Ethereum Layer2 Witnesses an 11.08% Decrease in Lock-up Volume in the Last 7 Days
According to reports, L2BEAT data showed that the total lock-up volume on Ethereum Layer2 was US $5.48 billion, down 11.08% in the past 7 days. Among them, the…
According to reports, L2BEAT data showed that the total lock-up volume on Ethereum Layer2 was US $5.48 billion, down 11.08% in the past 7 days. Among them, the largest lock-in volume is the expansion plan Arbitrum One, which is about $3.1 billion, accounting for 56.6%, followed by Optimism, which is $1.58 billion, accounting for 28.85%, and dydx, which is the third, with a lock-in volume of $291 million, accounting for 5.31%.
The total lock-up volume of Ethereum Layer 2 fell to $5.48 billion
Analysis based on this information:
The L2BEAT data has recently reported that the total lock-up volume on Ethereum Layer2 has plummeted by 11.08% over the past 7 days. Layer2 is known for its ability to resourcefully assimilate transactions and settlement details at a faster rate and with lower fees than Ethereum. The lock-up volume indicates the total amount of assets that have been deposited into smart contracts on Ethereum Layer2, which is a prominent indicator of the level of confidence investors have in the network.
The data, collected by L2BEAT, has estimated that the total lock-up volume is currently at US $5.48 billion. Creation of the expansion plan Arbitrum One has recorded the highest volume lock-in with around $3.1 billion, accounting for 56.6% of the entire lock-up volume on the network. This was trailed by Optimism with $1.58 billion, accounting for 28.85% of the lock-up volume, and dydx with a lock-in volume of $291 million, with 5.31% of the total lock-up volume.
The decrease in lock-up volume on Ethereum Layer2 over the past 7 days can be analyzed in various ways. The decline of the lock-up volume in Layer2 could be traced back to the recent dip in the price of cryptocurrencies, especially Ethereum. As a result, numerous investors are apprehensive about depositing their assets into the concerns of risking financial losses.
Moreover, the decrease could be explained by the transfer of funds from the Layer2 network to other networks. Many investors maneuver their assets due to changes in the market, preferences of payment methods, and user experience. The movement of a considerable number of these assets could decrease the lock-up volume on the Ethereum Layer2 network.
In conclusion, the Ethereum Layer2 has observed a decrease in lock-up volume over the past week. This information may be indicative of a decline in investor confidence on the network, explaining how the movements of market prices and asset preferences impact the performance of the network. However, more monitoring of network activity is required to establish a definite cause of the change.
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