{"id":369578,"date":"2024-02-11T06:00:15","date_gmt":"2024-02-11T00:30:15","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=369578"},"modified":"2024-02-10T18:25:10","modified_gmt":"2024-02-10T12:55:10","slug":"why-arbitrum-seems-to-be-the-most-desired-chain-for-defi","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/why-arbitrum-seems-to-be-the-most-desired-chain-for-defi\/","title":{"rendered":"Why Arbitrum seems to be the most desired chain for DeFi"},"content":{"rendered":"<ul>\n<li><em>Arbitrum accounted for over 50% of ETH&#8217;s total transaction volume across top optimistic rollups.<\/em><\/li>\n<li><em>Arbitrum had the highest TVL among all ETH scaling solutions.<\/em><\/li>\n<\/ul>\n<p>Despite the emergence of several <a href=\"http:\/\/ambcrypto.com\/category\/ethereum-news\/\" target=\"_blank\" rel=\"noopener\">Ethereum [ETH]<\/a> scaling solutions in the past year, <a href=\"http:\/\/ambcrypto.com\/predictions\/arbitrum-price-prediction\" target=\"_blank\" rel=\"noopener\">Arbitrum&#8217;s [ARB]<\/a> dominance in the landscape has remained largely intact.<\/p>\n<h4><strong>Arbitrum scales Ethereum and how!<\/strong><\/h4>\n<p>According to on-chain analytics firm IntoTheBlock, the layer-2 (L2) blockchain accounted for over 50% of ETH&#8217;s total transaction volume across top optimistic rollups, including <a href=\"http:\/\/ambcrypto.com\/predictions\/optimism-price-prediction\" target=\"_blank\" rel=\"noopener\">Optimism [OP]<\/a> and <a href=\"http:\/\/ambcrypto.com\/base-no-longer-a-top-10-defi-thanks-to-declining-tvl\/\" target=\"_blank\" rel=\"noopener\">Base<\/a>.<\/p>\n<figure id=\"attachment_369593\" aria-describedby=\"caption-attachment-369593\" style=\"width: 1120px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/02\/arbitrum-transactions.jpg\"><img decoding=\"async\" class=\"wp-image-369593 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/02\/arbitrum-transactions.jpg\" alt=\"ETH transaction volume on Arbitrum\" width=\"1120\" height=\"645\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/02\/arbitrum-transactions.jpg 1120w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/02\/arbitrum-transactions-300x173.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/02\/arbitrum-transactions-1024x590.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/02\/arbitrum-transactions-768x442.jpg 768w\" sizes=\"(max-width: 1120px) 100vw, 1120px\" \/><\/a><figcaption id=\"caption-attachment-369593\" class=\"wp-caption-text\">Source: IntoTheBlock<\/figcaption><\/figure>\n<p>However, it should be noted that in the broader L2 market, Arbitrum lost out its transaction dominance to zk rollup, zkSync Era.<\/p>\n<p>According to AMBCrypto&#8217;s examination of <a href=\"https:\/\/l2beat.com\/scaling\/activity\" target=\"_blank\" rel=\"noopener\">L2Beat<\/a> data, Arbitrum clocked a little over 24 million cumulative transactions in the past month. This paled in comparison to zkSync Era&#8217;s 30-day tally of 41.3 million.<\/p>\n<p>The significant disparity in transaction numbers was due to the difference between the fees on the two scaling solutions. AMBCrypto noticed through <a href=\"https:\/\/l2fees.info\/\" target=\"_blank\" rel=\"noopener\">L2 Fees<\/a> that a user had to pay $0.14 on Arbitrum to send ETH while the same task could be performed on zkSync Era at a 64% discount.<\/p>\n<p>However, Arbitrum proponents in particular, and those of L2 in general, have pinned their hopes on the upcoming <a href=\"http:\/\/ambcrypto.com\/ethereum-as-the-dencun-upgrade-gets-scheduled-whats-next-for-eth\/\" target=\"_blank\" rel=\"noopener\">Dencun upgrade<\/a>. The watershed technical transformation was expected to bring about a 10x drop in L2 transaction fees.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">L2 transaction fees are expected to drop by 10x from a current average of $0.23 thanks to the upcoming Ethereum Dancun upgrade. <a href=\"https:\/\/t.co\/9GuLgxky08\">pic.twitter.com\/9GuLgxky08<\/a><\/p>\n<p>&mdash; Sentora (@SentoraHQ) <a href=\"https:\/\/twitter.com\/SentoraHQ\/status\/1756257085308715313?ref_src=twsrc%5Etfw\">February 10, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h4><strong>Arbitrum outshines competition in DeFi<\/strong><\/h4>\n<p>While Arbitrum trailed zkSync Era in network traffic, the former was still the decentralized finance (DeFi) leader in the L2 ecosystem.<\/p>\n<p>According to AMBCrypto&#8217;s analysis of Artemis data, Arbitrum had over $2.7 billion in total value locked as of this writing. This was head and shoulders above the competition.<\/p>\n<p>Fathom this &#8211; the combined TVL of the next three scaling solutions in the list was still less than Arbitrum&#8217;s tally.<\/p>\n<figure id=\"attachment_369610\" aria-describedby=\"caption-attachment-369610\" style=\"width: 1140px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/02\/l2-defi-activity.jpg\"><img decoding=\"async\" class=\"wp-image-369610 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/02\/l2-defi-activity.jpg\" alt=\"The DeFi activity of Ethereum L2s\" width=\"1140\" height=\"409\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/02\/l2-defi-activity.jpg 1140w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/02\/l2-defi-activity-300x108.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/02\/l2-defi-activity-1024x367.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/02\/l2-defi-activity-768x276.jpg 768w\" sizes=\"(max-width: 1140px) 100vw, 1140px\" \/><\/a><figcaption id=\"caption-attachment-369610\" class=\"wp-caption-text\">Source: Artemis<\/figcaption><\/figure>\n<p>Another dominant aspect of Arbitrum&#8217;s DeFi game was the performance of its decentralized exchanges (DEXes). As seen from the graph above, Arbitrum has solidified its position as the top L2 in DEX volume.<\/p>\n<p>In fact, Arbitrum DEXes facilitated trades worth over $1.7 billion over last week. In contrast, DEXs on Base and zkSync Era couldn&#8217;t even cross $300 million.<\/p>\n<hr \/>\n<p style=\"text-align: center;\">Realistic or not,\u00a0here\u2019s\u00a0<a href=\"http:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">ARB\u2019s market cap in BTC terms<\/a><\/p>\n<hr \/>\n<h4><strong>ARB lifts 8.5% over the week<\/strong><\/h4>\n<p>As of this writing, the native token ARB was trading in the green, with weekly gains of 8.5%, according to <a href=\"https:\/\/coinmarketcap.com\/currencies\/arbitrum\/\" target=\"_blank\" rel=\"noopener\">CoinMarketCap<\/a>.<\/p>\n<p>The jump in ARB value could be just sentiment-driven. As is well-known, ARB doesn\u2019t accrue any value from Arbitrum&#8217;s on-chain activity and functions just as a governance token.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Arbitrum was still the decentralized finance (DeFi) leader in the L2 ecosystem.<\/p>\n","protected":false},"author":80,"featured_media":369590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,32,66,3,4,20],"tags":[],"class_list":["post-369578","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-ethereum-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Why Arbitrum seems to be the most desired chain for DeFi - 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