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TVL on Ethereum layer 2 climbs to new all-time high By BTC Peers

by Mike Robinson

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TVL 2 on Ethereum Layer 2 rises to new high

A new record high for layer 2 protocol TVL (total value locked) is $6.59B.

The demand for layer 2 (L2) protocols has continued to grow amid Ethereum’s high gas fees. L2 analytics platform L2beat reports that the TVL across different L2 protocols reached an all-time high at $6.59 Billion, up nearly 20% over the past seven days.

L2 scaling solutions provide a temporary fix to Ethereum’s high gas fees and low transaction throughput. You get a greater transaction throughput, and lower transaction costs.

In the last few months, these protocols have seen increased popularity. Their adoption rate has risen to 98 percent in November.

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