Arbitrum, a leading Layer-2 (L2) scaling solution, has experienced a significant surge in its native token, ARB, since its launch in March 2023. Over the past 30 days, ARB’s value has risen by 74%, reflecting the growing interest in the protocol in the market.
Notably, Arbitrum has surpassed Ethereum (ETH) for the first time in terms of daily decentralized exchange (DEX) volume. This milestone demonstrates Arbitrum’s scalability and increasing adoption within the decentralized finance (DeFi) ecosystem.
According to DefiLlama, Arbitrum’s daily DEX volume reached $1.834 billion in the past 24 hours, surpassing Ethereum’s volume of $1.444 billion. Additionally, the weekly change in ARB’s value surged by 32.58%, indicating the token’s strong performance in the market. The seven-day volume reached an impressive $6.804 billion, highlighting robust trading activity on the protocol.
In terms of total value locked (TVL) in DEX, Arbitrum accounted for $1.297 billion, constituting 33.40% of the total TVL, while Ethereum’s TVL stood at $5.92 billion, making up 26.29% of the total. This showcases Arbitrum’s increasing prominence for efficient and secure decentralized trading.
Token terminal data shows that Arbitrum’s market capitalization (in circulation) has increased by 83.84% to $2.56 billion. The revenue generated by Arbitrum over the past 30 days also experienced remarkable growth, with a 79.82% increase to reach $11.66 million.
Furthermore, the fully diluted market capitalization of Arbitrum has witnessed an identical 83.84% rise, reaching $20.07 billion. The protocol’s revenue on an annualized basis has surged by 101.67% to reach $141.81 million, reflecting the sustained growth of the protocol.
In terms of fees generated, Arbitrum’s 30-day figures have surged by 79.82% to reach $11.66 million, demonstrating the protocol’s ability to capture a significant share of transactional fees within its ecosystem. On an annualized basis, fees have soared by 101.67% to reach $141.81 million, validating the protocol’s revenue growth and economic potential.
Despite a pullback in the price of ARB to $1.8962, down over 8% in the past 24 hours, the token is still up 36% over the past 14 days, indicating bullish momentum.
Disclaimer: This article is provided for educational purposes only and does not represent the opinions of NewsBTC on whether to buy, sell, or hold any investments. Investing carries risks, and individuals are advised to conduct their own research before making any investment decisions. Use the information provided on this website at your own risk.
