Arbitrum One: First Layer-2 to Reach $20 Billion in TVL

Arbitrum Reaches $20 Billion in Total Value Locked (TVL)

Arbitrum, a prominent cryptocurrency network, has officially announced that its layer-2 platform has reached a remarkable milestone of $20 billion in total value locked (TVL). This achievement was shared by Arbitrum through a post on its official account on December 3, 2024, marking a significant moment in the growth of the Arbitrum network.

Key Milestone for Arbitrum One

Arbitrum One, the first layer-2 (L2) platform, has now become the first in its category to hit the $20 billion mark in TVL. According to the post, the platform could potentially see even greater growth, with a forecasted increase of up to 14.2%, bringing the platform to new heights.

As Arbitrum highlighted in its post:

“Arbitrum One has just become the first L2 to hit $20 billion in TVL. We did this by innovating together, with Stage 2 horizon and ecosystem growth happening in all verticals. The sky’s the limit for how far we can scale. Accelerate.”

Arbitrum’s Impressive TVL Breakdown

According to L2Beat data, Arbitrum One’s $20 billion in TVL is composed of the following:

• $6.64 billion in canonical assets
• $5.32 billion in external assets
• $8.12 billion in native assets

This significant milestone leaves Arbitrum ahead of its competitors in the layer-2 space, including:

• Base: $12.4 billion
• OP Mainnet: $8.56 billion
• Blast: $1.55 billion

Arbitrum’s Leading Tokens

On the Arbitrum platform, ARB stands out as the highest native minted value, with around $4.3 billion. It is closely followed by USD Coin (USDC), which holds a value of $2.2 billion.

Stage 2 of Arbitrum One

While Arbitrum One has reached this incredible milestone, it is important to note that Stage 2 of the platform’s development is still ongoing. There are a few issues that need to be addressed, including:

• Fraud-proof submission
• Upgrades unrelated to on-chain processes
• Actions taken by the security council, which are not confined to on-chain activities

Arbitrum’s Commitment to AI Growth

In addition to its growth in the blockchain space, Arbitrum is also actively promoting the expansion of the artificial intelligence (AI) industry. The Arbitrum Foundation is backing AI initiatives with a $1 million grant for the Arbitrum Network.

One such initiative is the Trailblazer AI Grant, which aims to support developers and creators building AI agents on Ethereum layer-2. This initiative is expected to bring a wave of innovation to the platform, with projects ranging from non-fungible tokens (NFTs) to ERC20 tokens.

Eligible projects in the AI space will receive a reward of $10,000, unlocking further potential for layer-2 networks like Arbitrum. This strategic move not only helps accelerate AI growth but also expands the possibilities for applications on Arbitrum.

Unlocking the Future of Layer-2 with AI

The focus on artificial intelligence could further unlock the vast potential of Arbitrum’s layer-2 technology, positioning it as a key player in both the blockchain and AI spaces. This initiative will likely open doors to thousands of new applications and contribute to Arbitrum’s continued success and scalability in the cryptocurrency market.