Ethereum (ETH)

Arbitrum Just Flipped Ethereum`s Daily Transactions

According to CryptoLark, a cryptocurrency investor and a wealth educator, there has been a significant increase in the amount of activity on the Arbitrum network, which is the primary Ethereum Layer-2 scaling solution. 

Arbitrum beats Ethereum

This has made it possible for the layer-2 scaling solution to beat Ethereum in the daily transaction volume recorded on February 21st, which was 1.1 million transactions. Ethereum, on the other hand, reported 1.08 million transactions during the same time period.

In addition to that, according to data provided by DefiLlama, Arbitrum recorded a weekly volume of $2.7 billion during the most recent week. A day high for the network was also reached by the cryptocurrency network Arbitrum on February 16, when a total of $502.22 million was seen traveling through multiple decentralized exchanges (DEX).

As a direct result of this development, Arbitrum has climbed to the position of being the second most active blockchain over the course of the last week. Ethereum is the only cryptocurrency that has a larger seven-day volume than any other cryptocurrency, totaling $13.17 billion.

📰 Also read:  Analysts Say FTX Repayments Will Not be Super Bullish for Crypto: Here is Why

Active addresses also increased

On Monday, Arbitrum also succeeded in establishing a new benchmark for the number of active addresses that have ever been registered on the platform. There are now 117,798 active addresses interacting with a range of apps on the decentralized platform Arbitrum. 

According to DefiLlama, Arbitrum is ranked third in market capitalization after Ethereum ($10.33 billion) and Binance Smart Chain ($3.14 billion), with a total value locked (TVL) of $1.18 billion.

In conclusion, the current price of Ethereum on the market is $1,649.98, representing a loss of 3.01% over the last 24 hours. According to the statistics provided by Coinmarketcap, the cryptocurrency Ethereum has attained a current market cap of $201,914,186,806 and has a circulating supply of 122,373,866 ETH tokens.

📰 Also read:  What is Arbitrum? - All You Need to Know About This Ethereum Scaling Solution

Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  What is Arbitrum? - All You Need to Know About This Ethereum Scaling Solution

Curtis Dye

Curtis is a cryptocurrency news and analytics author with a focus on DeFi, BLockchain, CeFi, NFTs etc. He has publication skills such as SEO optimization, Wordpress, Surfer tools and aids his viewers with insights on the volatile crypto industry.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content