While Ethereum’s price has soared, DeFi activity on its layer-1 is dwindling, with fees dropping by 44% in August to 44 million USD. Layer 2s, however, showcase robust growth, with Arbitrum and Base achieving total value locked (TVL) of 20 billion USD and 15 billion USD, respectively.
AJ Warner, the chief strategy officer at Offchain Labs, emphasizes that Ethereum serves as a secure global settlement layer, while L2s like Arbitrum facilitate faster and cheaper transactions. This shift in activity is indicative of an evolving multi-layered financial ecosystem, attracting diverse DeFi strategies.
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