As an experienced analyst, I’ve closely monitored the Ethereum L2 (Layer 2) ecosystem and have observed a significant trend in Arbitrum’s fee dynamics. The data presented in this article is noteworthy as it showcases a correlation between the surge in daily on-chain transactions and the subsequent increase in average fees on Arbitrum.
The substantial rise in daily on-chain transactions on the largest layer-2 blockchain, Arbitrum, led to a significant hike in average fees.
Arbitrum is currently the largest L2 network with a TVL of $2.97 billion.
Based on information from Dune, the cost for transactions on Arbitrum increased by approximately 97.8% this morning, peaking at $0.015. However, there has been a significant decrease in transaction fees lately, now sitting at around $0.007.
As a researcher studying blockchain networks, I’ve observed an intriguing trend with Arbitrum’s average transaction fees. Data reveals that these fees have been climbing steadily since the daily on-chain transaction volume on this L2 (Layer 2) network surged from approximately 1.7 million to around 2.3 million transactions per day on June 11.
As a researcher studying the cost dynamics of various L2 (Layer 2) blockchain platforms, I’ve recently discovered some intriguing data. Specifically, Zora Network presently boasts the most affordable average daily transaction fee at approximately $0.0029, based on the latest information from Dune Analytics. Conversely, Scroll network emerges as the priciest among the leading L2 platforms with an average fee of around $0.108.
At present, the value of Arbitrum’s native token, ARB, has decreased by 0.33% within the last 24 hours and is currently priced at $0.94. The market capitalization of this asset hovers around $2.7 billion, positioning it as the cryptocurrency with a rank of 38.
As a researcher studying the latest developments in the blockchain and cryptocurrency space, I came across an exciting announcement made by Arbitrum on June 9. They unveiled a new initiative called the Gaming Catalyst Program, through which they plan to distribute a substantial amount of ARB tokens – totalling 225 million with an approximate value of $215 million – among game developers operating within the web3 scene.
As a crypto investor, I’m excited about the recent integration of Avail’s data availability layer into Arbitrum, Optimism, Polygon, StarkWare, and zkSync on April 25. This means that as developers build cost-effective, scalable, and composable blockchain networks on these platforms, they will now have access to the benefits of Avail’s technology. I believe this collaboration will lead to more efficient and innovative solutions in the crypto space.
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2024-06-12 12:36