• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Coinbase Caught In SEC Legal Crossfire, COIN Price Suffers
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Caught In SEC Legal Crossfire, COIN Price Suffers
Ethereum Layer 2

Arbitrum, Optimism, And Polygon: Which Is The Ultimate Ethereum L2?

Best Owie by Best Owie
2 months ago
in Ethereum
Reading Time: 3 mins read

Ethereum Layer 2 (L2) blockchains are heating up in the crypto industry as they provide a very needed service to investors. These L2s make it so transaction on the Ethereum network is very cheap compared to the Layer 1 blockchain.

There are already a number of L2 blockchains that are now competing for market share on the Ethereum blockchain. Out of these, the top 3 are Polygon, Arbitrum, and Optimism, all of which have seen tremendous support in the market. In this report, we take a look at these L2s to determine which is the best performer.

Looking At Ethereum Layer 2 Blockchains

The top 3 Ethereum Layer 2 blockchains are doing quite well and their total value locked (TVL) has grown since their inception. However, there has been a wide gap when it comes to usage, as well as a difference in the TVL on the blockchain.

Arbitrum, although the last to gain widespread popularity, has surged ahead of the rest in terms of TVL and usage. The L2 currently boasts the fourth largest TVL in the whole of decentralized finance (DeFi) with over $2.2 billion locked so far.

Related Reading: Six Million Bitcoins Now Lost Forever? Why This Matters

For comparison, Polygon is the second-best performing Layer 2 network but it only has around $1.07 billion in TVL, over 50% lower than that of Arbitrum. Furthermore, Optimism is the lowest performer of the three but it is not far behind Polygon with a TVL of $923 million.

When it comes to usage, Arbitrum is still way ahead of the rest with a 24-hour volume of $583 million compared to $148 million for Polygon and $38 million for Optimism.

Arbitrum, Optimism, and Polygon Ethereum Layer 2

Arbitrum volume outpaces all other L2 | Source: DeFiLlama

Arbitrum, Optimism, And Polygon Token Performance

With Arbitrum’s airdrop last week, the top 3 Ethereum Layer 2 blockchains all have tokens now, which means their performances can be compared to one another. Some have done better than others, but the margin remains quite narrow.

Optimism (OP) price chart from TradingView.com

OP price performs best of the top 3 ETH L2 | Source: OPUSD on TradingView.com

Presently, the price of Arbitrum (ARB) is sitting at $1.26, rising 10% in the last day, but it is not the only one that has achieved this fear. Optimism (OP) has done even better, surging over 10.39% in the same time period to cross $2.28.

Related Reading: Bitcoin In Free Fall As Regulators Turn Their Attention To Binance

Polygon (MATIC) is the worse performer of the bunch in this regard with 8% gains that have brought its price to $1.14. However, MATIC remains the largest out of the three with a market cap of $10.35 billion compared to $1.6 billion for ARB and $716 million for OP.

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from InvestingCube, chart from TradingView.com
Tags: ARBArbitrumETHethereumMATICOPoptimismPolygon
Tweet123Share196ShareSend
Best Owie

Best Owie

Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors. Best is a true professional in every sense of the word with an exceptional dedication to producing high-quality work.

Related Posts

Ethereum Security Jack Dorsey

Former Twitter CEO Claims Ethereum Is A Security, Will This Affect Prices?

7 hours ago
Ethereum Whale

Ethereum Top 10 Whales Now Hold 31.8M ETH, A New All-Time High

2 days ago
Ethereum staking

LSD Tokens Rally As Ethereum Staking Ramps Up, Here Are The Leaders

5 days ago
Ethereum (ETH)

Ethereum Fees Plunge 69% From Yearly High, What This Means For ETH

6 days ago
Ethereum

Did The US SEC Just Endorse Ethereum After This Settlement?

6 days ago
Ethereum

Ethereum Correction: Key Level Break Can Shift Price Course

1 week ago

Premium Partners

Play Finance

Now Trending

  • Potential 20x+ Crypto Presales 2023

    6 days ago
  • Willing to buy new crypto: Here are the best 10...

    7 days ago
  • Best Crypto Meme Coin Presales in 2023

    7 days ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • Crypto Enthusiast Considers TMS Network (TMSN) A Great...

    2 hours ago
  • Kava vs. AltSignals. Which Token Has a Better Chance To 10x...

    2 hours ago
  • Investors Troop To Sparklo (SPRK) Amid Binance Coin (BNB)...

    3 hours ago
  • Can Mooky.io Outpace Dogelon Mars (ELON) and Big Eye Coin...

    13 hours ago
  • Is Mooky the Next Breakout Star after the Impressive Gains...

    13 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.