The whole worth locked (TVL) of Ethereum Layer 2s have reached a historic document of $47 billion.
In keeping with the info posted by L2BEAT, the present TVL of all canonically bridged, externally bridged, and natively minted tokens on Ethereum Layer 2 networks is $47.45 billion, setting a brand new all-time excessive.
Breaking down by networks, Arbitrum One leads the rating and has a TVL of $19.3 billion. OP Mainnet comes the second with $7.88 billion. Base is ranked the third with $6.94 billion TVL.
Different blockchains with a TVL exceeding $1 billion embody Blast, Mantle, Linea, and Starknet. L2BEAT indicated that the whole worth locked of all L2s has elevated by 17.39% prior to now seven days.
Spot Ethereum ETFs Drive Development
The bullish development was primarily motivated by the U.S. Securities and Change Fee’s (SEC) current approval of the spot Ethereum exchange-traded funds (ETFs).
On Could 23, the SEC permitted the Ethereum ETF purposes filed by a complete of eight issuers, marking the second spot digital asset ETF within the nation, following the spot Bitcoin ETFs permitted in January.
The issuers included BlackRock, Constancy, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton. They’re but within the means of submitting S-1 varieties, because the timeline remained unsure whereas analysts anticipated launch inside weeks.
Subsequent Improve Pectra Scheduled for Q1 2025
As well as, the Ethereum core builders have determined that Pectra, the following main improve of the Ethereum community, can be launched within the first quarter of 2025.
After this, we spent a lot of the remaining time on the decision discussing how we should always strategy scoping Pectra. @gakonst had shared a doc forward of time detailing Reth’s views: https://t.co/CXBgGcaY54
— timbeiko.eth (@TimBeiko) Could 23, 2024
The neighborhood select Q1 2025 so the builders might keep away from debugging throughout Devcon and the vacation season. This schedule would additionally permit the contributors to extensively check the improve and deal with the transition.
For the consensus shopper “CL,” the improve will embody PeerDAS to extend the community’s knowledge availability. For the execution shopper “EL,” Pectra is deliberate to incorporate EOF, change EIP3074 with EIP7702, and patch EIP2935.