choice for many major projects, including Uniswap and Synthetix, indicating its popularity among users. Despite the platform’s slightly lower lock-up volume, it remains one of the main Layer2 options for users who are looking for transaction speed and cost savings.

In conclusion, the data from the L2BEAT dataset shows that the lock-up volume on Ethereum Layer2 has decreased slightly in the past seven days. However, the overall volume remains high, indicating that users are still interested in using Layer2 technology to carry out transactions and execute smart contracts. Arbitrum One and Optimism remain the most popular Layer2 options, with Arbitrum One having the largest lock-up volume due to its expansion plans and user-friendly interface, while Optimism remains popular among major projects in the DeFi space.

Overall, the data indicates a strong and growing interest in Layer2 technology, which is expected to continue to grow in the coming months and years.

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