Arbitrum

Spike

LayerZero

<div class="flex-shrink-0 flex flex-col relative items-end"> 
 <div> 
  <div class="pt-0.5 juice:pt-0"> 
   <div class="gizmo-bot-avatar flex h-6 w-6 items-center justify-center overflow-hidden rounded-full juice:h-8 juice:w-8"> 
    <h4 class="relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8"><strong>This event set a record day for Arbitrum rollups, totaling $3.43 million in revenue and $3.29 million in net profit.</strong></h4> 
   </div> 
  </div> 
 </div> 
</div> 
<div class="group/conversation-turn relative flex w-full min-w-0 flex-col agent-turn"> 
 <div class="flex-col gap-1 md:gap-3"> 
  <div class="flex flex-grow flex-col max-w-full"> 
   <div class="min-h-[20px] text-message flex flex-col items-start whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 juice:w-full juice:items-end overflow-x-auto gap-2" dir="auto" data-message-author-role="assistant" data-message-id="13617e62-943d-419b-9b57-a4b4de5b1c37"> 
    <div class="flex w-full flex-col gap-1 juice:empty:hidden juice:first:pt-[3px]"> 
     <div class="markdown prose w-full break-words dark:prose-invert light"> 
      <p>The LayerZero airdrop caused a surge in transactions as users rushed to claim tokens.</p> 
     </div> 
    </div> 
   </div> 
  </div> 
 </div> 
</div> 
<h5><strong>Spike in Transactions Due to LayerZero Airdrop</strong></h5> 
<p>Consequently, the median gas fee on Arbitrum skyrocketed to nearly 35 gwei during this period. This highlighted the strain on the network and the heightened demand for transaction processing. The mandatory donations associated with the LayerZero airdrop significantly impacted Arbitrum’s operations on June 20.</p> 
<p>As users joined the airdrop, <a href="https://arbitrum.io/rollup" target="_blank" rel="noopener">Arbitrum’s rollup</a> surged in transaction volumes. This increased activity translated into substantial revenue generation for the network, reaching $3.43 million in a single day. Moreover, after accounting for operational costs, Arbitrum achieved a remarkable net profit of $3.29 million, setting a new benchmark for daily earnings within the rollup ecosystem.</p> 
<p><img decoding="async" class="wp-image-143733 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxfgghfhg-300x140.png" alt="" width="651" height="304" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxfgghfhg-300x140.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxfgghfhg-768x357.png 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxfgghfhg-903x420.png 903w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxfgghfhg-696x324.png 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxfgghfhg.png 976w" sizes="(max-width: 651px) 100vw, 651px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://dune.com/datawarlock/arbitrum-economics" target="_blank" rel="noopener">Dune</a></strong></h6> 
<p>The LayerZero airdrop’s opening marked a pivotal moment for Arbitrum, as it underscored the platform’s scalability challenges and its capability to handle large-scale transaction volumes under pressure.</p> 
<h5><strong>More About LayerZero’s Airdrop on Arbitrum</strong></h5> 
<p>Despite the congestion and higher <a href="https://www.altcoinbuzz.io/?s=gas+fees" target="_blank" rel="noopener">gas fees</a> experienced during the airdrop period, Arbitrum demonstrated resilience in processing transactions efficiently within its rollup framework. The revenue surge reflects growing adoption and economic incentives in layer 2 dApps and token distributions.</p> 
<p><img decoding="async" class="wp-image-143734 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcbvcnbvfdgfss-300x126.png" alt="" width="667" height="280" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcbvcnbvfdgfss-300x126.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcbvcnbvfdgfss-768x323.png 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcbvcnbvfdgfss-696x293.png 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcbvcnbvfdgfss.png 975w" sizes="(max-width: 667px) 100vw, 667px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://dune.com/hildobby/gas?Blockchain_e6dda0=Arbitrum+One" target="_blank" rel="noopener">Dune</a></strong></h6> 
<p>Looking ahead, the success of Arbitrum’s revenue and profit metrics on June 20 highlights the platform’s role in facilitating scalable and cost-effective transactions for Ethereum users. As layer 2 solutions continue to evolve and integrate with the <a href="https://www.altcoinbuzz.io/?s=Ethereum+ecosystem" target="_blank" rel="noopener">Ethereum ecosystem</a>, managing network congestion and optimizing transaction costs will remain critical challenges.</p> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="alignnone size-full wp-image-123700" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg" sizes="(max-width: 1197px) 100vw, 1197px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg 1197w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1068x132.jpg 1068w" alt="" width="1197" height="148"></a></p> 
<div class="youtube-embed" data-video_id="T71aF-KnTxo">
 <iframe title="Crypto AI + THIS Altcoin Project is a BIG Game Changer" width="696" height="392" src="https://www.youtube.com/embed/T71aF-KnTxo?feature=oembed&amp;enablejsapi=1" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div> 
<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/arbitrums-record-revenue-during-layerzero-airdrop/">Arbitrum’s Record Revenue During LayerZero Airdrop</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Arbitrum’s Record Revenue During LayerZero Airdrop

Altcoin Buzz

Other articles published on Jun 21, 2024

250 Million XRP Find Way out of Ripple's Pocket

Low-Cap Altcoins with Potential for 30x Returns!

Best Crypto Presale in June 2024 – MBAG Surpasses Cosmos, Binance with $2.5M+

Dogecoin (DOGE) Price is Down 24%; Sell or Buy Dip?

Just 4 Days Left to Invest in Sealana Presale as Trending Meme Coin Hits $5M Milestone

Top Crypto Presale in 2024 MoonBag Expected to Skyrocket to $1 as Fantom Struggles and Hedera See...

Join our free newsletter for daily crypto updates!