Token

Arbitrum

Gains Network

Coin

<p>Arbitrum coin rise as transaction volumes on the network overtook those for <a href="https://thecoinrise.com/solana-surpasses-ethereum-and-tron-in-stablecoin-volume-performance/" target="_blank" rel="noopener noreferrer nofollow">Solana</a>-based applications, which boomed after a meme coin-led frenzy in December.</p>
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  <p>Arbitrum’s ARB Coin Rise and neared $2 on Wednesday to <u>set a record high</u>&nbsp;and total value locked (TVL) topped $2.5 billion as traders seemingly trickled to the network in anticipation of it&nbsp;<u>driving the next wave</u>&nbsp;of gains in the crypto market.</p>
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  <p>The price has climbed some 10% in the past 24 hours, beating the broader crypto market, while on-chain volumes on Arbitrum-based applications crossed $920 million. The&nbsp;<a href="https://www.coindesk.com/indices/" rel="noopener noreferrer nofollow">CoinDesk Market Index</a>&nbsp;dropped 1.7% in the same period. The Arbitrum influx overtook volumes of Solana-based applications, which boomed after a meme coin-led frenzy in December.</p>
  <p>Data from DefiLlama shows the TVL on Arbitrum-based applications has increased by $1 billion since October, alongside an&nbsp;<a href="https://defillama.com/chain/Arbitrum?volume=true&amp;inflows=true" rel="noopener noreferrer nofollow"><u>increase in net inflows</u></a>.</p>
  <p><img fetchpriority="high" decoding="async" class="size-full wp-image-88192 aligncenter" src="https://thecoinrise.com/wp-content/uploads/2024/01/TG7FY34EXZFFTH4M5J2Q4GQNEU.jpg" alt="" width="811" height="323" srcset="https://thecoinrise.com/wp-content/uploads/2024/01/TG7FY34EXZFFTH4M5J2Q4GQNEU.jpg 811w, https://thecoinrise.com/wp-content/uploads/2024/01/TG7FY34EXZFFTH4M5J2Q4GQNEU-300x119.jpg 300w, https://thecoinrise.com/wp-content/uploads/2024/01/TG7FY34EXZFFTH4M5J2Q4GQNEU-768x306.jpg 768w, https://thecoinrise.com/wp-content/uploads/2024/01/TG7FY34EXZFFTH4M5J2Q4GQNEU-150x60.jpg 150w, https://thecoinrise.com/wp-content/uploads/2024/01/TG7FY34EXZFFTH4M5J2Q4GQNEU-696x277.jpg 696w" sizes="(max-width: 811px) 100vw, 811px"></p>
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   <p>Arbitrum’s token incentives appear to have contributed to increased attention toward ecosystem plays. In the past week,&nbsp;<a href="https://twitter.com/GMX_IO/status/1740357196297421168" rel="noopener noreferrer nofollow"><u>users of decentralized exchanges GMX</u></a>&nbsp;and&nbsp;<a href="https://twitter.com/GainsNetwork_io/status/1742257000480940418" rel="noopener noreferrer nofollow"><u>Gains Network</u></a>&nbsp;have benefited from increased rewards and lower fees as part of the incentives plan – likely improving sentiment for ARB tokens.</p>
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   <p>In October, Arbitrum&nbsp;<u>distributed about $40 million worth</u>&nbsp;of ARB tokens to projects that were built on the network as part of a short-term incentives plan, with projects receiving anywhere from a few thousand dollars to $30 million worth of ARB tokens.</p>
   <p>GMX bagged the most rewards at 12 million ARB, worth just over $10 million, followed by Gains Network at 7 million ARB.</p>
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<p>The post <a href="https://thecoinrise.com/arbitrum-coin-rise-token-hits-record-high-as-locked-value-surpasses-2-5b/" rel="noopener noreferrer nofollow">Arbitrum Coin Rise: Token Hits Record High as Locked Value Surpasses $2.5B</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.</p>

Arbitrum Coin Rise: Token Hits Record High as Locked Value Surpasses $2.5B

TheCoinrise Media

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