December 8, 2022

Arbitrum It has seen significant growth over the past month. The blockchain also has an increasing number of users and an increasing number of collaborations. But what led to The L2 series is experiencing the influx of these positive developments?

Let’s talk about the facts

Arbitrum has seen steady growth in its Total Closed Value (TVL) since July. From TVL worth $601.72 million, Arbitrum has managed to advance all the way up to $935.29 million at press time.

Source: DeFiLlama

Furthermore, Arbitrum showed growth across the board. The number of unique titles found in Arbitrum has grown exponentially over the past year. Since January, the blockchain has acquired 957,324 new unique addresses. The total number of unique addresses has reached 129 million at the time of writing and the number is expected to grow even more.

However, daily transactions on the Arbitrum network have seen some fluctuations over the course of a few months. As shown in the image below, the number of transactions on the Arbitrum network is growing rapidly. This has been the case since the beginning of the year. However, there was a decrease in the number of transactions in August.

Source: Arbiscan

The number of deals also appears to have recovered since August and the growth is relatively positive at the time of writing. Although Arbitrum performed well in terms of TVL and gained new users, some areas showed uncertainty.

The number of Arbitrum depositors and withdrawals has seen a sharp decline since its peak during 2021. Moreover, the number of active depositors and withdrawals was relatively constant throughout the year. However, there was a rise in the number of deposits that occurred in September. Thus, this can be considered a positive sign for the series.

Source: Dune Analytics

Another indicator of Arbitum’s growth can be the increasing number of collaborations and partnerships.

Lots of fish in the open sea

on september 20, open sea, Leadership web 3 Market, advertised or rather supported Arbitrum. Large selection of NFTs, such as duplexesAnd the smallverseAnd the Club GMC berries It will be available to OpenSea users. With this development, Arbitrum will be exposed to a large user base that OpenSea has. Ergo, which helps in the growth of Arbitrum.

Aside from the NFT space, Arbitrum has also been able to make great strides in the DeFi division. risk financing, The DeFi platform, also to be called Arbitrum, solidifies its position in the DeFi market.

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