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Arbitrum, a cryptocurrency network, has announced on its official account that its layer-2 platform has reached $20 billion in total value locked (<a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/tvl/">TVL</a>).
Arbitrum on&nbsp;<a href="https://x.com/arbitrum/status/1863924699526283688?s=46" target="_blank" rel="noopener noreferrer nofollow">X’s post</a>&nbsp;on Dec. 03 claimed that the first layer-2 platform could reach $20 billion in total value locked (TVL) or increase up to double-digit, which specifically rises 14.2%.
<blockquote class="wp-block-quote is-style-default is-layout-flow wp-block-quote-is-layout-flow">
 “Arbitrum One has just become the first L2 to hit $20 billion in TVL. We did this by inovating 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,” <cite>Arbitrum mentioned on the post.</cite>
</blockquote>
According to L2Beat <a href="https://l2beat.com/scaling/projects/arbitrum" target="_blank" rel="noopener noreferrer nofollow">data</a>, <a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/arbitrum/">Arbitrum</a> One achieved $20 billion in TVL with $6.64 in canonical, $5.32 billion in external, and $8.12 billion in native. This milestone also leaves the competitors behind, including <a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/base/">Base</a> with $12.4 billion, OP Mainnet with $8.56 billion, and Blast with $1.55 billion.
Arbitrum (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/arbitrum/">ARB</a>) is the highest native minted value on this platform, with around $4.3 billion, followed by USD Coin (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/usd-coin/">USDC</a>), with a value of $2.2 billion.
Stage 2 of Arbitrum One is still ongoing, and some issues need to be fixed: fraud-proof submission, upgrade unrelated to on-chain, and the security council’s action, which is not confined to on-chain.
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/blackrocks-buidl-joins-aptos-arbitrum-avalanche-optimism-and-polygon/"> BlackRock’s BUIDL joins Aptos, Arbitrum, Avalanche, Optimism and Polygon </a>
<h2 class="wp-block-heading" id="arbitrum-boosting-ai-growth">Arbitrum boosting AI growth</h2>
Arbitrum Foundation also actively promotes the artificial intelligence (AI) industry; one of the support initiatives is a $1 million grant to Arbitrum Network. The Trailblazer AI Grant is an initiative for developers and creators who are dedicated to building AI agents on Ethereum layer-2.
This artificial intelligence also helps bring thousands of applications to Arbitrum and gives the opportunity to explore projects ranging from non-fungible tokens (NFT) to ERC20 tokens. Projects that are eligible in the process will receive $10,000 as a reward.
Besides that, this initiative to bring artificial intelligence to the Arbitrum would unlock the potential of layer 2.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/arbitrum-launches-1m-grants-program-to-bolster-ai-innovation/"> Arbitrum launches $1m grants program to bolster AI innovation </a>

Arbitrum One as the first layer-2 to reached $20 bilion in TVL

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