Bittime - Arbitrum, Ethereum's Layer 2 protocol, has just achieved a fantastic feat! The total value of transactions taking place on Arbitrum via Uniswap, a leading decentralized cryptocurrency exchange (DEX), has surpassed the $150 billion US dollar mark.
Based on Uniswap Labs' official announcement on social media last Monday, Arbitrum became the first Layer 2 protocol to successfully reach this figure on Uniswap.
As of early May, the total volume of swaps (exchanging crypto assets) that occurred on Arbitrum via Uniswap reached $150.2 billion US dollars.
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Arbitrum Ratings
According to DeFiLlama, a blockchain data tracking service, the total value of digital assets locked (TVL) on Arbitrum reached $2.64 billion US dollars. This figure makes Arbitrum the Layer 2 protocol with the largest TVL.
Also read: Arbitrum (ARB): Its Ecosystem and Latest ARB Airdrop
This figure also places it in fifth place in the protocol with the largest TVL overall. They are under Layer 1 networks such as Solana, BSC, Tron, and Ethereum.
Arbitrum Native Token (ARB)
Source: Bittime
The price of Arbitrum's native token, ARB, was at $1.08 US dollars (around Rp 17,300) as of May 7, at 16.24 WIB. The price fell nearly 4% in the last 24 hours, according to data from Bittime.
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Performance Improvements
Earlier in March, Offchain Labs, a major contributor to Arbitrum, released the latest enhancement to Layer 2 called Atlas. This upgrade adds support for block transactions.
Also read: Arbitrum (ARB) Predictions According to Crypto Academy: Will ARB Continue to Soar?
This aims to lower transaction fees on Ethereum Layer 2, as The Block previously reported.
Uniswap itself, based on DeFiLlama data as of May 6, is still the largest decentralized exchange based on TVL, with a locked value of 5.54 billion US dollars.
Get to know Arbitrum
Arbitrum is a Layer 2 solution designed to enhance Ethereum's smart contract capabilities. In other words, Arbitrum makes Ethereum smart contracts faster, more scalable, and even more private.
Developers can easily run Ethereum Virtual Machine (EVM) contracts and unmodified Ethereum transactions on Arbitrum's Layer 2.
Interestingly, they still benefit from the already excellent security of the Ethereum main network.
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Arbitrum exists to overcome the shortcomings of current Ethereum-based smart contracts, such as inefficiency and high execution costs. This often makes Ethereum users feel burdened because transaction fees are expensive.
How to Buy Arbitrum (ARB) on Bittime
You can buy and sell Arbitrum (ARB) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Arbitrum (ARB) is available on Bittime with the market pair ARB/IDR. To be able to buy ARB IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Arbitrum (ARB) on Bittime.
Monitor price chart movements for Arbitrum (ARB), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
How Will Arbitrum Change Ethereum L2 and ARB Prices?
Token Unlock Week: Potential Turning Point for ARB, AXS, and More
Arbitrum (ARB): Its Dominance, Challenges and Potential in the Layer 2 Sector
Celestia (TIA) Releases New Technology to Improve the Arbitrum Ecosystem (ARB)
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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