Bittime - Ethereum Layer 2 protocol, Arbitrum, has made history by surpassing $150 billion in transaction volume on the Uniswap decentralized exchange.
Arbitrum's New Achievements
This marks Arbitrum as the first Layer 2 to cross that threshold in the DEX, a fact shared by Uniswap Labs via a social media post on Monday.
As of early May, Arbitrum's cumulative exchange volume had reached $150.2 billion, an impressive figure reflecting exponential growth in the crypto ecosystem. According to blockchain data tracker DeFiLlama, Arbitrum's Total Value Locked (TVL) was recorded at $2.64 billion (around Rp42 trillion), making it the largest Layer 2 by TVL and the fifth largest protocol after Layer 1 such as Solana, BSC, Tron, and Ethereum.
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Token ARB
The protocol's native token, ARB, traded at $1.07 (approximately Rp17,178.85) at 12:45 PM ET (16:45 UTC) on May 6 after experiencing a decline of 2% or $0.022 in the last 24 hours, according to The Block's ARB price page.
Offchain Labs, a core contributor to Arbitrum, released the latest update to Layer 2 called Atlas in March of this year. This update adds block transaction support to help lower Ethereum Layer 2 transaction fees, as previously reported by The Block.
Uniswap, as the largest decentralized exchange by TVL, maintained $5.54 billion as of May 6, according to DeFiLlama data.
Conclusion
Arbitrum's achievement not only demonstrates the strength and potential of Layer 2 solutions, but also confirms Uniswap's position as a leader in the decentralized exchange market. With the ever-evolving DeFi ecosystem and the increasing adoption of Layer 2 solutions, we can expect more breakthroughs and innovations that will shape the future of decentralized finance.
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How to Buy Crypto on Bittime
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To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.
Learn the Complete Guide on How to Buy Crypto on Bittime.
Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
What Is Arbitrum, 7 Crypto & Blockchain Coins That Use Arbitrum Narrative
3 Hottest Cryptos 2024: TRON, DTX Exchange, Bittensor Big Money!
Ethereum ($ETH) Price Prediction 2024-2033: Will It Reach $10K?
DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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