Arbitrum One, a Layer 2 answer for Ethereum, has accomplished a big milestone with its general worth locked (TVL) surpassing $10 billion, whilst its token value breaks a brand new document prime.

The entire worth locked on Arbitrum soared above $10 billion on January third, marking a 430% building up year-to-date, in line with information from L2BEAT. With this milestone, Arbitrum has grow to be the primary layer 2 community to pass the $10 billion threshold.

Optimism, Arbitrum’s layer 2 counterpart, follows intently in the back of with $6.3 billion in TVL. Most effective those two Layer 2 networks have TVLs exceeding 1000000000 greenbacks and lately dominate the Layer 2 marketplace.

Layer 2 protocols have grow to be extra prevalent in recent times because of their advantages like low transaction charges and prime transaction speeds. The numerous building up in TVLs on each Arbitrum and Optimism suggests a rising adoption of Layer 2 answers. Particularly, Arbitrum helps over 400 decentralized programs (dApps), in line with DeFiLlama.

Along with the TVL document, Arbitrum has notched any other milestone as its ARB token reached a brand new all-time prime of $2.09 previous nowadays, in line with information from Coingecko.

Probably the most key drivers in the back of the sturdy efficiency is Ethereum’s upcoming Dencun improve, which is anticipated to release in Q1/2024. Particularly, Dencun will introduce EIP-4844 (Proto-Danksharding) – a option to considerably scale back transaction charges on Constructive Rollups like Arbitrum and Optimism through as much as 8 instances.

Particularly, Arbitrum is gearing as much as liberate over $1 billion value of ARB tokens in March, the most important match that would affect its liquidity and marketplace dynamics.