in the reportOn November 1, crypto research firm Delphi Digital stated that as of the week ending October 24, the total number of transactions for Arbitrum has increased 550% since August. Based on data from Dune Analytics.
Arbitrum is an optimistic roll-up created by Offchain Labs, a blockchain development company. It aims to scaling Ethereum smart contracts, using Optimistic Rollup technology to pool a large number of out-of-network transactions from Ethereum smart contracts and decentralized applications before sending them to Ethereum.
While well known protocols that use Arbitrum such as SushiSwap, Uniswap, GMX, Aave lending protocols include Stargate whichfrom the dataof L2Beat states that at the time of writing The company’s total value of locks (TVL) is $2.59 billion.
Delphi analysts noted that Weekly active users soared in Arbitrum, growing 125% since Oct. 10 to a new record high of 282,000 in the week ending Oct. 24.
Analysts also suggest that The huge increase in activity is likely from speculators trying to increase their network activity in hopes of getting more airdrops for the tokens.
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