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Arbitrum On-Chain Accounts Surpass Three Million

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According to the data of Dune Analytics on February 27, the total number of Arbitrum on-chain accounts has exceeded 3 million, reaching 3.04 million so far, of…

Arbitrum On-Chain Accounts Surpass Three Million

According to the data of Dune Analytics on February 27, the total number of Arbitrum on-chain accounts has exceeded 3 million, reaching 3.04 million so far, of which the number of active accounts is 2.347 million, accounting for about 78.1%. In addition, at present, the total number of smart contracts created by Arbitrum has reached 1580279, and the total value of locks on the chain has reached $4.424 billion, of which the value of ETH locks is about $1.192 billion, accounting for about 27%.

The total number of Arbitrum on-chain accounts exceeded 3 million, with active accounts accounting for about 78.1%

Interpretation of the news:


The data from Dune Analytics on February 27 reveals that the total number of Arbitrum on-chain accounts has exceeded 3 million, with a staggering 2.347 million accounts being active. This accounts for approximately 78.1% of the total accounts, indicating that Arbitrum is becoming increasingly popular. The use of smart contracts on this network has also increased, with a total of 1,580,279 smart contracts created so far. The value of locks on the chain has reached $4.424 billion, with ETH locks accounting for about $1.192 billion or 27% of this value.

This data indicates that the Arbitrum network is gaining traction and becoming a popular choice for decentralized finance (DeFi) applications. Arbitrum is a Layer 2 scaling solution that aims to improve transaction speed and reduce fees on the Ethereum blockchain. It does this by processing transactions on its own chain before communicating with the main Ethereum network. This method reduces congestion on the Ethereum network and allows for more efficient use of resources.

The increasing number of active accounts on the Arbitrum network suggests that users are finding it to be a reliable and efficient solution for conducting transactions. The high number of smart contracts created on the network further demonstrates its potential for a broad range of use cases. Smart contracts are self-executing agreements that automate processes and enforce rules, providing increased transparency and efficiency in various industries.

The substantial value of locks on the chain is also noteworthy, as it shows that users have confidence in the security of the Arbitrum network. This confidence is likely to drive further adoption of the network and attract more users and developers to develop DeFi applications on the Arbitrum network.

In conclusion, the data from Dune Analytics indicates that the Arbitrum network is growing in popularity and gaining traction among users. The high number of active accounts, smart contracts, and the significant value of locks on the chain indicates that users are finding Arbitrum to be a reliable and efficient solution for DeFi applications. The network’s potential for increased adoption and development further highlights its significance in the DeFi space.

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