The total lock-up volume of Ethereum L2 network is $5.65 billion

According to reports, L2BEAT data showed that as of March 12, the total lock-up volume on Ethereum Layer2 was $5.65 billion. Among them, the largest amount of lock-in is the expansion plan Arbitrum, about 3.2 billion US dollars, accounting for 56.68%; The second is Optimism, with the lock-in amount of 1.63 billion US dollars, accounting for 28.99%; The third is dYdX, with a lock-in amount of 288 million US dollars, accounting for 5.1%

Interpretation of this information:

The message reports on the total lock-up volume on Ethereum Layer2, which refers to the amount of cryptocurrency that is being stored in smart contracts on the Layer2 scaling solution, allowing users to avoid high gas fees on the Ethereum network. The data from L2BEAT showed that as of March 12, the total lock-up volume on Ethereum Layer2 was $5.65 billion.

The message gives a breakdown of which Layer2 solutions are holding the largest amounts of cryptocurrency in lock-up. The largest amount of lock-in is with the expansion plan Arbitrum, which has about $3.2 billion in lock-up, accounting for 56.68% of the total lock-up volume. The second largest is Optimism, with a lock-in amount of $1.63 billion, accounting for 28.99%. The third largest is dYdX, with a lock-in amount of $288 million, accounting for 5.1%.

This data indicates that there is significant interest in Layer2 solutions as a way to reduce the high fees on the Ethereum network. Arbitrum, Optimism, and dYdX are among the most popular solutions for users who want to use a Layer2 solution. This volume of lock-up also shows that there is significant value in these contracts, as users are willing to lock up large amounts of cryptocurrency in them.

Overall, the message shows that Layer2 solutions are becoming increasingly important in the Ethereum ecosystem, as they provide a way for users to avoid the high fees that are associated with using the Ethereum network. The data also suggests that Arbitrum, Optimism, and dYdX are the most popular Layer2 solutions for users who want to take advantage of these benefits.