Arbitrum surpasses $150 billion in total transaction volume on Uniswap
Quick Take
- Arbitrum is the first Layer 2 to pass the $150 billion total transaction volume threshold on the DEX.
Ethereum Layer 2 protocol Arbitrum surpassed $150 billion in transaction volume on the decentralized exchange Uniswap.
Arbitrum is the first Layer 2 to pass the threshold on the DEX, Uniswap Labs wrote in a social media post on Monday. As of early May, Arbitrum's cumulative swap volume hit $150.2 billion.
Blockchain data tracker DeFiLlama shows Arbitrum's total value locked (TVL) as $2.64 billion, making it the largest Layer 2 by TVL and the fifth largest protocol by TVL behind the Layer 1s Solana, BSC, Tron and Ethereum.
The protocol's native token, ARB, changed hands at $1.07 at 12:45 p.m. ET (16:45 UTC) on May 6 after seeing a 2% decrease of $0.022 in the past 24 hours, according to The Block price page for ARB.
Arbitrum's core contributor, Offchain Labs, released the Layer 2's most recent upgrade, called Atlas, in March of this year. The upgrade added block transaction support to help lower Ethereum Layer 2 transaction costs, The Block previously reported.
Uniswap is the largest decentralized exchange by TVL, maintaining $5.54 billion as of May 6, DeFiLlama data shows.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
