Binance adds support for Ethereum Layer-2 solution Arbitrum One

The cryptocurrency exchange Binance announced the integration of Arbitrum One. Customers can now deposit ETH through the network of this Layer-2 solution.

#Binance Completes Aribitrum One Integration and Opens Layer 2 $ETH Depositshttps://t.co/bZ2D1SVbHT

— Binance (@binance) November 19, 2021

Users have been assigned corresponding addresses, which can be found in the deposits section.

Withdrawing Ethereum to Arbitrum One addresses will appear later. Binance did not specify timing.

Arbitrum remains the leader among Ethereum Layer-2 scaling solutions with a TVL of $2.46 billion vs $5.17 billion across the sector, according to L2Beat.

Arcane Research explained the project’s leading position, oriented toward a higher degree of network security.

According to L2Fees, ETH transfers to Arbitrum One will cost 57% less than on the main Ethereum network. Other Layer-2 solutions offer savings of up to 99%.

In September, Arbitrum One integrated the DeFi project 1inch Network.

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