Ethereum L2 adoption in May 2023: scaling factor, TPS and TVL
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L2BEAT-based data thread: L2 scaling factor versus L1, rising L2 activity, and TVL roughly doubling YTD. Optimistic rollups hold most TVL, and zk-rollups are expected to gain share as adoption grows.
Key claims
Scaling factor 3.66 (peak 3.96): L2 TPS 29.67 versus L1 TPS 11.74
L2 TVL USD 8.66bn versus 4.13bn at end of 2022
Arbitrum and Optimism hold 85.6% of L2 TVL
0/ rollups have been gaining a lot of traction over the past few months 馃殌
this is evidenced by TVL & activity data 馃搳
a brief data-driven 馃У on the adoption of L2 solutions on Ethereum using data from @l2beat馃憞
1/ the scaling factor of Ethereum L2s has steadily increased over the last year, peaking at 3.96 and currently standing at 3.66 馃搱
the scaling factor is calculated as follows:
馃搳 Scaling Factor = total L2 TPS (29.67) / Ethereum L1 TPS (11.74)
2/ what is important to note here though is that Ethereum is running at full capacity with TPS at 10-20
L2s on the other hand are not even close to full utilization yet and have much more capacity
hence, total L2 TPS will continue to rise as adoption increases
3/ overall, 30d transaction count on L2s is already much higher than on #Ethereum L1
and especially @rhinofi, @zksync era + lite, @0xPolygon zkEVM & @ImmutabIeX's validium have seen significant increases in TPS over the past 7 days
4/ total value locked (TVL) on L2 has also seen continuous growth that accelerated in 2023
currently, total L2 TVL stands at USD 8.66bn, having roughly doubled YTD compared to a TVL of USD 4.13bn on 31st of December 2022
5/ currently, most TVL sits on optimistic rollups L2s with @arbitrum & @optimismFND accounting for 85.6% market share
however, emerging #zk-rollups like @zksync, @0xPolygon or #Starknet will grow in terms of market shares quickly as adoption increases
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