[Ethereum L2 TVL Drops to Two-Year Low, Ecosystem Momentum Weakens] BlockBeats News, July 29: The total value locked (TVL) in the Ethereum Layer 2 ecosystem has fallen back to approximately $5 billion, reaching its lowest level in 2023 and essentially erasing the capital growth accumulated during the rapid expansion of the L2 ecosystem in 2024. Data shows that the combined TVL of the three major networks—Optimism, Base, and Arbitrum—is currently around $4.8 billion, accounting for 96% of the entire L2 ecosystem. The report points out that the cooling of the L2 ecosystem is occurring in tandem with the broader challenges faced by Ethereum. This year, several senior executives from the Ethereum Foundation have resigned, and personnel adjustments have been made. Meanwhile, traditional financial institutions exploring blockchain infrastructure are gradually shifting their focus to alternatives beyond Ethereum. For instance, DTCC is promoting the tokenization of government bonds in a multi-chain environment, and JPMorgan has expanded JPM Coin to multiple public chains. However, stablecoins remain a critical pillar of the Ethereum ecosystem. Currently, USDC and USDT are primarily settled through Ethereum and its L2 networks, allowing Ethereum to continue serving as a vital bridge for traditional finance entering the crypto market. [Original Link]