Arbitrum One as the first layer-2 to reached $20 bilion in TVL

Arbitrum, a cryptocurrency network, has announced on its official account that its layer-2 platform has reached $20 billion in total value locked ( TVL ). Arbitrum on X’s post on Dec. 03 claimed that the first layer-2 platform could reach $20 billion in total value locked (TVL) or increase up to dou ble-digit, which specifically rises 14.2%. “Arbitrum One has just become the first L2 to hit $20 billion in TVL. We did this by inovating together, with the stage 2 horizon and ecosystem growth happening in all verticals, the sky’s the limit for how far we can scale. Accelerate,” Arbitrum mentioned on the post. According to L2Beat data , Arbitrum One achieved $20 billion in TVL with $6.64 in canonical, $5.32 billion in external, and $8.12 billion in native. This milestone also leaves the competitors behind, including Base with $12.4 billion, OP Mainnet with $8.56 billion, and Blast with $1.55 billion. Arbitrum ( ARB ) is the highest native minted value on this platform, with around $4.3 billion, followed by USD Coin ( USDC ), with a value of $2.2 billion. Stage 2 of Arbitrum One is still ongoing, and some issues need to be fixed: fraud-proof submission, upgrade unrelated to on-chain, and the security council’s action, which is not confined to on-chain. You might also like: BlackRock’s BUIDL joins Aptos, Arbitrum, Avalanche, Optimism and Polygon Arbitrum boosting AI growth Arbitrum Foundation also actively promotes the artificial intelligence (AI) industry; one of the support initiatives is a $1 million grant to Arbitrum Network. The Trailblazer AI Grant is an initiative for developers and creators who are dedicated to building AI agents on Ethereum layer-2. This artificial intelligence also helps bring thousands of applications to Arbitrum and gives the opportunity to explore projects ranging from non-fungible tokens (NFT) to ERC20 tokens. Projects that are eligible in the process will receive $10,000 as a reward. Besides that, this initiative to bring artificial intelligence to the Arbitrum would unlock the potential of layer 2. Read more: Arbitrum launches $1m grants program to bolster AI innovation