Arbitrum (ARB) exceeds Ethereum in DEX trading volume, L2 token hits record high

Ethereum L2’s breakthrough

According to the latest data from DeFiLlama, as of the 4th, the daily trading volume of the decentralized exchange (DEX) of the layer 2 network “Arbitrum (ARB)” exceeded $1.8 billion, followed by Ethereum ($1.444 billion), Solana ($608 million), taking the top spot.

Source: DeFillama

Meanwhile, L2Beat data shows that on the 3rd, the total assets under custody (TVL) of Ethereum’s Layer 2 protocol reached $21.16 billion, an all-time high. Among them, Arbitrum’s TVL was in first place with $10 billion, followed by Optimism’s TVL in second place with $5.8 billion.

Mainly TVL and transaction volume are important indicators regarding network activity and penetration. On the back of this momentum, the prices of Arbitrum’s native token ARB and Optimism’s OP token are trading at approximately $2 and $3.6, respectively, hitting new all-time highs.

Source: CoinMarketCap

Behind this momentum is Ethereum’s Dencun upgrade scheduled for Q1 2024. The upgrade is particularly notable for the introduction of EIP-4844 (Proto-Danksharding), which is expected to reduce trading fees for layer 2 solutions such as Arbitrum and Optimism by up to 10x, up from 2x today. has been done.

Source: Coinbase

Note that L2Beat specializes in Layer 2 solutions and may provide more detailed data than DeFiLlama in aggregating assets bridged between Layer 1 and Layer 2 or between different Layer 2 solutions. be.

connection:Arbitrum (ARB) | Investment information/real-time price chart

connection:Optimism (OP) | Investment information/Real-time price chart

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