Ethereum’s (ETH) value efficiency has outperformed these of different main layer1 networks within the final seven days, posting returns of over 10% towards Bitcoin (BTC), in keeping with knowledge analyzed by CryptoSlate.
In response to the Glassnode knowledge, solely Ethereum and Polygon’s MATIC posted optimistic returns towards Bitcoin through the week. In the meantime, Solana (SOL) briefly noticed optimistic features through the week earlier than declining, whereas different layer1 like Binance (BNB), Polkadot (DOT), and Cosmos (ATOM) all noticed destructive returns all through the week.
Within the final seven days, CryptoSlate knowledge reveals that ETH recorded a powerful 18.73% achieve, pushing its worth above the $1,500 mark for the primary time within the final 30 days on Oct. 25. This value efficiency additionally briefly made ETH the fiftieth Most worthy asset on the planet.
In comparison with ETH’s final seven days’ efficiency, different layer1 networks like SOL, ATOM, and MATIC posted a optimistic return of 12.49%, 17.86%, and 15.35%, respectively. On the similar time, BNB and DOT noticed lower than 10% features.
In the meantime, BTC solely recorded features of seven.53% within the final seven days.
Ethereum layer2 TVL soars above $5B
Layer2 networks on Ethereum have seen the entire worth of property locked within the ecosystem cross $5 billion as a result of current market rally, in keeping with L2Beat data.
TVL rose by 9.34% within the final seven days to $5.03 billion. The ecosystem crossed $5 billion on Oct. 26, when ETH’s worth was buying and selling above $1,500.
This implies the property locked in Ethereum layer2 community are on par with that locked in different blockchain networks like Binance Good Chain and Tron, that are round $5 billion.
Arbitrum One and Optimism account for over 80% of the TVL. The information confirmed that Arbitrum has over 50% of the TVL with $2.54 billion value of property locked in it, whereas Optimism has a $1.59 billion worth.
In the meantime, layer1 blockchain networks like Solana, Cardano, Algorand, and so on., have a TVL that’s lower than $1 billion, respectively, in keeping with DeFillama data.
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