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Network activity on the layer 2 Arbitrum (ARB) network reached a new all-time high of 2.7 million transactions on March 23, doubling that on the Ethereum (ETH) mainnet.
According to Dune analytics data, the ETH mainnet processed 1.07 million transactions, while rival Layer 2 solution Optimism recorded 228,684 transactions.
On March 23, Arbitrum released its ARB tokens to users, increasing its transaction per second (TPS) by 153.21% to 31.64 on Arbitrum One, according to Hit L2.
On the same day, Arbitrum users created 107,158 new addresses: The second time network users have created more than 100,000 addresses in the past week.
Meanwhile, increased network activity also boosted gas consumption in Layer 2 systems to a new ATH of 13.12 billion. In the last 24 hours, Arbitrum was also one of the top ETH burners. Approximately 190 ETH burned through his sequencer inbox, according to ultrasound.money data.
TVL rating increases 62%
According to data from L2 Beats, the total value of assets locked (TVL) in Arbitrum rose to $5.95 billion, up 62% from the $3.90 billion recorded on March 23.
Meanwhile, the layer 2 solution remains popular among decentralized exchange (DEX) users. DEXs on the network processed $1.21 billion in transactions, with Uniswap (UNI) accounting for more than half of this.
855 million ARB tokens claimed
Airdrop of Blockchain Analytics Company Nansen Arbitrum panel shows that 476,553 addresses have claimed almost 900 million ARB tokens in the last 24 hours.
According to the Nansen dashboard, most of the top airdrop recipients have claimed their tokens. It should be remembered that the L2 website temporarily crashed after many users tried to claim their tokens simultaneously.
lookonchain reported that two “airdrop superchasers” received 2.3 million ARB tokens worth $3.2 million from 1,496 addresses, cumulatively.
On top of that, ARB’s price plunged 87% to $1.52 at the time of writing, according to CryptoSlate data. The ARB price had fluctuated wildly during the first few hours of its launch, as many claimants dumped their tokens.
