This Is The Latest Ethereum Layer 2 Protocol to Surpass the $1 Billion TVL Mark

Scroll, a ZK rollup Layer 2 community, is up 23% over the previous seven days to achieve a TVL of $1.03 billion, in response to L2Beat knowledge.

In the meantime, the entire worth locked for all Ethereum Layer 2s is up 12.04% during the last week to achieve $42.04  billion.

Scroll Hits $1 Billion TVL

Scroll has grow to be the eighth Ethereum Layer 2 community to surpass a TVL of $1 billion. Of this whole worth, ETH accounts for 87.29%, stablecoins 11.11%, and different property 1.60%.

The community has lately garnered vital consideration, constantly rolling out options since its launch in October 2023. The most recent, Scroll Canvas, permits customers to gather and show achievements, standing, and on-chain credentials inside the ecosystem.

One other initiative, ‘Session One,’ incentivizes liquidity by awarding factors to DeFi customers who present liquidity on decentralized exchanges like Ambient and Nuri. Moreover, customers can earn Scroll Marks by depositing property into lending protocols equivalent to Aave.

Scroll, although among the many high chains in Whole Worth Locked (TVL) in DeFi, doesn’t have its personal token. In keeping with CoinGecko knowledge, tokens on Scroll, largely in wrapped format, have elevated in value.

Wrapped stETH (WSTETH) is main in buying and selling quantity, with a ten% improve within the final week. Following intently are Bridged USD Coin (Scroll) and Bridged Wrapped Ether (Scroll).

In the meantime, contributors are inspired to bridge ETH and wstETH via the native bridge and STONE utilizing LayerZero to Scroll. No further transactions or actions are required for these aiming for Session Zero eligibility. This streamlined strategy makes it simple for customers to learn from the community’s rewards.

ETH Layer 2 Networks Exercise Will increase

Over the previous week, Ethereum Layer 2 networks have typically skilled elevated exercise, up 12.04%. Arbitrum One led the pack with a TVL of $16.85 billion, marking an 11.91% rise over the week.

Base adopted with $6.87 billion, a 7.53% lower, whereas OP Mainnet holds $6.42 billion, a 16.55% improve. Blast has $2.67 billion, up by 10.33% throughout the identical interval. Mantle rounds out the highest 5 with $1.24 billion, rising by 15.07%.