L2 Ethereum Network Taiko Sees Massive 1,000% TVL Surge

• Taiko’s TVL on L2 surged over 1,000%, reaching a record $81 million.
• Taiko’s daily transactions hit 5 million, marking new highs in Layer 2 Ethereum adoption.

Taiko, a Layer 2 Ethereum network, has seen considerable growth over the last month. According to DeFiLlama, the Total Value Locked (TVL) on Taiko increased by more than 1,000%, reaching an all-time high of $81 million.

Taiko’s native decentralized exchange (DEX), Panko Finance, and the lending platform Avalon Finance—all with TVL numbers above $30 million apiece—key players in this increase.

TaikoScan’s data also showed that on November 4, daily transaction volume on the network reached 5 million, once more setting a record. These events highlight Taiko’s increasing popularity among Ethereum Layer 2 users and investors equally.

Taiko: Strategic Milestones and Funding Build a Strong Foundation 

Taiko has had a sequence of benchmarks on her path to this point. Following two years of development and the completion of seven test networks, the network formally introduced its mainnet in May 2024.

The participation of Ethereum co-founder Vitalik Buterin, who proposed the genesis block on Taiko’s mainnet, set this launch out even more. To show thanks, the metadata of the block contains the names of every Taiko project core contributor.

Since then, the network has attracted about 1,200,000 unique wallet addresses and integrated over 100 decentralized apps (dApps), reflecting significant user involvement. As Taiko keeps developing its ecosystem, its expansion shows a solid basis for it.

Furthermore, quite important for Taiko’s growth has been financial support. Through three funding rounds—including a $15 million Series A round run run under Lightspeed Faction, Hashed, Generative Ventures, and Token Bay Capital—the network raised $37 million in March 2024.

Taiko’s rapid growth and support of existing projects have been made possible by this flood of money. The team had revealed plans for token vesting by July 2024, stating that investors would get 11.62% of the entire TAIKO token supply while the core team at Taiko Labs would get 9.82%.

These calculated moves have created the conditions for a sustainable development path, therefore keeping Taiko’s long-term objectives in line both for investors and the team.

Taiko’s presence has also grown via deliberate listings. On its PoolX staking platform, Global Bitcoin Exchange Bitget listed Taiko (TAIKO), according to CNF. This action has exposed Taiko’s staking prospects more widely and positioned Bitget as a major actor in advancing high-growth initiatives within the fast changing L2 ecosystem.