Ethereum Layer-2 Networks Hit New Highs in Total Value Locked Despite Crypto Bear Market
-
Ethereum layer-2 networks reached $13B in total value locked (TVL), a new high, despite the crypto bear market.
-
Experts say interest in layer 2s will likely continue due to Ethereum's high fees, but challenges around user experience and decentralization remain.
-
Layer 2 growth accelerated after June 15 as gas fees priced people out of Ethereum layer 1.
-
Marketing efforts by layer 2 teams have driven user activity and high yields, attracting DeFi users.
-
While layer 2s address scalability, they can sacrifice decentralization via centralized sequencer nodes.