Arbitrum’s Daily Transactions Reach a New High Ahead of the ARB Airdrop

News Desk4
2 Min Read

With a new layer 2 token in town, the Arbitrum fever is on. 

The much-anticipated Arbitrum ARB governance token airdrop marks the beginning of its transition into a self-executing DAO governance, and the activity on the network has soared to levels never seen before.

The Ethereum-layer 2 scaling system that uses Optimistic rollups technology to facilitate faster and cheaper transactions has already been on a roll lately. The daily transaction on Arbitrum has now hit an all-time high of 1,312,052.

  • The last peak was registered a month back when the figures climbed 1,103,398, which was followed by a sharp reversal amidst an industry-wide drawdown, according to the data compiled by Arbiscan. But the airdrop news gave the figures the necessary boost.
  • DeFiLlama data further suggested that there’s nearly $2 billion locked inside Arbitrum-powered protocols. On top is the decentralized derivatives platform GMX and DEX Uniswap, which are leading with the most value.
  • The total unique addresses also continued its steady upward trajectory hitting a new record of 3,871,204.
  • Meanwhile, the developer team behind Arbitrum has previously hinted that ARB will hit eligible wallets on March 23.
  • Once the token is deployed, eligible users and developers will receive 12.75% of the token’s total supply of 10 billion. ARB’s total supply, on the other hand, will be fixed at 10 billion.
  • Following the announcement last week, several top crypto exchanges, including Binance, Huobi, Bitfinex, and Bybit, announced that ARB will be listed on its launch day.
  • The significant hype and the immediate listings have worked as a marketing tactic. However, this has also attracted scammers that have been creating fake Arbitrum airdrops and phishing websites.
  • Earlier this week, the project’s community and some blockchain security companies cautioned users to stay vigilant and revealed identifying more than 273 phishing sites related to Arbitrum.

Share This Article
Leave a comment