Ethereum

Arbitrum

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Bitcoin

The Arbitrum network <a href="https://twitter.com/arbitrum/status/1649151883041206298" rel="nofollow noopener" target="_blank">celebrated</a> its 200 million milestones in terms of transactions. According to a <a href="https://beincrypto.com/learn/dune-analytics/" rel="nofollow noopener" target="_blank">Dune dashboard</a>, the network has over 4 million active users.



<figure class="wp-block-image size-full"><img width="936" height="762" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-437.png" alt="image 437" class="wp-image-293234" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-437.png 936w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-437-300x244.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-437-768x625.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-437-24x20.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-437-36x29.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-437-48x39.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-437-150x122.png 150w" sizes="(max-width: 936px) 100vw, 936px" /><figcaption>Source: <a href="https://dune.com/Henrystats/arbitrum-metrics?undefined=" target="_blank" rel="noreferrer noopener nofollow">Dune dashboard</a></figcaption></figure>



<h2 id="arbitrum-surpasses-btc-in-transaction-fees">Arbitrum surpasses BTC in transaction fees</h2>



Developed by New York-based startup Offchain Labs, Arbitrum is an &#8220;optimistic rollup&#8221; operating on the Ethereum blockchain. <a href="https://cryptofees.info/history/2023-04-20" rel="nofollow noopener" target="_blank">Recent data</a> from Crypto Fees reveals that Arbitrum collected nearly $800,000 in transaction fees within the last day, surpassing Bitcoin&#8217;s $600,000.



While the 7-day average fees for Arbitrum (ARB) remain marginally lower than Bitcoin&#8217;s—$387,000 compared to Bitcoin&#8217;s $630,000—the steadily rising figures could signal an increasing number of users opting for transactions on the Ethereum L2 network over Bitcoin (BTC).



Arbitrum has experienced a surge in transactions since its Nitro upgrade in August of last year, even surpassing the number of transactions on Ethereum itself. Despite the growing number of transaction fees on Arbitrum, the costs to transact have remained relatively stable.



The cost to send ETH on Arbitrum is around $0.10, while the estimated cost to swap tokens is $0.28. In comparison, the average transaction fee on Bitcoin hovers at approximately $2.05.

Arbitrum hits 200 million transactions, surpasses Bitcoin in daily transaction fees

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