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Arbitrum’s Dominance Expands: TVL Hits $10.4B, Trading Volume Nears $1B

Arbitrum’s Dominance Rises: Key Metrics Break Barriers

Arbitrum, a dominant player in the Layer 2 (L2) space, has further expanded its dominance. Current reports and metrics highlight Arbitrum as one of the top-performing assets this year.

Arbitrum Reaches Record High in TVL

According to data from L2 Beats, the Total Value Locked (TVL) of Arbitrum, the total value of all assets locked in Arbitrum, has recently seen an increase. The current TVL is around 10.4 billion dollars, representing a notable increase of 16%. In addition, the total TVL across various networks is over 21 billion dollars, attributable to the rise in Arbitrum’s TVL and other networks. With its current TVL, Arbitrum has a significant market share of 49%.

Arbitrum Volume Approaches 1 Billion Dollar Mark

Another encouraging indicator is Arbitrum’s trading volume, which has significantly increased according to DefiLlama. The network’s trading volume has surpassed 400 million dollars and is at over 900 million dollars at the time of writing, close to the 1 billion dollar mark. This mark has only been exceeded twice in the last nine months.

Rising Interest in ARB

Arbitrum has seen a notable increase in trading volume, particularly in the last three days. An analysis of the volume chart on Santiment shows that the ARB volume was around 1.3 billion dollars on January 2nd. However, at the time of writing, it has almost doubled and is over 2 billion dollars.

This increase in volume signals increased trading activity of ARB on various exchanges. In addition, the chart in the daily timeframe shows a remarkable growth of over 30% in the value of ARB in the last three days. The current trading price is about 1.9 dollars.

Conclusion

The rising dominance of Arbitrum, coupled with positive metrics, shows the growing interest and trust in this L2 solution. With its strong performance and growing market share, Arbitrum could play a significant role in the future of decentralized finance.

Sources: L2 Beats, DefiLlama, Santiment, Trading View