This is the latest Ethereum Layer 2 protocol to break the billion dollar TVL mark

Scroll, a ZK Rollup Layer 2 network, has surged 23% over the past seven days to reach a TVL of $1.03 billion, according to data from L2Beat.

Meanwhile, the total value locked for all Ethereum Layer 2 has increased by 12.04% over the past week to reach $42.04 billion.

Scroll hits $1 billion TVL

Scroll has become the eighth Ethereum Layer 2 network to surpass a billion dollar TVL. Of this total value, ETH represents 87.29%, stablecoins 11.11% and other assets 1.60%.

Recently, the network has gained significant attention, continuously rolling out features since its launch in October 2023. The latest, Scroll Canvas, allows users to collect and display achievements, status and on-chain credentials within the ecosystem.

Another initiative, ‘Session One’, incentivizes liquidity by awarding points to DeFi users who provide liquidity on decentralized exchanges such as Ambient and Nuri. Additionally, users can earn Scroll Marks by depositing assets into lending protocols such as Aave.

Scroll, although among the leading Total Value Locked (TVL) chains in DeFi, does not have its own token. According to CoinGecko data, tokens on Scroll, mostly in wrapped format, have increased in price.

Wrapped stETH (WSTETH) leads the trading volume, with a 10% increase in the last week. Next is Bridged USD Coin (Scroll) and Bridged Wrapped Ether (Scroll).

Meanwhile, participants are encouraged to connect ETH and wstETH via native bridge and STONE via LayerZero to move. No additional transactions or activities are required for those seeking Zero Session eligibility. This streamlined approach makes it easy for users to benefit from the network’s rewards.

Increase the activity of ETH Layer 2 networks

Over the past week, Ethereum Layer 2 networks have seen an overall increase in activity of 12.04%. Arbitrum One led the pack with a TVL of $16.85 billion, marking an 11.91% increase for the week.

Base followed with $6.87 billion, down 7.53%, while OP Mainnet has $6.42 billion, up 16.55%. Blast has $2.67 billion, up 10.33% over the same period. Mantle rounds out the top five with $1.24 billion, up 15.07%.

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