- Arbitrum’s TVL grew to over $2.1 billion.
- Transactions recently spiked to around 2.8 million in a single day.
Arbitrum’s [ARB] Total Value Locked (TVL) has experienced notable growth recently. This expansion can be attributed to a recent strategic move by the team, and other key metrics have also shown positive responses.
Arbitrum sees a rise in key network metrics
AMBCrypto’s analysis of Arbitrum’s Total Value Locked (TVL) chart on DefiLlama revealed a consistent upward trend over the past few weeks. Around the 20th of October, the TVL was around $1.7 billion, and at the time of this writing, it was over $2.1 billion.
Notably, it is not just the TVL that has experienced growth; the number of transactions has also been steadily increasing. In the last two days alone, there have been significant surges.
On the 25th of November, the transaction count reached 2.81 million, and it remained at that level as of this writing. The last time such transaction volumes were observed was around March, when transactions exceeded 3 million.
Source: DefiLlama
While the surge in TVL and transaction volume is more pronounced, there’s also an upward trend in the number of active addresses. Previously below 150,000, the press time count has risen to over 188,000.
Additionally, another noteworthy metric showing an increase was the stablecoin market cap, which rose gradually from around $1.6 billion in the past month to around $1.8 billion at press time.
These positive trends in metrics are attributed to the incentive program coordinated by the DAO.
The Arbitrum STIP
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Author: Adewale Olarinde
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