The TVL Of Ethereum Layer Two Reaches An All-Time High.

The TVL Of Ethereum Layer Two Reaches An All-Time High.

2021-11-23 | Mike Hallen

The TVL Of Ethereum Layer Two Reaches An All-Time High.

Over the last few months, layer-two TVL has more than quadrupled, reaching a new all-time high of $5.64 billion. As the cost of gas continues to grow quickly, the total locked price (TVL) on the Ethereum layer-two networks has reached a new high, spurring additional acquisitions. According to L2beat's Layer-two analytics platform, TVL has reached a high of $ 5.64 billion across all two-party contracts and networks. The two-layer equity solutions have the highest and lowest transaction fees and have climbed in November, which had the greatest rate of average gas money in Ethereum network history, according to purchases. With $ 2.67 billion in closed market layer two or around 45 percent of the total value, Arbitrum controls the lion's share. The dYdX derivatives decentralized exchange (DEX) is in second place with 975 million TVL, while the Loopring layer-two decentralized exchange (DEX) is in third place with $580 million, but its LRC token keeps the majority of its value locked. Since the beginning of October, layer-two TVL has more than doubled, jumping 110 percent from $ 2.68 billion to current levels. According to BitInfoCharts, the average Ethereum buying price is now about $ 40. On November 9, they reached their second-highest level of $ 65, representing a 700 percent increase over the previous four months. According to Etherscan, transferring simple ERC-20 token costs roughly $ 45 at the moment, while a complicated smart transaction or Uniswap trade costs a whopping $ 140. Despite the fact that an actual domain name costs only a few dollars a year, registering a name using Ethereum Name Service can cost hundreds of dollars in gas. As investors and developers want to avoid the Ethereum network due to increased gas costs, multichain-based financial platforms have witnessed record entries since October.

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