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

Community exercise on layer-2 community Arbitrum (ARB) reached a brand new all-time excessive of two.7 million transactions on March 23 — doubling that of the Ethereum (ETH) mainnet.

In keeping with Dune analytics information, ETH mainnet processed 1.07 million transactions — whereas rival layer-2-solution Optimism recorded 228,684 transactions.

On March 23, Arbitrum airdropped its ARB tokens to customers — rising its transaction per second (TPS) by 153.21% to 31.64 on Arbitrum One, in accordance with L2 Beat.

On the identical day, Arbitrum customers created 107,158 new addresses — the second time community customers created greater than 100,000 addresses over the previous week.

In the meantime, the elevated community exercise additionally propelled the gasoline consumption throughout layer-2 methods to a brand new ATH of 13.12 billion. Up to now 24 hours, Arbitrum was additionally one of many high ETH burners. Roughly 190 ETH have been burnt by way of its sequencer inbox, in accordance with ultrasound.cash information.

Arbitrum TVL rises 62%

In keeping with L2 beats information, the whole worth of property locked (TVL) on Arbitrum has elevated to $5.95 billion — up 62% from $3.90 billion recorded on March 23.

In the meantime, the layer2 resolution stays in style for decentralized exchanges (DEX) customers. DEXs on the community processed $1.21 billion in transactions, with Uniswap (UNI) accounting for greater than half of this.

855M ARB tokens claimed

Blockchain analytical firm Nansen Arbitrum’s airdrop dashboard reveals that 476,553 addresses have claimed nearly 900 million ARB tokens within the final 24 hours.

In keeping with the Nansen dashboard, many of the largest airdrop recipients have claimed their tokens. It might be recalled that the L2 web site quickly crashed after many customers tried to assert their tokens concurrently.

Lookonchain reported that two “tremendous airdrop hunters” acquired 2.3 million ARB tokens value $3.2 million from 1496 addresses, cumulatively.

Apart from that, ARB value tanked 87% to $1.52 on the time of writing, in accordance with CryptoSlate information. ARB value had closely fluctuated through the early hours of its launch as many claimers dumped their tokens.