Arbitrum has seen the fastest user growth of any major blockchain, investment firm Bernstein said in a February 20 research report. He also noted that project tokens traded on the network were among the best performers of the year.
According to Bernstein, transactions are growing rapidly, reaching almost 50% of Ethereum’s daily transactions in January. Daily trading volume and revenue quadrupled from six months ago. In addition, it is said that the activities of developers are also active.
Analysts Gautam Chhugani and Manus Agrawal refer to Decentralized Finance (DeFi), a range of financial applications that run on the blockchain, stating that “arbitrum is a user/ We are seeing remarkable growth in active users/transactions/revenue, driven by broad adoption and scale-up of DeFi and gaming applications on-chain.”
The growing app ecosystem is driving blockchain adoption, with DeFi and gaming applications driving growth, according to the report. This includes GMX, a decentralized exchange (DEX), with a daily trading volume of about $400 million and daily revenue of $500,000. there is
Other trading platforms emerging on Arbitrum include Gains Network, Vela Exchange, Camelot, Rage Trade, Dopex, Lyra and Buffer Finance, the report said. Lending and asset management apps Radiant Capital and Factor are also gaining popularity, and games built on the TreasureDAO ecosystem are also scaling well.
The momentum in new wallet creations, activations and transactions is very strong, with the number of new users doubling in six months and the number of daily active users trebling in the same period. Bernstein attributes the growth to Arbitrum being the only chain with locked liquidity.
|Translation: coindesk JAPAN
|Editing: Toshihiko Inoue
|Image: Shutterstock
|Original: Arbitrum’s User Base Is Fastest Growing Among Leading Blockchains: Bernstein
The post Arbitrum’s user base is growing rapidly ─ DeFi and games drive: Report | coindesk JAPAN | Coindesk Japan appeared first on Our Bitcoin News.