Key Points
- Arbitrum’s unique addresses have increased, but its Total Value Locked (TVL) has declined.
- Despite the TVL drop, Arbitrum’s price surged by over 4% in the last 24 hours.
Arbitrum, a well-known layer-2, recently achieved a significant milestone that could potentially rival Ethereum.
CryptoRank.io, a platform for cryptocurrency research and analytics, shared a tweet detailing the top blockchains in terms of TVL per unique address. This metric is calculated by dividing the TVL by the number of unique addresses.
Arbitrum’s Performance
According to the tweet, Ethereum occupied the top spot, with Arbitrum following closely behind. Other blockchains like Avalanche, Tron, and Aptos also made it to the top five. Ethereum stood at $213, while Arbitrum was slightly lower at $195.
Arbiscan.io’s data showed that Arbitrum’s Unique Addresses have risen sharply, exceeding 20 million. This indicates strong network growth. However, a closer look revealed that Arbitrum’s TVL growth, a significant factor in the TVL per unique address calculation, has been declining.
Arbitrum’s TVL and Value
Artemis’ data showed a sharp drop in Arbitrum’s TVL over the last 30 days. This suggests that Arbitrum has to significantly improve its performance to surpass Ethereum. Arbitrum’s captured value also saw a decrease last month, evident from the decline in its fees and revenue. Despite these drops, Arbitrum’s network activity remained high, with an increase in daily active addresses and transactions.
Meanwhile, Arbitrum’s price has seen an uptick. According to CoinMarketCap, Arbitrum’s price increased by more than 4% in the last 24 hours. At the time of writing, Arbitrum was trading at $1.47, with a market capitalization of over $3.9 billion.
