NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

Ethereum L2 TVL Enjoys 284% Growth In The Past Month Ahead Of Goerli Merge

Anifowoshe Ibrahim
Anifowoshe Ibrahim
2 years ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Total value locked (TVL) on Optimism, a layer-2 scaling solution for the Ethereum blockchain, has increased 284% in the last month, according to data from DefiLlama. Users lending and borrowing assets on Aave through Optimism’s layer-2 chain make up the vast majority of TVL.

Ethereum Optimism TVL Surges

In anticipation of The Merge update, which will see the blockchain switch from a proof-of-work network to one based on proof-of-stake, investors have been bidding up digital assets tied to the Ethereum ecosystem.

The merge will be tested by Ethereum developers on the Goerli testnet on Thursday, August 11. If everything goes according to plan, the mainnet merging will be approved on September 19. The mainnet merge would probably be delayed if there are issues with the Goerli merge.

The Merge’s anticipated launch date has been set for September 19, according to a recent Ethereum developer call. With Rollups, or off-chain computations, Optimism, an Ethereum layer-2 blockchain, aims to extend the ecosystem and expedite transactions. On Optimism, transactions are entered, and on Ethereum, they are completed.

ethereum

ETH/USD trades at $1,853. Source: TradingView

The project is home to 35 protocols, including automated market maker Velodrome, decentralized exchange Uniswap, and derivatives exchange Synthetix. The Ethereum blockchain’s current capacity of 30 transactions per second is inadequate to manage the enormous amount of user trade orders on exchanges (including cancellations). Nevertheless, according to some analysts, the network might scale to 100,000 transactions per second with The Merge upgrade, with layer-2 solutions improving this capacity even further.

Related Reading

Uniswap price

Uniswap Price Falls Below $9 After It Met With A Sell-Off, What’s Next?

2 years ago

Optimism blocks are constructed and executed on layer-2 while user transactions are batched up and submitted to the Ethereum layer-1. On layer-2, transactions are immediately accepted or rejected with no mempool, enabling a fast user experience. Correspondingly to the TVL development, the project’s namesake tokens have also rallied by 300% during the same period.

Dai on Optimism ?

From 30 million to 140 million in 5 days. pic.twitter.com/AQlNWvX6c9

— Maker (@MakerDAO) August 9, 2022

Goerli Testnet: A Brief

The Ethereum network will be one step closer to its biggest update yet in less than 24 hours. The second-largest cryptocurrency by market capitalization has been preparing to switch from Proof-of-Work (PoW) to the significantly less energy-intensive and, in some people’s opinions, more decentralized Proof-of-Stake for years (PoS).

Senior Ethereum developers stated last month that the so-called “Merge” to “Ethereum 2.0” will occur on September 19. However, there is still a challenge for developers to overcome before the “Merge” can be implemented on Ethereum’s mainnet.

Developers want to implement the merging on one last testnet after completing the switch from PoW to PoS on two of Ethereum’s main testnets (Ropsten and Sepolia) in June and July.

From its mid-July lows under $1,000, Ethereum has increased by more than 80%, and at last check, it was trading in the mid-1,800s. While most of this has coincided with a larger cryptocurrency market rebound amid an uptick in macro mood (Bitcoin is up over 25% from its mid-July lows), analysts have indicated that anticipation ahead of the merger has been a key tailwind driving ETH higher.

Related Reading

crypto

Why Are Crypto Investors Rotating From Bitcoin To Altcoins?

2 years ago
Featured image from iStock Photo, chart from TradingView.com
Tweet123Share196ShareSend
Anifowoshe Ibrahim
Anifowoshe Ibrahim

Anifowoshe Ibrahim

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum Flexes Muscle

Ethereum Flexes Muscle, Outperforms Bitcoin Amid Market Momentum

Ethereum price started a fresh increase above the $3,020 zone. ETH is now consolidating gains and might correct lower toward...

Aayush Jindal 14 hours ago
Ethereum

Ethereum Forms ‘Pure Cup And Handle’ Pattern After Hitting $3,000, Analysts Set New Targets

Ethereum’s price action in the past seven days has seen it finally touch the $3,000 resistance zone for the first...

Scott Matherson 21 hours ago
SharpLink Gaming Buys $73M in Ethereum – Smart Money Loads the Dip

SharpLink Gaming Buys $73M in Ethereum – Smart Money Loads the Dip

Ethereum is undergoing a critical test after breaking above the key $2,850 resistance level and reaching a local high of...

Sebastian Villafuerte 22 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum

Ethereum Rips Through Thin Zone: A Loud Move After Weeks of Silence

Godspower Owie 1 hour ago
Altcoin season start doordat Ethereum boven presteert en Bitcoin dominantie daalt

Altcoin season start doordat Ethereum boven presteert en Bitcoin dominantie daalt

Lars Diederiksen 2 hours ago
SharpLink Gaming Buys Another $19.5M In Ethereum: Institutional Accumulation Continues

SharpLink Gaming Buys Another $19.5M In Ethereum: Institutional Accumulation Continues

Sebastian Villafuerte 5 hours ago

Premium Sponsors

Press Releases

  • 2 криптовалути с небесни оценки...

    2 hours ago
  • 仮想通貨プレセール|ビットコイン向け最速かつ唯一の本格レイヤー2が300万ドル突破

    ...

    2 hours ago
  • 仮想通貨おすすめ|高騰中の評価額がリスクに見合うかもしれない3つの暗号資産

    ...

    3 hours ago
  • 新しい仮想通貨|ビットコインの強気相場に乗るための注目トークン

    ...

    3 hours ago
  • ビットコインの上昇と規制強化を受けて今注目のアルトコイン

    ...

    3 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

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.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 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.