{"id":19559,"date":"2023-04-06T16:41:02","date_gmt":"2023-04-06T16:41:02","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/arbitrum-registers-record-activity-over-the-last-2-weeks-as-transactions-per-day-count-surges-bitcoin-news\/"},"modified":"2023-04-06T16:41:02","modified_gmt":"2023-04-06T16:41:02","slug":"arbitrum-registers-record-activity-over-the-last-2-weeks-as-transactions-per-day-count-surges-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/arbitrum-registers-record-activity-over-the-last-2-weeks-as-transactions-per-day-count-surges-bitcoin-news\/","title":{"rendered":"Arbitrum Registers Record Activity Over the Last 2 Weeks as Transactions per Day Count Surges \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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In the past 20 days, the Arbitrum blockchain has recorded a significant number of transactions coinciding with the recent ARB airdrop that occurred on March 23. About two weeks ago, on that day, the Arbitrum network recorded an all-time high of 2.72 million transactions settled in 24 hours.<\/strong><\/p>\n

L2 Network Arbitrum Records 2.72 Million Transactions in a Single Day, Transfer Count Remains Parallel With Ethereum\u2019s Daily Rate<\/h2>\n

The Ethereum Layer 2 (L2) scaling solution, Arbitrum, has seen a significant amount of activity over the last 20 days or since March 16, 2023. The surge in activity follows Arbitrum outpacing<\/a> Ethereum\u2019s number of transactions per day for the first time 41 days ago, on February 23, 2023. After the milestone on February 23, Arbitrum\u2019s transactions per day (TPD) dropped below Ethereum\u2019s TPD until March 16.<\/p>\n

\"Arbitrum<\/p>\n

At that time, Arbitrum\u2019s TPD once again surpassed Ethereum\u2019s TPD, and the network reached its all-time high (ATH) on March 23. That was the same day the ARB airdrop<\/a> took place, and 1.275 billion ARB was distributed across the ecosystem. The Arbitrum blockchain recorded 2.72 million transactions, while Ethereum recorded 1.07 million.<\/p>\n

As far as the L2 scaling project Optimism is concerned, the network has seen roughly 150,000 to 430,000 transactions per day. When Arbitrum recorded the 2.72 million TPD, Optimism saw just over 228,000 transactions on the same day. Since the Arbitrum TPD ATH, the network has seen around 1 million TPD since then, according to Dune Analytics data<\/a>.<\/p>\n

Statistics show that the current cost to transact on the Arbitrum network is $0.33 per transaction, while the median-sized Ethereum network transaction cost is 0.0018 ETH or $3.47<\/a> per transfer. Arbitrum\u2019s native token, ARB<\/a>, has been trading for prices between $1.22 to $1.28 per unit.<\/p>\n

ARB has an overall market capitalization of around $1.5 billion, and ARB is ranked 40th among the top crypto market valuations. ARB\u2019s trading volume over the last day has been around $556 million, and presently, the crypto asset is down 85% from its $8.67 ATH. It is also 10% higher than the all-time low of $1.11 per unit recorded 14 days ago.<\/p>\n

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Airdrop<\/a>, All time high<\/a>, arb<\/a>, Arbitrum<\/a>, ATH<\/a>, Blockchain<\/a>, Blockchain Networks<\/a>, blockchain technology<\/a>, consensus mechanism<\/a>, cost analysis<\/a>, Crypto<\/a>, crypto traders<\/a>, Cryptocurrency<\/a>, decentralized applications<\/a>, decentralized finance<\/a>, DeFi<\/a>, Digital Assets<\/a>, Dune Analytics<\/a>, Ethereum<\/a>, Fees<\/a>, gas fees<\/a>, interoperability<\/a>, Layer 2 scaling<\/a>, Market Capitalization<\/a>, Market Valuations<\/a>, network<\/a>, Network Congestion<\/a>, Optimism<\/a>, PoS<\/a>, Proof-of-Stake<\/a>, Scalability<\/a>, scalability solutions<\/a>, Smart Contracts<\/a>, Token<\/a>, trading<\/a>, Trading Volume<\/a>, transaction cost<\/a>, transactions<\/a>, transfer<\/a><\/div>\n<\/div>\n

What are your thoughts on the potential of L2 scaling solutions like Arbitrum to address the scalability issues of blockchain networks? Share your thoughts about this subject in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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