Arbitrum, the fundamental token powering Ethereum’s layer 2 scaling through the Arbitrum solution, has experienced a notable surge, recording an 80% increase in the past month and an impressive 147% rise over the last three months. Currently, the token is up by 12% in the latest trading session.
This surge follows Arbitrum’s achievement of a yearly high at $2.1 on January 4, marking a significant milestone. Moreover, Arbitrum recently became the first Ethereum Layer 2 solution to surpass $10 billion in Total Value Locked (TVL).
Over the course of just one month, the trading volume of $ARB has skyrocketed, reaching almost $3.3 billion, indicating a staggering 3,000% increase.
The trading volume of $ARB has surpassed $3.3 billion, soaring nearly 3,000% in just 1 month.
🧠 According to @l2beat, @arbitrum dominates Ethereum's Layer 2 TVL, accounting for 49.2% of the total $19.91 billion.
🧠 Arbitrum's TVL has increased over the past three months,… https://t.co/UXczZT34Cr pic.twitter.com/9T2cfHNMeI
— Pink Brains (@PinkBrains_io) January 10, 2024
Arbitrum Holds Major Position In Ethereum Layer 2 TVL
According to l2beat, Arbitrum holds a dominant position in Ethereum’s Layer 2 TVL, contributing a substantial 49.2% to the total $19.91 billion.
The TVL of Arbitrum has exhibited consistent growth over the last three months, currently standing at $2.488 billion. This represents a remarkable 46% increase from the $1.66 billion recorded in October 2023.
$ARB is up 40% in the last month.
Since its 2023 airdrop, it recently made an all-time high at $2.1 on Jan 4, before having a 18% correction.
Arbitrum One also became the first ETH L2 to hit $10B in TVL recently.
Do you own a bag of $ARB? pic.twitter.com/ab74U9iTXL
— Lark Davis (@TheCryptoLark) January 8, 2024
Arbitrum boasts a diverse asset portfolio, with Ethereum ($ETH) accounting for 30.9%, $ARB at 23.68%, stablecoins representing 29.66%, and the remaining 15.76% allocated to various other assets.
This surge in the value, trading volume, and TVL highlights Arbitrum’s pivotal role in Ethereum’s Layer 2 ecosystem and underscores its growing significance in the broader blockchain landscape. As the platform continues to achieve new milestones, it remains a focal point in the ongoing evolution of decentralized finance and blockchain scalability solutions.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
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