The total value locked (TVL) in Ethereum Layer 2 networks has recently experienced a significant decrease. According to data from CoinRank, the cumulative TVL of Ethereum L2s has dropped to $43.29 billion, marking a 1.97% decline over the past few days. This decrease highlights the ongoing volatility in the DeFi sector and demonstrates 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 TVL of Ethereum Layer 2 networks has fallen to $43.29 billion, representing a 1.97% decline over the past 7 days. The top five L2s by TVL are:
– Arbitrum One: $16.29B (-2.63%)
– Base: $1.396B… — CoinRank (@CoinRank_io) February 1, 2025
Ethereum ($ETH) Sees 1.97% Slump in L2 TVL
CoinRank recently revealed the TVL of the top five L2s in a post. The blockchain analytics platform stated that Ethereum’s L2 TVL has decreased in the past few days. With a 1.97% decline over the week, the current TVL stands at $43.29 billion. This indicates a growing volatility in the market and reflects a cautious sentiment among users and investors.
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%. Additionally, OP Mainnet has experienced a 5.69% decline, reaching a TVL level of $6.41 billion. On the other hand, the other three L2 networks have seen slight increases in TVL. Base’s TVL is now $1.396 billion, indicating a growth of 0.009%. ZKzyncEra’s current TVL is $1.16 billion, recording a significant increase of 3.82%. Moreover, Starknet’s TVL of almost $878 million points to a rise of 3.28%.
L2 TVL Decline Parallels Ethereum’s Recent Price Decrease
Currently, the price of $ETH is trading at $3,267.73, with a 0.92% increase over the past 24 hours. However, its performance over the past seven days shows a decline of 0.67%. Furthermore, it has experienced a 4.85% decrease over the past month. The decrease in L2 TVL reflects a reluctance among investors, but it is likely a short-term dip in activity. Positive market developments and macroeconomic conditions have the potential to shift the momentum.