A notable fact about Arbitrum is that it’s the largest layer-2 based on the key metric of “total value locked,” or TVL, which represents deposits locked into decentralized-finance protocols on any given network. The figure currently stands at $8.4 billion for the Arbitrum One network, according to the website L2Beat, almost double No. 2 OP Mainnet’s $4.6 billion.
Source: https://www.coindesk.com/tech/2023/12/14/arbitrum-throws-hat-in-ring-for-celos-migration-to-layer-2-blockchain/?utm_medium=referral&utm_source=rss&utm_campaign=headlines