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HomeCryptoArbitrum Records Impressive Network Growth: What's Next? money moguls

Arbitrum Records Impressive Network Growth: What’s Next? money moguls


  • Arbitrum recorded impressive growth in its DEX transaction volume.
  • Daily active users on Arbitrum skyrocketed in February.

Mediation Added another feather to your cap after you eclipsed Decentralized Exchange (DEX) volume bnb chain In the last 24 hours, a DeFiLlama tweet revealed this.

Additional data from the tweet highlighted that Layer-2 solutions recorded approximately $440 million via DEX transactions in a 24-hour period, compared to $410 million for BNB. Arbitrum DEX volume has increased by more than 10% in the last week.

This was an impressive feat considering that the BNB chain had a much larger user base than other chains, according to Data. token terminal.

These DeFi protocols are inspiring

Arbitrum’s performance in the DeFi space is a late appearance and has been primarily driven by popular protocols such as gmx and Camelot.

Consider this: GMX, Evernote’s largest decentralized exchange, owns approximately 30% of the total value locked (TVL) on the Arbitrum network. Arbitrum’s TVL increased due to the change in GMX’s activity Avalanche (AVAX) for his series. According DeFillamaTVL increased by approximately 43% in February.

Source: Defilama

Also, Camelot, a new on-chain DEX, has created quite a buzz in the DeFi space. Camelot’s TVL has grown from just over $22 million in early February to $63.56 million as of this writing, nearly tripling in value. Camelot’s native token GRAIL is up a staggering 900% in the last 30 days. coin market cap.

Token airdrop soon?

Arbitrum has been a strong performer when it comes to its key indicators. Daily active users on the chain rose nearly 80% in February, while it also hit a six-month high on February 16.

The rapid increase in the number of users brought on-chain validation fees to almost 110k, an increase of more than 300% from the previous week. The increase in network traffic bodes well for the future of blockchain.

Source: Token Terminal

With an increase in trading activity on the Arbitrum network, speculation of a token airdrop began to circulate on social media. A community member expressed confidence that the airdrop would happen soon. However, nothing official has been revealed yet.


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