Airdrop claims help Arbitrum process twice Ethereum’s transaction in 24 hours

Ad Network activity on layer-2 network Arbitrum (ARB) reached a new all-time high of 2.7 million transactions on March 23 — doubling that of the Ethereum (ETH) mainnet. According to Dune analytics data, ETH mainnet processed 1.07 million transactions — while rival layer-2-solution Optimism recorded 228,684 transactions. Arbitrum Daily Transactions (Source: Dune Analytics) On March … Read more

Over 300M Arbitrum ARB tokens claimed; price plunges 90%

Ad Arbitrum’s newly airdropped token ARB price dropped by around 90% to $1.20 as investors rapidly dumped their token, according to CryptoSlate’s data. During the first hour of its claim, the ARB token traded for $3.99 on decentralized exchange (DEX) Uniswap and above $5 on centralized exchanges like KuCoin, Kraken, and OKX. During the period, … Read more

Arbitrum’s weekly DEX volume touches new ATH

Arbitrum’s decentralized exchange (DEX) transactions volume rose to a new all-time high (ATH) in each of the last two weeks, according to DeFillama data. Over the past seven days, DEX transactions increased 32.41% to $4.34 billion. For the week starting March 5, transaction volume on Arbitrum had surged to $3.28 billion. Arbitrum’s Weekly DEX Volume … Read more

Does an interchain future mean dApps developers have the responsibility to unify?

Ad On the first day of the city-wide crypto event that was EthDenver, Steven Fluin, Head of Developer Relations at Axelar, put the onus of developers to build a more connected web3 by stating that “dApps developers have the responsibility to unify.” Talking at the InterOp Summit, Fluin began by asking the audience to join … Read more

Stablecoins inflow to Ethereum L2s rise 5% to over $2B

Ad Stablecoin inflow into Ethereum (ETH) layer 2 (L2) networks increased 5% in the last seven days to over $2 billion, according to DeFillama data. Arbitrum averaged a $10M inflow per day in February In February, Arbitrum’s stablecoin inflow averaged over $10 million daily as the network saw a total influx of around $300 million. … Read more

Optimism (OP) hits new ATH despite 70% transaction volume decline

Layer 2 (L2) network Optimism (OP) transaction volume has declined by over 70% to 200,000 from an all-time high (ATH) of 800,000, according to Etherscan data. Meanwhile, despite the steep decline in its transaction volume, Optimism’s OP printed a $2.49 ATH on Jan. 25, according to CryptoSlate data. Optimism’s transaction volume falls Binance research pointed out … Read more

Ethereum mainnet hits record-breaking 32B weekly gas expenditure

Ethereum (ETH) Layer 2 (L2) networks spent a record-breaking 32 billion gas — a year-on-year increase of 22.8% — to validate transactions and activate bridges between Jan. 9 and Jan. 15, according to Dune Analytics data. Source: Dune Analytics Optimism (OP) contributed around 50% of the gas spent — with a seven-day moving average of … Read more

Arbitrium’s Offchain Labs acquires leading Ethereum client

Arbitrum’s parent company Offchain Labs has announced its acquisition of Prysmatic Labs, a core Ethereum development team. Prysmatic Labs is the engineering team behind Prysm, Ethereum’s leading consensus layer client. Prysm is an Ethereum proof-of-stake client that pioneered the Ethereum merge. Offchain Labs said the move to onboard Prysmatic Labs finds root in their shared … Read more