Arbitrum Registers Record Activity Over the Last 2 Weeks as Transactions per Day Count Surges

In the previous 20 days, the Arbitrum blockchain has recorded a major variety of transactions coinciding with the current ARB airdrop that occurred on March 23. About two weeks in the past, on that day, the Arbitrum community recorded an all-time excessive of two.72 million transactions settled in 24 hours.

L2 Network Arbitrum Records 2.72 Million Transactions in a Single Day, Transfer Count Remains Parallel With Ethereum’s Daily Rate

The Ethereum Layer 2 (L2) scaling answer, Arbitrum, has seen a major quantity of exercise during the last 20 days or since March 16, 2023. The surge in exercise follows Arbitrum outpacing Ethereum’s variety of transactions per day for the primary time 41 days in the past, on February 23, 2023. After the milestone on February 23, Arbitrum’s transactions per day (TPD) dropped under Ethereum’s TPD till March 16.

At that point, Arbitrum’s TPD as soon as once more surpassed Ethereum’s TPD, and the community reached its all-time excessive (ATH) on March 23. That was the identical day the ARB airdrop happened, and 1.275 billion ARB was distributed throughout the ecosystem. The Arbitrum blockchain recorded 2.72 million transactions, whereas Ethereum recorded 1.07 million.

As far because the L2 scaling mission Optimism is worried, the community has seen roughly 150,000 to 430,000 transactions per day. When Arbitrum recorded the two.72 million TPD, Optimism noticed simply over 228,000 transactions on the identical day. Since the Arbitrum TPD ATH, the community has seen round 1 million TPD since then, in response to Dune Analytics data.

Statistics present that the present price to transact on the Arbitrum community is $0.33 per transaction, whereas the median-sized Ethereum community transaction price is 0.0018 ETH or $3.47 per switch. Arbitrum’s native token, ARB, has been buying and selling for costs between $1.22 to $1.28 per unit.

ARB has an general market capitalization of round $1.5 billion, and ARB is ranked fortieth among the many high crypto market valuations. ARB’s buying and selling quantity during the last day has been round $556 million, and presently, the crypto asset is down 85% from its $8.67 ATH. It can be 10% larger than the all-time low of $1.11 per unit recorded 14 days in the past.

What are your ideas on the potential of L2 scaling options like Arbitrum to deal with the scalability problems with blockchain networks? Share your ideas about this topic within the feedback part under.