Arbitrum, a leading layer-2 cryptocurrency network, has achieved a significant milestone, reaching $20 billion in total value locked (TVL) on its platform.

Reaching New Heights

Arbitrum announced this achievement on its official account, stating that the first layer-2 platform has reached a TVL of $20 billion, representing a 14.2% increase. This milestone is a testament to the network’s growth and innovation.

“Arbitrum One has just become the first L2 to hit $20 billion in TVL. We did this by innovating 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,”

TVL Breakdown

According to recent data, Arbitrum One achieved its $20 billion TVL milestone with a breakdown of $6.64 billion in canonical, $5.32 billion in external, and $8.12 billion in native assets. This achievement puts Arbitrum ahead of its competitors, including Base, OP Mainnet, and Blast.

Native Assets and Minted Values

Arbitrum’s native assets have also seen significant growth, with the platform’s native minted value reaching $4.3 billion. The USD Coin (USDC) is the second-highest native minted value on the platform, with a value of $2.2 billion.

Stage 2 and Future Developments

Stage 2 of Arbitrum One is currently ongoing, with some issues still to be addressed, including fraud-proof submission, upgrade unrelated to on-chain, and the security council’s action. Despite these challenges, Arbitrum remains committed to innovation and growth.

Boosting AI Growth

The Arbitrum Foundation is actively promoting the artificial intelligence (AI) industry through various initiatives, including a $1 million grant to the Arbitrum Network. The Trailblazer AI Grant aims to support developers and creators building AI agents on Ethereum layer-2.

This initiative has the potential to bring thousands of applications to Arbitrum, ranging from non-fungible tokens (NFT) to ERC20 tokens. Eligible projects will receive a $10,000 reward, unlocking the potential of layer 2 and driving innovation in the AI space.

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