Blockchain

TVL Of Optimism Surpasses Polygon

For the first time, the leading Ethereum (ETH) scaling ecosystem Polygon (MATIC) has a lower TVL than Optimism.

Second-layer solutions built on the Ethereum network will become more widespread in 2022, with L2 majors Optimism and Arbitrum hosting over 160 protocols combined.

Optimism, the largest rollup-based second-layer scaling solution for the Ethereum network, has reached yet another significant milestone in widespread usage.

All Chains TVL. Source: CoinCu

According to Defi Llama, a prominent tracker of decentralized finance (DeFi) protocols, 61 products on the Optimism network gathered a total value locked of $2.38 billion. Meanwhile, 282 protocols on the Polygon network received $1.83 billion in funding. Both outcomes contain data on borrowed funds.

Tron (TRX) and Solana (SOL) continue to be the market leaders in the non-EVM sector, which comprises protocols that do not have smooth interoperability with Ethereum, with $5.88 billion and $2.29 billion locked, respectively.

Optimism and Arbitrum use Optimistic Rollups technology, the two major second-layer networks on Ethereum, to bundle Ethereum transactions and broadcast them to the mainnet.

In August 2022, Ethereum’s L2s ecosystem eventually recovered losses from the Terra (LUNA) incident. The procedures increased TVL to pre-collapse levels.

Total Value Locked of L2 Ethereum. Source: L2Beat

According to Defi Llama, Optimism has had a stunning 700% surge in TVL quantity during the previous seven days.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.