TVL on Ethereum layer 2 climbs to new all-time high By BTC Peers

TVL on Ethereum layer 2 climbs to new all-time high

The total value locked (TVL) on layer 2 protocols has soared to a new all-time high of $6.59 billion.

The demand for layer 2 (L2) protocols has continued to grow amid Ethereum’s high gas fees. According to L2 analytics platform L2beat, the TVL locked across various L2 protocols has climbed to an all-time high of over $6.59 billion, up by nearly 20% in the last seven days.

L2 scaling solutions provide a temporary fix to Ethereum’s high gas fees and low transaction throughput. They provide a much higher transaction throughput and lower transaction fees.

These protocols have enjoyed increased patronage in the past few months. They have surged in terms of adoption in November.

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