Markets News Report
January 02, 2024

Arbitrum One’s TVL Hits $10 Billion, Sets New Record High

In Brief

Arbitrum One’s TVL reached $10 billion for the first time achieving a record high and showcasing a 10.50% increase in the past week.

Arbitrum One TVL Achieves Record High, Hits $10 Billion

Arbitrum One‘s total value locked (TVL) achieved a record high, reaching $10 billion for the first time, representing a 10.50% increase in the past week. As of now, the total TVL for the Ethereum Layer 2 network stands at $20.82 billion, with Arbitrum One accounting for  48.03%, according to data from L2Beat.

Arbitrum One is an Optimistic Rollup that replicates the Ethereum experience with reduced transaction costs on Layer 1.  

As stage one optimistic rollup, it features a deployed and functional proof system, accepts fraud proofs from a minimum of 5 external actors, enables user exits without reliance on permissioned operators, has a properly established Security Council and allows a 7-day exit window in the event of an unwanted upgrade by actors more centralized than a Security Council.

Arbitrum One TVL Achieves Record High, Hits $10 Billion

Arbitrum, developed by Offchain Labs, stands as one of Ethereum’s largest scaling solutions, hosting approximately 470 deployed apps on its network. In March 2023, Arbitrum ecosystem introduced the ARB token as a governance token for the Arbitrum One and Arbitrum Nova users. 

In the previous month, Arbitrum One encountered a disruption when the sequencer experienced a “stall” due to a “significant surge in network traffic,” as reported in an alert on Arbitrum’s official status page. The outages were attributed to inscriptions, as later confirmed by the team. However, the system was restored online after a two-hour period.

The Arbitrum One performance highlights its growing role in the evolving cryptocurrency landscape, indicating the increased public interest and involvement in cryptocurrency investments.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

Hot Stories
Join Our Newsletter.
Latest News

The DOGE Frenzy: Analysing Dogecoin’s (DOGE) Recent Surge in Value

The cryptocurrency industry is rapidly expanding, and meme coins are preparing for a significant upswing. Dogecoin (DOGE), ...

Know More

The Evolution of AI-Generated Content in the Metaverse

The emergence of generative AI content is one of the most fascinating developments inside the virtual environment ...

Know More
Join Our Innovative Tech Community
Read More
Read more
Crypto Exchange Upbit To List BIGTIME And Akash Network’s AKT Tokens For Trading
Markets News Report Technology
Crypto Exchange Upbit To List BIGTIME And Akash Network’s AKT Tokens For Trading
April 23, 2024
Othentic Raises $4M Funding From Breyer Capital To Advance Development Of Modular Networks In Shared Security Environment
Business News Report Technology
Othentic Raises $4M Funding From Breyer Capital To Advance Development Of Modular Networks In Shared Security Environment
April 22, 2024
Celo Developer cLabs Proposes Launch Of Its Ethereum Layer 2 Solution On Optimism’s OP Stack
News Report Technology
Celo Developer cLabs Proposes Launch Of Its Ethereum Layer 2 Solution On Optimism’s OP Stack
April 22, 2024
ICON Integrates Its Cross-Chain DEX Balanced With Injective, Announces Regular INJ Token Purchases
Business News Report Technology
ICON Integrates Its Cross-Chain DEX Balanced With Injective, Announces Regular INJ Token Purchases
April 22, 2024