Ethereum Layer 2 total value locked has dropped to about $5 billion, marking its lowest level since 2023, according to unfolded. The figure is down sharply from the sector’s peak of nearly $35 billion in 2024, pointing to a broad cooldown across the L2 segment.
The data shows that Optimistic Rollup networks still account for the largest share of value locked across Ethereum’s Layer 2 ecosystem. ZK-based solutions had added part of the growth during the market’s peak, but those gains have also reversed as the overall sector pulled back.
The post’s author said the trend suggests momentum in the L2 space has weakened notably under macro pressure. Even so, current TVL remains above the baseline seen from 2021 through early 2022, indicating that while the sector has retreated substantially from its highs, it has not fallen back to its earlier starting range.
Ethereum Layer 2 total value locked (TVL) has fallen to about $5 billion, its lowest level since 2023, according to unfolded. That marks a steep decline from the sector’s peak of nearly $35 billion in 2024.
Data cited in the post shows Optimistic Rollup networks still hold the dominant position across the L2 market. ZK-based solutions had contributed part of the increase during the peak period, but they later moved lower as well.
The author of the post said the trend points to clearly weaker momentum in the L2 segment as macro conditions remain under pressure. Even at current levels, TVL is still above the baseline seen between 2021 and early 2022.
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