Ethereum L2 Scaling Solutions Surpass $37B in TVL

Ethereum's scaling upgrades are yielding impressive results, as evidenced by recent on-chain data. With peak usage reaching an all-time high of 1.8 million transactions per week and a median transaction fee at an all-time low of $0.008, the network is processing more transactions cheaply.

The surge in activity has been driven by Ethereum's Layer 2 (L2) scaling solutions, which have seen significant adoption. Total Value Locked (TVL) on L2s now stands at $37.41 billion, with Base Chain leading the charge, holding around $11.86 billion in TVL.

Other notable L2s include Arbitrum One and Optimism, both of which have seen substantial growth in transactions and TVL. The increase in activity on L2s is a clear indication that Ethereum's scaling upgrades are working as intended.