Ethereum Scaling Solutions Take Center Stage: Top 5 Layer 2 Tokens by FDV

Ethereums Layer 2 ecosystem is experiencing a surge in growth, driven by rising optimism over the potential approval of a spot ETH exchange-traded fund (ETF). The top five projects by Fully Diluted Valuation (FDV), as tracked by analytics platform CryptoRank.io, are leading the charge.

Top 10 Ethereum Layer 2 Blockchains by FDV@Optimism – $7.33B@arbitrum – $6.91B@Starknet – $5.57B@0xMantle – $4.31B@zksync – $3.15B@Immutable – $2.46B@taikoxyz – $2.19B@blast – $1.57B@MantaNetwork – $817M@BuildOnCyber – $412M

— CryptoRank.io (@CryptoRank_io) July 12, 2024

These projects – Optimism (OP), Arbitrum (ARB), Starknet (STR), 0xMantle (MNT), and zkSync (ZK) – are each making significant strides in tackling Ethereums scalability challenges and improving transaction efficiency.

Optimism (OP)

At the forefront of this digital currency wave, Optimism (OP) boasts a fully diluted valuation (FDV) of $7.33 billion. CoinMarketCap data reveals a week of bullish momentum for the OP token, marked by consistently higher highs.

Currently trading at $1.81, OP has seen a 4.72% increase in the past 24 hours, with a market cap of $1.198 billion. Trading volume also surged by 15.19% to $177 million. Over the past day, OPs price has fluctuated between $1.77 and $1.83, demonstrating vibrant market activity.

Arbitrum (ARB)

Following closely behind is Arbitrum (ARB) with an FDV of $6.91 billion. After a bearish start to the day, ARB surged 2.90% from its previous close. At press time, ARB trades at $0.735. This represents a 26% increase from its record low of $0.5773, set just 10 days ago.

This recent surge has propelled ARB‘s market cap to $2.24 billion, with trading volume increasing by 17.42% to $166.54 million. This energized trajectory has piqued interest in Arbitrum’s next market move.

Starknet (STR)

Despite a challenging week for the broader market, Starknet (STR) has made a notable impression, securing the third spot with a fully diluted valuation (FDV) of $5.57 billion. The STR token is currently priced at $0.6107, a 6.36% gain in just 24 hours. This price surge is particularly noteworthy given its recent consolidation between $0.54 and $0.62.

Starknet‘s market capitalization stands at $776 million, with trading volume surging by 46.47% to $60.34 million. This increased activity suggests growing interest and confidence in the token. With a circulating supply of 1,460,140,491 STRK (14.60% of its total supply), Starknet’s performance is drawing the attention of investors and analysts.

Mantle (MNT)

Holding the fourth spot with an impressive FDV of $4.31 billion, Mantle (MNT) continues to make waves. Currently trading at $0.7471, MNT has seen a 3.48% increase in the past 24 hours.

Although trading volume dipped slightly by 7.28% to $161 million, Mantles market cap remains strong at $2.27 billion. Its unique approach in the Ethereum Layer 2 space continues to attract attention and drive momentum.

zkSync (ZKS)

Rounding out the top five is zkSync (ZKS) with an FDV of $3.15 billion. The ZKS token has climbed to $0.166, representing a 5.14% increase in the past day. Its market cap stands at $555 million, accompanied by an 8.59% increase in trading volume, reaching $109 million. Despite an initial dip, ZKS found support at $0.154, fluctuating between $0.154 and $0.1706 in the past 24 hours.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.