New Record from Ethereum! Has the Return to ETH Begun?

Ethereum seen as rival Avalanche (AVAX) and Solana (SOL) Due to the increase in prices, ETH has remained dull in recent months.

While AVAX and SOL prices rose rapidly, ETH’s poor performance caused many to interpret this situation as “ETH death”.

Ethereum Broke a Record!

But a comeback to Ethereum may be starting. For According to data shared by the L2beat platform, ETH TVL value exceeded 21 billion dollars.

This includes the total value of assets locked in ETH layer two networks exceeding $21 billion on January 5.

Ethereum TVL has increased by 33% over the past month and has grown by up to 333% from the approximately $4.8 billion TVL at the beginning of January 2023.

Commenting on this increase, analysts said that the increase is a new milestone for Ethereum-based layer-2s.

Arbitrum Ranked First!

It attracted great attention from investors with the news of airdrop in 2023 and a big increase in its price is expected. Arbitrum took market leadership with approximately $10 billion in layer 2 TVL.

Receiving almost 50% share in TVL among Tier 2 projects ARB, having the highest share altcoin It was a project.

It ranks second after Arbitrum, with a TVL of 5.8 billion dollars and a market share of 28.7%. Optimisim (OP) took place.

Ranked third and fourth after ARB and OP Metis Andromeda and Base While the TVL values ​​of both were found to be approximately 750 million dollars.

Using the pseudonym Metaquant as Ethereum TVL breaks records cryptocurrency Analyst stated.

“According to TVL data, the return to ETH from Tier-1 altcoins has begun – ETH season is heating up.”

Faced with this data, market analysts ETH While sharing his price predictions, analyst named CrediBULL Crypto EthereumHe claimed that the minimum value will be 10,000 dollars in 2024.

High end? 20k. Minimum? 10k.$ETH https://t.co/x6rqMzfypd

— CrediBULL Crypto (@CredibleCrypto) January 5, 2024

*This is not investment advice.