CandleFocus Arbitrum breaks 1B transaction threshold, nearly 20% of traffic is DeFi activity
2024-09-30
Author: Content Editor
Arbitrum, a Layer 2 solution for Ethereum, has surpassed 1 billion transactions with 17.71% of those transactions being directed towards DeFi activities. The project is considered sufficiently decentralized and has been praised by Ethereum's founder Vitalik Buterin. Arbitrum has become the most widely used L2 chain, with over $9.62 billion in value bridged. It has shown organic growth in transaction count and has attracted significant inflows from Ethereum. The chain is dominated by undefined or token-based activity and has become a host for multiple DeFi protocols. Despite a decline in market price, ARB, the native token of Arbitrum, is relatively advanced in its unlocking journey. The chain continues to produce fees and remains sustainable, but its margins have become thinner.
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