Understanding the Lockup Volume on Ethereum Layer2
According to reports, L2BEAT data shows that as of now, the total lockup on Ethereum Layer2 is $9.56 billion, a decrease of 2% in the past 7 days. Among them, the highest lockdown
According to reports, L2BEAT data shows that as of now, the total lockup on Ethereum Layer2 is $9.56 billion, a decrease of 2% in the past 7 days. Among them, the highest lockdown volume is the expansion plan Arbitrum One, which is about 6.37 billion US dollars, accounting for 66.63%, followed by Optimism, which has a lockdown volume of 1.93 billion US dollars, accounting for 20.18%. The total lockdown volume of the Dydx network is 337 million US dollars, accounting for 3.21%.
The current total lockdown on Ethereum Layer2 is $9.56 billion
Introduction
With the rising popularity and usage of Ethereum, the need for scalability solutions has become more pressing than ever. The Ethereum Layer2 technology enables faster transaction times and lower fees, making it an attractive alternative to the congested main Ethereum network. In this article, we will explore the current status of the Layer2 technology and its lockup volume.
What is Lockup Volume?
Before delving into the current lockup volume on Ethereum Layer2, it is important to understand what lockup volume means. It refers to the total amount of assets that users have deposited into the protocol and cannot withdraw until the end of the lockup period. Essentially, it is the amount of cryptocurrency assets that are temporarily locked up in a smart contract.
The Current State of Ethereum Layer2 Lockup Volume
According to L2BEAT data, as of now, the total lockup on Ethereum Layer2 is $9.56 billion, a decrease of 2% in the past 7 days. This decrease is likely due to the recent market correction and volatility. Despite the reduction, the Layer2 technology continues to attract significant amounts of capital.
Arbitrum One Leads the Lockup Volume
Among the various Layer2 solutions available, the highest lockdown volume is the expansion plan Arbitrum One. It currently has a lockup volume of about $6.37 billion, accounting for 66.63% of the total lockup volume on Ethereum Layer2. Arbitrum One’s fast transaction times and low fees have made it a popular choice among users seeking quick and efficient transactions.
Optimism Follows Arbitrum One
After Arbitrum One, the Layer2 solution with the second-highest lockup volume is Optimism, with a lockup volume of $1.93 billion, accounting for 20.18% of the total lockup volume. Optimism is another popular solution for users who value fast transaction times and low fees.
Dydx Network
The Dydx network, a decentralized exchange on Layer2, has a lockup volume of $337 million, accounting for 3.21% of the total lockup volume on Ethereum Layer2. Although its lockup volume is significantly lower than that of Arbitrum One and Optimism, it still demonstrates the potential of Layer2 solutions in attracting more users and assets.
Conclusion
In conclusion, Ethereum Layer2 technology is growing in popularity, and its lockup volume continues to increase, with Arbitrum One and Optimism leading the way. The Layer2 technology offers faster transaction times and lower fees, making it an attractive alternative for users frustrated with the congestion on the main Ethereum network. With the potential for more improvements, Layer2 solutions are likely to continue to attract more users and assets in the future.
FAQs
Q: What is Ethereum Layer2 technology?
A: Ethereum Layer2 technology refers to a range of off-chain solutions that help to reduce congestion on the main Ethereum network.
Q: What is Lockup Volume?
A: Lockup volume is the total amount of assets that users have deposited into the protocol and cannot withdraw until the end of the lockup period.
Q: Why is Arbitrum One popular among users?
A: Arbitrum One is popular among users due to its fast transaction times and low fees, making it an attractive alternative to the congested main Ethereum network.
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