Arbitrum, a leading Layer 2 (L2) scaling solution, has had a notable upward trajectory since the launch of its native token, ARB, in March 2023. The last 30 days witnessed a staggering 74% increase in the value of ARB, underscoring the growing market interest in the protocol.
Notably, Arbitrum's daily decentralized exchange (DEX) volume has seen a significant increase, boosting the protocol. to surpass ethereum (eth) for the first time in this key metric.
This milestone highlights the growing adoption and recognition of Arbitrum for its scalability within the decentralized finance (DeFi) ecosystem.
Arbitrum sets new DEX records
According data According to DefiLlama, Arbitrum's daily DEX volume reached an impressive $1.834 million in the last 24 hours, surpassing ethereum's volume of $1.444 million. When analyzing DefiLlama data, it is evident that Arbitrum's growth extends beyond daily DEX volume.
The weekly change in ARB value skyrocketed by 32.58%, demonstrating the token's strong performance in the market. Additionally, Arbitrum's seven-day volume reached an impressive $6.804 million, indicating strong trading activity on the protocol.
In terms of total value locked (TVL) on DEX, Arbitrum accounted for $1.297 billion, which constitutes 33.40% of the total TVL. In comparison, ethereum's TVL stood at $5.92 billion, representing 26.29% of the total. This demonstrates the growing importance of Arbitrum as users increasingly recognize its potential for efficient and secure decentralized trading.
ARB Financial Metrics Soar
Further demonstrating the growth of the protocol ecosystem, terminal token data shows that Arbitrum's market capitalization (outstanding) has increased by an impressive 83.84% to $2.56 billion.
He income generated Arbitrum over the last 30 days has also seen notable growth, increasing by 79.82% to reach $11.66 million.
Furthermore, looking at the fully diluted market capitalization, Arbitrum has witnessed an identical increase of 83.84% to reach $20.07 billion.
Arbitrum's revenue on an annualized basis has seen a significant increase, increasing by 101.67% to reach $141.81 million. This figure represents projected revenue for a full year based on current monthly profitwhich underlines the sustained growth of the protocol.
In terms of fees generated, Arbitrum's 30-day figures have increased by 79.82% to reach $11.66 million, demonstrating the protocol's ability to capture a significant portion of transactional fees within its ecosystem. .
On an annualized basis, fees have skyrocketed 101.67% to $141.81 million, further validating the revenue growth and economic potential of the protocol.
However, the protocol's native token, ARB, is trading at $1.8962, down more than 8% in the last 24 hours and below its all-time high (ATH) of $2.11 set on Thursday. Despite this pull backIt is still up 36% in the last 14 days, demonstrating the token's bullish momentum.
Featured image from Shutterstock, chart from TradingView.com
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