- Arbitrum One’s TVL has reached a new record high.
- The performance comes after the network’s partial outage in December.
- The surge highlights Arbitrum One’s growing role in crypto.
Arbitrum One’s total value locked (TVL) has reached a new record high after gaining 11.49% over the past week.
Launched by Offchain Labs in 2021, Arbitrum One is among Ethereum’s largest scaling solutions, with about 470 decentralized applications (DApps) deployed on the network. Arbitrum One has its native governance token dubbed ARB.
Arbitrum One Sets Record in TVL
According to data from L2Beat, the TVL on Arbitrum One has hit almost $10 billion for the first time, reaching a historical high of $9.94 billion at the time of writing.
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The impressive performance comes after Arbitrum One experienced a two-hour partial outage on December 15 following a surge of Bitcoin Ordinals-inspired inscriptions that triggered a sequencer to stop.
Moving into 2024, the performance highlights Arbitrum One’s growing role in the crypto landscape, signaling a public interest surge and involvement in digital assets investments.
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As a stage one optimistic rollup, Arbitrum One allows users to replicate the Ethereum experience with reduced transaction costs on Layer 1. Besides having a well-established Security Council, the network features a deployed and functional proof system and accepts fraud proofs from at least five external actors.
The network also allows a 7-day exit window without reliance on permissioned operator in the event of an unpopular upgrade by actors more centralized than a security council.
Read how Arbitrum DAO voted on the project’s backfund proposal:
Arbitrum DAO Votes on $24M ARB “Backfund” Proposal
Stay updated on Arbitrum’s recent performance in terms of Ethereum layer-2 transactions:
Arbitrum Dominates Ethereum Layer-2: Daily Transactions and Volume Hit New Highs
