Ethereum
This is the latest Ethereum Layer 2 protocol to surpass the $1 billion TVL mark
Scroll, a ZK rollup Layer 2 network, grew 23% over the past seven days to reach a TVL of $1.03 billion, according to data from L2Beat.
Meanwhile, the total value locked for all Ethereum Layer 2 has increased by 12.04% over the past week to $42.04 billion.
Scroll hits $1 billion in revenue
Scroll has become the 8th Ethereum Layer 2 network to exceed a TVL of $1 billion. Of this total value, ETH represents 87.29%, stablecoins 11.11% and other assets 1.60%.
The network has garnered considerable attention recently, continually rolling out features since its launch in October 2023. lastScroll Canvas allows users to collect and display achievements, status, and credentials on-chain within the ecosystem.
Another initiative, “Session One,” incentivizes liquidity by awarding points to DeFi users who provide liquidity on decentralized exchanges like Ambient and Nuri. Additionally, users can earn Scroll Marks by depositing assets into lending protocols like Aave.
Scroll, despite being among the leading Total Value Locked (TVL) chains in DeFi, does not have its own token. According to CoinGecko dataTokens on Scroll, mainly in wrapped format, have increased in price.
Wrapped stETH (WSTETH) leads the way in terms of trading volume, with a 10% increase in the past week. Bridged USD Coin (Scroll) and Bridged Wrapped Ether (Scroll) follow closely behind.
At the same time, participants are encouraged to fill ETH and wstETH via the native bridge and STONE using LayerZero to scroll. No additional transactions or activities are required for those aiming for Session Zero eligibility. This simplified approach makes it easy for users to benefit from the network’s rewards.
ETH Layer 2 Network Activity Increases
Over the past week, Ethereum Layer 2 networks have generally experienced increase activity, up 12.04%. Arbitrum Un directed the pack with a TVL of $16.85 billion, marking an increase of 11.91% over the week.
Base follows with $6.87 billion, down 7.53%, while OP Mainnet holds $6.42 billion, up 16.55%. Blast holds $2.67 billion, up 10.33% over the same period. Mantle rounds out the top 5 with $1.24 billion, up 15.07%.