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Home»BITCOIN NEWS»Daily DEX trading volume surges, surpassing Ethereum by $400 million
BITCOIN NEWS

Daily DEX trading volume surges, surpassing Ethereum by $400 million

By Crypto FlexsJanuary 6, 20243 Mins Read
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Daily DEX trading volume surges, surpassing Ethereum by 0 million
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Arbitrum, a renowned Layer-2 (L2) scaling solution, has achieved remarkable results. upward trajectory After the native token ARB is launched in March 2023. The value of ARB has surged 74% in the past 30 days, demonstrating growing market interest in the protocol.

In particular, Arbitrum’s daily decentralized exchange (DEX) trading volume has surged significantly, giving the protocol momentum. Surpass Ethereum (ETH) appeared first on this key indicator.

This milestone highlights Arbitrum’s growing adoption and awareness of scalability within the decentralized finance (DeFi) ecosystem.

Arbitrum sets new DEX record.

According to data On DefiLlama, Arbitrum’s daily DEX trading volume reached an impressive $1.834 billion in the last 24 hours, surpassing Ethereum’s $1.444 billion volume. Analyzing DefiLlama’s data, it becomes clear that Arbitrum’s growth extends beyond daily DEX volume.

The weekly change in ARB value surged 32.58%, demonstrating the token’s strong performance in the market. Moreover, Arbitrum’s 7-day trading volume reached an impressive $6.84 billion, indicating robust trading activity for the protocol.

ARB’s daily DEX trading volume surpasses ETH. Source: DefiLlama

In terms of total value locked (TVL) on DEX, Arbitrum accounted for $1.297 billion, accounting for 33.40% of total TVL. In comparison, Ethereum’s TVL was $5.92 billion, accounting for 26.29% of the total. This demonstrates the growing importance of Arbitrum as users increasingly recognize its potential for efficient and secure decentralized transactions.

ARB’s financial indicators soar

Token terminal further demonstrating the growth of the protocol ecosystem data It shows that Arbitrum’s market capitalization (circulation) increased by 83.84% to $2.56 billion.

that much monetization Arbitrum has experienced significant growth, increasing 79.82% to $11.66 million in the last 30 days.

Also, looking at the fully diluted market capitalization, Arbitrum rose 83.84%, reaching $20.07 billion.

Arbitrum’s annual revenue increased significantly, increasing 101.67% to $141.81 million. This figure represents expected revenue for one year on a current basis. monthly revenueIt highlights the continued growth of the protocol.

In terms of fees generated, Arbitrum’s 30-day figure increased 79.82% to $11.66 million, demonstrating the protocol’s ability to capture a significant portion of transaction fees within the ecosystem.

On a year-to-date basis, fees increased 101.67%, reaching $141.81 million, further validating the protocol’s revenue growth and economic potential.

decision
The daily chart shows the price decline of ARB over the last 24 hours. Source: TradingView.com ARBUSDT

Nonetheless, 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. nevertheless retreatIt is still up 36% in the last 14 days, showing the token’s bullish momentum.

Featured image from Shutterstock, chart from TradingView.com

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

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