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Home»ADOPTION NEWS»Arbitrum Surpasses $150 Billion in Total Trading Volume on Uniswap
ADOPTION NEWS

Arbitrum Surpasses $150 Billion in Total Trading Volume on Uniswap

By Crypto FlexsMay 6, 20242 Mins Read
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Arbitrum Surpasses 0 Billion in Total Trading Volume on Uniswap
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DeFi • May 6, 2024, 1:10 PM EDT

Posted 1 minute ago In ~

Ethereum layer 2 protocol Arbitrum has surpassed $150 billion in trading volume on decentralized exchange Uniswap.

Arbitrum is the first layer 2 DEX to pass the threshold of Uniswap Labs. wrote in a social media post on Monday. As of early May, Arbitrum’s cumulative swap trading volume reached $150.2 billion.

Blockchain data tracker DeFiLlama shows that Arbitrum’s Total Value Locked (TVL) is $2.64 billion, making it the largest layer 2 in TVL and the 5th largest protocol in TVL after layer 1 Solana, BSC, Tron, and Ethereum. .

According to ARB’s block price page, ARB, the protocol’s native token, was trading at $1.07 at 12:45 PM ET (16:45 UTC) on May 6 after seeing a 2% decline of $0.022 over the past 24 hours.

Offchain Labs, a core contributor to Arbitrum, released the latest upgrade to Layer 2, called Atlas, in March this year. The Block previously reported that the upgrade added support for block transactions to help lower Ethereum Layer 2 transaction costs.

Uniswap is TVL’s largest decentralized exchange, holding $5.54 billion as of May 6, according to DeFiLlama data.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for publications covering all cryptocurrency-related news, preferring NFTs, metaverse, web3 games, fundraising, crime, hacking, and cryptocurrency ecosystem stories. MK holds a graduate degree from New York University’s Science, Health, and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. X You can follow MK at @MManoylov and on LinkedIn.

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