Ethereum price outperforms other L1 networks

1 year ago

Ethereum’s (ETH) terms show has outperformed those of different starring layer1 networks successful the past 7 days, posting returns of implicit 10% against Bitcoin (BTC), according to information analyzed by CryptoSlate.

According to the Glassnode data, lone Ethereum and Polygon’s MATIC posted affirmative returns against Bitcoin during the week. Meanwhile, Solana (SOL) concisely saw affirmative gains during the week earlier declining, portion different layer1 similar Binance (BNB), Polkadot (DOT), and Cosmos (ATOM) each saw antagonistic returns passim the week.

In the past 7 days, CryptoSlate information shows that ETH recorded an awesome 18.73% gain, pushing its worth supra the $1,500 people for the archetypal clip successful the past 30 days connected Oct. 25. This terms show besides concisely made ETH the 50th astir invaluable plus successful the world.

Compared to ETH’s past 7 days’ performance, different layer1 networks similar SOL, ATOM, and MATIC posted a affirmative instrumentality of 12.49%, 17.86%, and 15.35%, respectively. At the aforesaid time, BNB and DOT saw little than 10% gains.

Meanwhile, BTC lone recorded gains of 7.53% successful the past 7 days.

Ethereum layer2 TVL soars supra $5B

Layer2 networks connected Ethereum person seen the full worth of assets locked successful the ecosystem transverse $5 cardinal owed to the caller marketplace rally, according to L2Beat data.

TVL roseate by 9.34% successful the past 7 days to $5.03 billion. The ecosystem crossed $5 cardinal connected Oct. 26, erstwhile ETH’s worth was trading supra $1,500.

This means the assets locked successful Ethereum layer2 web are connected par with that locked successful different blockchain networks similar Binance Smart Chain and Tron, which are astir $5 billion.

Arbitrum One and Optimism relationship for implicit 80% of the TVL. The information showed that Arbitrum has implicit 50% of the TVL with $2.54 cardinal worthy of assets locked successful it, portion Optimism has a $1.59 cardinal value.

Meanwhile, layer1 blockchain networks similar Solana, Cardano, Algorand, etc., person a TVL that is little than $1 billion, respectively, according to DeFillama data.

The station Ethereum terms outperforms different L1 networks appeared archetypal connected CryptoSlate.

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