Layer 2 Networks Surge: TVL Hits $29.88 Billion

The cryptocurrency market is witnessing a significant surge in the total value locked (TVL) on Layer 2 (L2) networks, as reported by L2 Beat. The current TVL stands at $29.88 billion, up from $28.20 billion just yesterday.

Among the top-performing L2 networks, Arbitrum leads with a TVL of $13.53 billion, compared to $13.23 billion yesterday. OP Mainnet follows, showing a substantial increase to $7.6 billion from $6.6 billion.

Manta has also seen a notable rise, with its TVL growing to $1.89 billion from $1.59 billion. Starknet has made impressive gains as well, reaching $1.38 billion from $1.01 billion.

Base rounds out the top five, with a current TVL of $938 million, up from $838 million yesterday.

In the broader cryptocurrency market, Bitcoin (BTC) has experienced a price increase, currently trading at $56,786.47, up from $51,691.47 yesterday. Ethereum (ETH) has also appreciated, with its price rising to $3,246 from $3,101.