The total value locked (TVL) on Ethereum layer-two networks has surged to a new height as gas fees continue to steadily rise driving further adoption.

Layer-2 analytics platform L2beat currently reports that the TVL across various layer-two protocols and networks has reached an all-time high of $five.64 billion.

Layer-two scaling solutions provide much higher transaction throughput and lower transaction fees, and they have surged in terms of adoption in Nov, which has seen the highest average gas fees in Ethereum network history.

Arbitrum has the lion's share of the layer two market with $ii.67 billion locked up, or around 45% of the total.

The dYdX derivatives decentralized commutation (DEX) is in 2d identify with $975 million in TVL, and the Loopring layer-two DEX is in third place with $580 meg, even so, its own LRC token makes up most of its value locked.

Layer-two TVL has more doubled since the showtime of October, surging 110% from $ii.68 billion to current levels.

Related: Binance opens layer-two ETH deposits with Arbitrum One integration

Average Ethereum transaction fees are currently around $forty, according to BitInfoCharts. They spiked to their 2d-highest ever level of around $65 on Nov. nine and have increased by 700% over the past four months.

Gas prices vary depending on the performance: A simple ERC-20 token transfer tin can cost around $45 at the moment, and a more than circuitous smart contract interaction or Uniswap swap tin cost a painful $140, according to Etherscan.

Registering a proper name on the Ethereum Proper noun Service can toll hundreds of dollars in gas despite the actual domain name costing just a few bucks per yr.

Since October, multichain compatible decentralized finance platforms take seen record inflows as investors and developers endeavour to avoid the Ethereum network due to soaring gas fees.