The Surge of Independent Users on the Arbitrum One Network

02/19/2023 13:47 • AI & Tech Insights • 65 views

According to the latest data of Dune Analytics, the number of independent users of the Arbitrum One Network has exceeded 2.5 million, currently 2509180, and the total number of network transactions has exceeded 100 million, reaching 114394584 at the time of writing. In addition, the total deposit of Arbitrum One also exceeded 2 million ETHs, which is 2196555 ETH up to now, which is about US $3.7 billion at the current price. The total deposit of Arbitrum Nova is 12228 ETH, which is about US $20 million.

The number of independent users of the Arbitrum One Network exceeded 2.5 million, and the total number of transactions exceeded 100 million

Interpretation of the news:

The data from Dune Analytics shows that the Arbitrum One Network has experienced a significant surge in independent users, exceeding 2.5 million. The network has also reached over 100 million transactions, showcasing the efficiency and popularity of the platform. The total deposit of Arbitrum One has exceeded 2 million ETHs, resulting in approximately $3.7 billion at the current price, indicating the financial potential of the network.

Arbitrum One is an Ethereum Layer 2 scalability solution that allows users to perform transactions at a cheaper and faster rate compared to Ethereum’s Layer 1. By using Arbitrum One, users can enjoy lower gas fees while maintaining the high level of security provided by the Ethereum blockchain.

The significant surge in independent users indicates the demand and trust of users towards the network. Independent users refer to users who are not associated with a particular dApp, indicating they utilize the network for general transactions. The increase in the number of independent users suggests that they recognize the effectiveness of the platform and are willing to use it for their transactions.

Furthermore, the total transaction volume of the network has reached over 100 million transactions, affirming the efficiency and scalability of Arbitrum One. The platform’s ability to process such a high volume of transactions is an essential indicator of its scalability, making it a reliable solution for dApp developers looking to expand their user base.

Moreover, the total deposit of Arbitrum One has exceeded 2 million ETHs, resulting in $3.7 billion at the current price. This demonstrates the financial potential of the network, and its ability to hold large transactions while providing a high level of security. Additionally, the total deposit of Arbitrum Nova is 12228 ETH, making it a minuscule fraction of the total deposit for the network.

In conclusion, the surge in the number of independent users, total network transactions, and total deposit depicts the reliability and scalability of the Arbitrum One Network. It showcases the growing demand for more efficient and cost-effective solutions to perform transactions on the Ethereum blockchain.

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