Ethereum

Arbitrum

Million

Daily

Arbitrum, a prominent Layer-2 (L2) scaling solution, has been on a remarkable <a href="https://www.newsbtc.com/altcoin/arbitrum-rending-social-media-arb/" target="_blank" rel="noopener ">upward trajectory</a> since the launch of its native token, ARB, in March 2023. The past 30 days witnessed a staggering 74% surge in ARB’s value, underscoring the growing market interest in the protocol. 
Notably, Arbitrum’s daily decentralized exchange (DEX) volume has experienced a significant surge, propelling the protocol<a href="https://www.newsbtc.com/analysis/arb/arbitrum-reaches-major-milestone-in-tvl-as-price-rallies/" target="_blank" rel="noopener "> to surpass Ethereum</a> (ETH) for the first time in this key metric.&nbsp; 
This milestone highlights Arbitrum’s increasing adoption and recognition for its scalability within the decentralized finance (DeFi) ecosystem. 
<h2 id="arbitrum-sets-new-dex-records">Arbitrum Sets New DEX Records</h2> 
According to <a href="https://defillama.com/dexs/chains" target="_blank" rel="noopener nofollow">data </a>from DefiLlama, Arbitrum’s daily DEX volume reached an impressive $1.834 billion over the past 24 hours, surpassing Ethereum’s volume of $1.444 billion.&nbsp;Analyzing DefiLlama’s data, it becomes evident that Arbitrum’s growth extends beyond daily DEX volume alone.&nbsp; 
The weekly change in ARB’s value soared by 32.58%, showcasing the token’s strong performance in the market. Moreover, Arbitrum’s seven-day volume reached an impressive $6.804 billion, indicating robust trading activity on the protocol. 
<img loading="lazy" decoding="async" class="size-large wp-image-568344" src="https://www.newsbtc.com/wp-content/uploads/2024/01/Screenshot_11.jpg?w=860&amp;resize=860%2C195" alt="Arbitrum " width="860" height="195" srcset="https://www.newsbtc.com/wp-content/uploads/2024/01/Screenshot_11.jpg?w=1541 1541w, https://www.newsbtc.com/wp-content/uploads/2024/01/Screenshot_11.jpg?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/01/Screenshot_11.jpg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/01/Screenshot_11.jpg?w=860&amp;resize=860%2C195 860w, https://www.newsbtc.com/wp-content/uploads/2024/01/Screenshot_11.jpg?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/01/Screenshot_11.jpg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/01/Screenshot_11.jpg?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
In terms of total value locked (TVL) in DEX, Arbitrum accounted for $1.297 billion, constituting 33.40% of the total TVL.&nbsp;In comparison, Ethereum’s TVL stood at $5.92 billion, making up 26.29% of the total. This demonstrates Arbitrum’s growing prominence as users increasingly recognize its potential for efficient and secure decentralized trading. 
<h2 id="arb-s-financial-metrics-soar">ARB’s Financial Metrics Soar</h2> 
Further demonstrating the growth of the protocol’s ecosystem, token terminal <a href="https://tokenterminal.com/terminal/projects/arbitrum" target="_blank" rel="noopener nofollow">data </a>shows that Arbitrum’s market capitalization (in circulation) has increased by an impressive 83.84% to $2.56 billion.&nbsp; 
The <a href="https://www.newsbtc.com/analysis/arb/arbitrum-arb-maintains-impressive-30-price-uptrend-analyst-predicts-breakout-above-2/" target="_blank" rel="noopener ">revenue generated</a> by Arbitrum over the past 30 days has also experienced remarkable growth, with a 79.82% increase to reach $11.66 million.&nbsp; 
Furthermore, looking at the fully diluted market capitalization, Arbitrum has witnessed an identical 83.84% rise to reach $20.07 billion.&nbsp; 
Arbitrum’s revenue on an annualized basis has seen a significant boost, surging by 101.67% to reach $141.81 million. This figure represents the projected revenue for a full year based on the current <a href="https://www.newsbtc.com/news/arb-soars-25-in-24-hours-as-arbitrum-preps-for-major-projects-in-2024/" target="_blank" rel="noopener ">monthly revenue</a>, underscoring the protocol’s sustained growth. 
In terms of fees generated, Arbitrum’s 30-day figures have surged by 79.82% to reach $11.66 million, demonstrating the protocol’s ability to capture a significant share of transactional fees within its ecosystem.&nbsp; 
On an annualized basis, fees have soared by 101.67% to reach $141.81 million, further validating the protocol’s revenue growth and economic potential. 
<img loading="lazy" decoding="async" class="size-large" src="https://www.tradingview.com/x/v3ggMzeK/" alt="Arbitrum " width="1815" height="858"> 
Nevertheless, the protocol’s native token, ARB, is trading at $1.8962, down over 8% in the past 24 hours and below its all-time high (ATH) of $2.11 set on Thursday. Despite this <a href="https://www.newsbtc.com/analysis/arb/arbitrum-network-faces-major-outage-arb-token-faces-4-decline/" target="_blank" rel="noopener ">pullback</a>, it is still up 36% over the past 14 days, demonstrating the token’s bullish momentum. 
Featured image from Shutterstock, chart from TradingView.com

Arbitrum (ARB) Rise: Daily DEX Volume Surges, Outpacing Ethereum By $400 Million

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