arbitration Witnessed significant growth over the past month. Blockchain also has more and more users and more and more cooperation.but what caused Is the L2 chain witnessing an influx of these positive developments?
let’s talk about the facts
Arbitrum’s Total Value Locked (TVL) has continued to grow since July. From a TVL of $601.72 million to press time, Arbitrum has climbed all the way to $935.29 million.
Source: DeFiLlama
Additionally, Arbitrum has shown growth across the board. The number of unique addresses on Arbitrum has increased significantly over the past year. Since January, the blockchain has gained 957,324 new unique addresses. At the time of writing, the total number of unique addresses is 129 million, and this number is only expected to grow further.
However, day-to-day transactions on the Arbitrum network have seen some volatility over a few months. As shown in the graph below, the number of transactions on the Arbitrum network has been growing rapidly. This has been the case since the beginning of the year. However, the number of deals fell in August.
Source: Abiscayne
The number of deals also appears to have recovered since August, with relatively positive growth at press time. While Arbitrum is doing well with TVL and gaining new users, certain areas are showing uncertainty.
Arbitrum has seen a sharp drop in the number of daily depositors and withdrawers since its peak in 2021. In addition, the number of active depositors and withdrawers was relatively flat throughout the year. However, there was a surge in the number of deposits that occurred in September. Therefore, this can be seen as a positive sign for the chain.
Source: Dune Analysis
Another indicator of Arbitum’s growth could be the growing number of collaborations and partnerships.
Lots of fish in ‘OpenSea’
September 20, offshore, lead Web3 Market, announce or rather provide support to Arbitrum.A wide variety of NFTs such as coating, smolverseand Gmex Blueberry Club Will be available to OpenSea users. With this development, Arbitrum will be exposed to the large user base that OpenSea has. Ergo, helping Arbitrum grow.
In addition to the NFT space, Arbitrum has also made great strides in the DeFi sector. risk finance, The DeFi platform will also be launched on Arbitrum, strengthening its position in the DeFi market.
