DeFiLlama says decentralized exchange (DEX) transaction volume on Arbitrum hits a weekly high of $2.62 billion after a 34.5% increase over the past seven days, third only to Ethereum and Binance Smart Chain became an active blockchain network. data.
Meanwhile, the daily trading volume of DEX on Arbitrum was $373.1 million on February 20th, second only to Ethereum. Arbitrum’s total value lock (TVL) was $1.16 billion and cumulative volume he was $122.26 billion.
The spike in weekly transaction volume was driven by the rise of most native application tokens on the Arbitrum network.
Top 5 DEX
Based on weekly cumulative volume, Arbitrum’s top five DEXs were Uniswap, SushiSwap, Camelot, GMX, and Curve.
Uniswap’s 7-day cumulative volume on Arbitrum increased 35.64% on a weekly basis to $1.32 billion, while its daily cumulative volume on February 20 was $164.06 million. His Uniswap cumulative volume on the network is $25.21 billion.
SushiSwap had the second highest seven-day cumulative trading volume on Arbitrum at $572.96 million, up 23.95% on a weekly basis, while Camelot had the third highest at $149.33 million.
GMX – Swap’s 7-day cumulative volume showed the highest weekly growth rate, up 65.41% to $89.86 million, slightly ahead of Curve’s $89.58 million.
Fastest growing user base
According to a Bernstein research report, Arbitrum is one of the fastest growing blockchain networks in terms of user base, CoinDesk. report.
According to the report, the growth is mainly driven by DeFi and gaming applications on the network. The number of new user acquisitions has doubled for him in 6 months and transaction growth has reached almost 50% of his daily Ethereum transactions in January.
Additionally, reports show that revenue in January quadrupled compared to six months ago.
