Ethereum (ETH) Layer 2 Networks’ Total Value Locked Hovers at Near-Record High, Data Shows

As ether’s price rose in April, so did the total value locked (TVL) of Ethereum ( $1,900.68 ) layer 2, or companion, networks, reaching $10 billion on April 14, its highest level yet. TVL has subsequently declined amid a swoon in crypto prices but remains at around $9.29 billion, more than double where it stood at the start of the year, data from layer 2 analytics site L2Beat shows.