Activity on Arbitrum Sees a Big Spike After Airdrop Rumors

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The Ethereum layer-2 scaling solution Arbitrum sees a surge in user activity following the rise in speculations that an airdrop is going to happen soon.

Delphi Digital has been tracking Arbitrum since August and shared a monthly market report which shows that user behavior and historical analysis exhibit trends of an exponential rise in transactions, total value locked, and daily active users at Arbitrum-based platforms.

Arbitrum has earned $1 million in fees in the last 30 days, a 134.41% gain. The fee increase also raised the Arbitrum protocol’s 30-day income by 46.91%. With $240,000 in revenues, Arbitrum ranks eighth among all DeFi protocols.

The speculative activity surrounding the Arbitrum token airdrop is at an all-time high. This tweet by Steven Goldfeder, the co-founder of OffchainLabs, the company behind Arbitrum, served as the catalyst.

The rumors of an airdrop led to an increase in the use of Arbitrum, and the community wished to have the best chance of receiving the airdrop. 

An earlier turbulent launch of a token airdrop by Optimism, a rival to Arbitrum, also doesn’t minimize the chances of an Arbitrum token airdrop anytime, and the community is excited about how Arbitrum will execute this initiative.

It stated that Offchain Labs’ platform saw a surge in weekly active users in October. Weekly active users have increased by 125% from October 10 to an all-time high of 282,000.

Nonetheless, on November 13, Arbitrum had 27,714 daily active users compared to 31,117 for Optimism.

Delphi Digital stated that the daily transactions on both Arbitrum and Optimism continue to rise, as both are handling more than 400,000 transactions per day on November 8.

The most recent data shows that Arbitrum now hosts 62% of Ethereum’s weekly transactions. Out of all the layer-2 solutions, Arbitrum has the greatest Total Value Locked at $2.61B.

Compiled by Coinbold

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