The Rise of Arbitrum (ARB): Daily DEX Volume Soars, Surpassing Ethereum to $400 Million

Arbitrum, a prominent Layer 2 (L2) scaling solution, has seen a remarkable trajectory since the launch of its native token, ARB, in March 2023. The past 30 days have witnessed an astounding 74% increase in the value of ARB, indicating growing market interest in the protocol.

Significantly, Arbitrum’s daily decentralized exchange (DEX) volume has undergone a significant surge, propelling the protocol to surpass Ethereum (ETH) for the first time in this crucial metric.

This milestone highlights Arbitrum’s increasing adoption and recognition for its scalability within the decentralized finance (DeFi) ecosystem.

Arbitrum Sets New DEX Record

According to data from DefiLlama, Arbitrum’s daily DEX volume reached an impressive $1.834 trillion in the last 24 hours, surpassing Ethereum’s $1.444 trillion. Analyzing DefiLlama’s data reveals that Arbitrum’s growth extends beyond its daily DEX volume.

The weekly change in ARB’s value has increased by 32.58%, demonstrating the token’s strong performance in the market. Furthermore, Arbitrum’s seven-day trading volume has reached a remarkable $6.804 trillion, indicating robust trading activity on the protocol.

In terms of total value locked (TVL) within DEX, Arbitrum holds $1.297 trillion, accounting for 33.40% of the total TVL. In comparison, Ethereum’s TVL stands at $5.92 billion, representing 26.29% of the total. This underscores Arbitrum’s increasingly prominent position as users recognize its potential for efficient and secure decentralized trading.

ARB’s Financial Figures Soar

To further illustrate the protocol’s ecosystem development, token terminal data shows that Arbitrum’s market capitalization (circulating) has impressively increased by 83.84% to $2.56 billion.

Arbitrum’s revenue generated in the last 30 days has also shown outstanding growth, with a 79.82% increase to $11.66 million. Furthermore, looking at the fully diluted market capitalization, Arbitrum has witnessed a similar 83.84% increase to reach $20.07 billion.

Arbitrum’s annual revenue has significantly increased by 101.67% to $141.81 million. This figure represents the projected annual revenue based on the current monthly revenue, highlighting the protocol’s sustainable growth.

In terms of fee generation, Arbitrum’s figures for the last 30 days have increased by 79.82% to reach $11.66 million, demonstrating the protocol’s ability to generate significant transaction fees within its ecosystem.

On an annual basis, fees have increased by 101.67% to reach $141.81 million, further confirming the revenue growth and economic potential of the protocol.

However, the protocol’s native token, ARB, is currently trading at $1.8962, down over 8% in the last 24 hours and below its all-time high (ATH) of $2.11 set on Thursday. Despite this pullback, it has still risen by 36% over the past 14 days, demonstrating the token’s upward price momentum.

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