• Ethereum Layer 2 adoption hit an all-time excessive with 14.65 million ETH locked.
• The worth of locked ETH has elevated by 109.61% over the previous yr.
• The entire quantity locked in USD reached $33.95 billion, registering an annual enhance of 199.03%.

Ethereum's Layer 2 community is gaining momentum, with 14.65 million ETH presently locked throughout numerous protocols. Based on the most recent information from L2Beat, the locked worth has skyrocketed 109.61% over the previous yr.

Ethereum Layer 2 options are constructed to allow quicker and cheaper transaction processing in comparison with the principle Ethereum community (Layer 1). Up to now 30 days alone, the quantity of ETH locked in Layer 2 options has elevated by 6.75%, exhibiting regular progress. This week, the determine reached an all-time excessive of 14.77 million ETH, bringing its worth to over $33 billion.

“Ethereum Layer 2 is unstoppable” — High analyst

Leon Weidman, head of Onchain Insights, famous the most recent information reveals that “Ethereum Layer 2 adoption is unstoppable.” Based on Weidman, the regular enhance in locked ETH is vital to growing Ethereum’s worth, and never simply in financial phrases.

Trying on the enhance in locked ETH in USD phrases, the full worth locked (TVL) can be trending upwards: presently, Ethereum Layer 2 TVL is $33.95 billion, up 199.03% in a single yr.

Nonetheless, on a month-to-month and quarterly timeframe, the worth of the USD has declined considerably. This is because of Ethereum’s poor value efficiency over the previous six months. It is very important word that the present worth of $33.95 billion is much decrease than the height of $48.6 billion recorded in June.

Primarily, the quantity of locked ETH has been steadily growing to achieve an all-time excessive, however volatility within the cryptocurrency market has affected the USD equal.

Nonetheless, the general development stays constructive, as evidenced by the sharp enhance in worth all year long. The regular enhance in ETH locked in Layer 2 highlights rising confidence in Ethereum's scaling capabilities and the rising demand for decentralized purposes (dApps) and DeFi options inside its ecosystem.