- Arbitrum processed over one million transactions on Tuesday and surpassed Ethereum mainnet.
- Arbitrum also reached a new all-time high of active addresses.
- The Layer-2 network is now the second-largest blockchain in terms of seven-day volume.
Arbitrum has reached a monumental milestone for Ethereum scaling. The leading Layer-2 scaling project has surpassed Ethereum mainnet in processed transactions for the first time.
Arbitrum, an optimistic rollup utilizing fraud proofs, processed 1,100,333 transactions on Tuesday, while Ethereum processed 1,084,290 transactions. Arbitrum’s main competitor, Optimism, processed 191,479 transactions on Tuesday and has a record of 799,462 daily transactions back in January.
Sandeep Nailwal, the co-founder of Polygon, which plans to release its zkEVM scaling solution on March 27, congratulated Arbitrum on the achievement.
Arbitrum also reached a new all-time of active addresses. The Layer-2 network had 120,535 active addresses on Tuesday.
All of the increased activity on Arbitrum has allowed the network to become the second when it comes to seven-day volume. Arbitrum has seen over $2.83 billion flowing through various decentralized exchanges (DEX) built on it in the last week.
In terms of total value locked (TVL), Arbitrum is currently the third largest blockchain after Ethereum and Binance Smart Chain. The Layer-2 scaling project has $1.22 billion in TVL, according to data from DefiLlama.
On the Flipside
- The increased activity on Arbitrum can be related to the fact that the project has no token yet. Airdrop farmers might be anticipating an airdrop soon and are trying to quality.
Why You Should Care
Arbitrum is the leading Ethereum Layer-2 scaling project. Surpassing Ethereum in daily transactions is a huge milestone for Arbitrum and the broader Ethereum ecosystem. Users can use Ethereum through Arbitrum for cheaper fees and faster transaction times.
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