The Ethereum-based Layer 2 ecosystems have recently experienced a significant decrease in the total value locked (TVL). According to data from CoinRank, the cumulative TVL of the Ethereum L2s has dropped to $43.29 billion, representing a 1.97% decline in the past few days. This decline highlights the ongoing volatility in the DeFi sector and the impact of broader market trends on Ethereum’s L2 scaling solutions.
Ethereum L2 TVL drops to $43.29B, down 1.97% in 7 days
The total value locked (TVL) in Ethereum Layer 2 networks has fallen to $43.29 billion, marking a 1.97% decline over the past 7 days. The top five L2s by TVL are:
– Arbitrum One: $16.29 billion (-2.63%)
– Base: $1.396 billion… [image]
– CoinRank (@CoinRank_io) February 1, 2025
Ethereum ($ETH) Sees 1.97% Slump in L2 TVL
CoinRank recently revealed the TVL of the top five L2s in its latest post. The blockchain analytics platform stated that Ethereum’s L2 TVL has decreased in the past few days. With a 1.97% decline, the current figure stands at $43.29 billion. This indicates a cautious sentiment among users and investors, reflecting the increasing volatility in the market.
Arbitrum One and OP Mainnet Record -2.63% and -5.69% Dips
Apart from Ethereum, Arbitrum One’s L2 TVL is nearly $16.29 billion, showing a decline of 2.63%. In addition, OP Mainnet has experienced a decrease of 5.69% to reach a TVL of $6.41 billion. On the other hand, the other three L2 networks have seen slight increases in TVL. Base’s TVL has reached $1.396 billion, indicating a growth of 0.009%. ZKzyncEra’s current TVL is $1.16 billion, recording a significant increase of 3.82%. Furthermore, Starknet’s TVL of nearly $878 million indicates a rise of 3.28%.
L2 TVL Decline Parallels Ethereum’s Recent Price Decrease
Currently, ETH is trading at $3,267.73, with a 0.92% increase in the past 24 hours. However, its performance over the past 7 days shows a decline of 0.67%, and it has experienced a 4.85% decrease over the past month. The decrease in L2 TVL also reflects investor reluctance, but this is likely a short-term dip in activity. Positive market developments and macroeconomic conditions have the potential to shift the momentum.