- Arbitrum’s native token ARB has surged over 10% recently and seen significant growth in the past week and month amid the crypto market recovery.
- Arbitrum’s total value locked has exceeded $2.5 billion as decentralized app volumes surpass $900 million, with significant inflows in recent days.
- Data shows rapid growth for Arbitrum’s dApps since October, adding $1 billion to total value locked, as the platform sees more developer activity and outpaces competitors.
The Ethereum scaling solution Arbitrum has seen impressive growth in recent days. The layer 2 network’s native token and total value locked have surged, while transaction volumes on decentralized apps have also increased significantly.
Arbitrum’s Native Token Spikes Over 10%
The native token of Arbitrum, ARB, has jumped over 10% recently to trade close to the $2 mark. In the past 7 days, the token has seen a 26% increase, while it has skyrocketed 7,391% in the last 30 days amid the wider crypto market recovery.
Total Value Locked Tops $2.5 Billion
Along with the token’s price rise, Arbitrum’s total value locked (TVL) has now surpassed $2.5 billion as volumes on decentralized apps (dApps) moved past $900 million. The platform saw 24-hour inflows of $5.216 million, with GMX leading in terms of TVL.
New Data Shows Rapid Growth Since October
According to DeFiLlama, Arbitrum’s dApps have added $1 billion to TVL since October. The influx of funds in recent days has come as the wider crypto industry climbs uphill. Institutional investor appetite has risen ahead of a potential Bitcoin spot ETF approval.
Arbitrum Outpaces Competitors
The growth of Arbitrum’s token and platform is linked to its developer incentives and community participation. With around 470 dApps now on the network, increased on-chain activity could spur further growth as Arbitrum cements its lead over competitors.
