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Arbitrum Daily Transactions Reaches New ATH Just Below 700k By CoinEdition

Photo of Jake Jake Send an email February 18, 2023
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Arbitrum Daily Transactions Reaches New ATH Just Below 700k

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Arbitrum Daily Transactions Reaches New ATH Just Below 700k
  • The number of Arbitrum daily active transactions has reached a new all-time high.
  • Arbitrum is a layer 2 blockchain designed to increase scalability on the blockchain.
  • ETH is currently trading hands at $1,694.49 after a 1.91% increase in price.

The crypto analytics platform known as Nansen took to Twitter earlier this morning to share some new insights about Arbitrum. According to the post, the number of Arbitrum daily active transactions has reached a new all-time high.

Arbitrum daily transaction chart (Source: Nansen)

Arbitrum is a layer 2 blockchain designed to increase scalability on the Ethereum blockchain. Arbitrum is being touted as the next-generation blockchain platform that aims to solve the scalability issues of Ethereum blockchain technology. It is the most significant layer two on Ethereum, using roll-up technology with a TVL of over 1 billion US dollars. Currently, there are 184 protocols on Arbitrum, including GMX, Aave, , and others.

It is the fifth largest of any L1 or L2 and records a market share of 3% of TVL across all chains. Arbitrum’s market share has increased significantly over the past year, up from 1% among all chains a year ago. This increase is partially due to the growth of applications in the Arbitrum ecosystem, such as the GMX perpetual exchange.

Ethereum / US 1D (Source: TradingView)

CoinMarketCap indicates that Ethereum (ETH) is currently trading hands at $1,694.49 after a 1.91% increase in price over the last 24 hours. In addition to this, the biggest crypto by market cap is in the green by more than 11% over the last seven days.

ETH did, however, weaken against BTC over the last day by about 1.48%. Its 24-hour trading volume is also in the red zone and now stands at $8,998,894,960 after a more than 22% decrease since yesterday.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post Arbitrum Daily Transactions Reaches New ATH Just Below 700k appeared first on Coin Edition.

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Photo of Jake Jake Send an email February 18, 2023
0 52 2 minutes read
Photo of Jake

Jake

Jacob Keiter is a husband, a writer, a journalist, a musician, and a business owner. His journey to becoming a writer was one that was paved with challenges, but ultimately led him to find his true calling. Jacob's early years were marked by a strong desire for creative expression. He was always drawn to music, and in his youth, he played in several bands, chasing the elusive promise of fame and success. However, despite his best efforts, Jacob struggled to find the recognition he craved. It wasn't until he hit a low point in his life that Jacob discovered his love for writing. He turned to writing as a form of therapy during a particularly difficult time, and found that it not only helped him to cope with his struggles, but also allowed him to express himself in a way that he had never been able to before. Jacob's writing skills quickly caught the attention of others, and he soon found himself working as a journalist for The Sun out of Hummelstown. From there, he went on to contribute to a variety of publications, including the American Bee Journal and Referee Magazine. Jacob's writing style is reflective of traditional journalism, but he also infuses his work with a unique voice that sets him apart from others in his field. Despite his success as a writer, Jacob also owns another business, JJ Auto & Home, which specializes in cleaning. Jacob's commitment to excellence is evident in all of his endeavors, whether it be in his writing or in his business ventures. Today, Jacob is the author of two books and continues to inspire others through his writing. His journey to becoming a writer serves as a reminder that sometimes our darkest moments can lead us to our greatest achievements.

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