Arbitrum One's Total Value Locked Surpasses $20 Billion

According to PANews, Arbitrum One has achieved a significant milestone by becoming the first Layer 2 (L2) network to surpass a total value locked (TVL) of $20 billion. Data from L2beat indicates that Arbitrum One's TVL increased by 15.6% over the past 24 hours, maintaining its position as the leading L2 network. In addition to Arbitrum One's impressive growth, other L2 networks have also experienced notable increases in their TVL. Base, OP Mainnet, Blast, ZKSync Era, and Starknet have all seen significant growth in their respective TVLs. Base has reached a TVL of $12.4 billion, OP Mainnet stands at $8.66 billion, Blast has achieved $1.57 billion, ZKSync Era has reached $1.3 billion, and Starknet has a TVL of $1.13 billion. These developments highlight the growing adoption and expansion of L2 networks, which are designed to enhance scalability and reduce transaction costs on blockchain platforms. The increasing TVL across these networks reflects a broader trend of users and developers seeking more efficient and cost-effective solutions for blockchain transactions.