• Arbitrum recently crossed the 9 million total addresses count.
• However, the daily transactions count on the network is falling.

While the cumulative count of distinct addresses on Layer 2 (L2) platform Arbitrum [ARB] recently crossed the 9-million mark, daily transactions on the optimistic rollup network were dwindling, on-chain data revealed.

Realistic or not, here’s ARB’s market cap in BTC’s terms

As of 7 July, the total number of addresses on Arbitrum was 9.67 million, per data from ArbiScan. Information from the same data provider revealed that the network has been plagued by a decline in daily transactions since the end of Q1.

After the count of daily transactions on Arbitrum registered an all-time high of 2.73 million on 23 March, it has since trended downwards. In Q2, this fell consistently by over 50%.

As of 7 July, daily transactions completed on Arbitrum totaled 742,667, declining by 73% from 23 March’s high.

While Arbitrum dealt with a shortfall in its daily transactions, data from TheBlock showed a steady increment in daily transactions completed on Optimism [OP] since the beginning of May.

According to the data provider, the daily transactions count of a 7-day moving average has since climbed by over 200%. As of 6 July, 484,710 transactions were completed on Optimism.

Go to Source to See Full Article
Author: Abiodun Oladokun

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