In a Nov. 9 put up on X, CoinGecko experiences Arbitrum as being the most important Layer 2 answer, with a complete of $1.79 billion in complete worth locked (TVL) in October, or 41.2% of the highest 10 L2 options market share.
Though that is nonetheless down from its yearly peak of $2.6 billion in Could 2023.
Polygon takes second
After Arbitrum, Polygon takes the second spot, with a complete of $0.78 billion in TVL over the course of October, with its yearly peak of $1.18 billion being reached in February 2023. Presently, eight months earlier, Polygon had simply undergone its V0.3.1 Hardfork improve in January 2023, lowering gasoline spikes and addressing reorganizations for the chain.
After Arbitrum and Polygon, the next L2 options so as had been Optimism, dYdX, Base, Gnosis, zkSync Period, Loopring, Ronin and Mantle.
As per the report, Base, zkSync and Mantle collectively maintain an 11.0% market share among the many high 10. Launched in March 2023, zkSync Period, and the more moderen introductions of Base and Mantle in July of the identical yr, contribute to the rising prominence of those Layer-2 options.
Taking over a job of lively involvement
Along with the market dominance information, an earlier report dated Nov. 7 highlighted the launch of three donation packages by the Arbitrum blockchain challenge in collaboration with Gitcoin Winter.
The group’s lively involvement in The Arbitrum Residents Retrofunding Spherical 1 goals to distribute 100,000 ARB to Arbinauts, who’ve performed a proactive function in influencing the governance and processes of the Arbitrum DAO, as acknowledged by the challenge workforce.
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