Arbitrum (ARB) Shines with Major Transaction Milestone

Total Arbitrum One Transactions Tops 1 Billion

According to IntoTheBlock data, Arbitrum crossed 1 billion in cumulative transactions. This achievement demonstrates Arbitrum’s rapid expansion and ability to transform the Decentralized Finance (DeFi) ecosystem.

The milestone of 1 billion transactions illustrates a commendable trajectory of growth for Arbitrum. Key highlights include:

• Growth from less than 100,000 transactions per day to over 2 million transactions daily.
• Interoperability with Ethereum’s programming language, Solidity, allowing seamless migration of existing Ethereum projects to Arbitrum.

Arbitrum’s Total Locked Value and Accessibility

With $2.5 billion in Total Locked Value (TVL), Arbitrum has the highest TVL among Layer 2 solutions, followed by Base at $2.2 billion. Arbitrum’s success points to its efficiency and scalability in processing transactions while maintaining security via Ethereum’s blockchain.

Some additional advantages include:

• Lower gas expenses compared to Ethereum’s mainnet, making it more accessible for individual investors.
• A reputation as one of the most active Layer 2 chains, providing a popular venue for various DeFi applications, including yield farming and lending platforms.

Price Outlook of Arbitrum (ARB) This Year

Arbitrum has experienced a series of highs and lows throughout the year. In June, ARB nearly hit a record low, with volume decreasing by over 38% in just 24 hours, trading near $0.82.

By August, Arbitrum’s price surged over 30% following support from Franklin Templeton. At that time, the price was:

• Trading at $0.5734
• 24-hour trading volume of $305.02 million
• Market cap of $1.91 billion

A month later, Arbitrum’s price continued to recover amid a broader market rebound. The token experienced a positive weekly jump of 10.81% to $0.59. As of now, the price of ARB is trading at $0.5649, down by 9.2% in the past day, but the trading volume increased by 3.7% to over $280 million.

The Place of Arbitrum Among Ethereum L2 Solutions

Arbitrum is performing well compared to other Ethereum Layer 2 platforms. Currently, Arbitrum One ranks third in terms of 30-day transaction count, with:

• 49.14 million transactions over the past 30 days.
• Gravity leading with 90 million transactions.
• Coinbase’s Base at the top with 137.6 million transactions.

Despite this, Arbitrum remains far ahead of other Ethereum Layer 2 solutions like Taiko, Optimism Mainnet, Blast, Immutable X, and Mantle.