Ethereum’s (ETH) value efficiency has outperformed these of different main layer1 networks within the final seven days, posting returns of over 10% in opposition to Bitcoin (BTC), in keeping with knowledge analyzed by CryptoSlate.
In keeping with the Glassnode knowledge, solely Ethereum and Polygon’s MATIC posted optimistic returns in opposition to Bitcoin throughout the week. In the meantime, Solana (SOL) briefly noticed optimistic beneficial properties throughout the week earlier than declining, whereas different layer1 like Binance (BNB), Polkadot (DOT), and Cosmos (ATOM) all noticed damaging returns all through the week.
Within the final seven days, CryptoSlate knowledge exhibits 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 useful asset on the earth.
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% beneficial properties.
In the meantime, BTC solely recorded beneficial properties of seven.53% within the final seven days.
Ethereum layer2 TVL soars above $5B
Layer2 networks on Ethereum have seen the full worth of property locked within the ecosystem cross $5 billion because of the current market rally, in keeping with L2Beat knowledge.
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 Sensible 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 knowledge.
