Arbitrum (ARB) currently has a price of $1.17 and is up 1.29% over the last 24 hours. The cryptocurrency is ranked 49 with a market cap of $1.5B. Over the last 24 hours, it saw $442.9M of trading volume. The token has a circulating supply of 1.3B tokens out of a total supply of 10B tokens.
Arbitrum, developed by Offchain Labs, is an Ethereum Layer 2 blockchain rollup technology. Its main advantage is enabling high-performance, cost-effective Ethereum transactions while simplifying the development process for Ethereum developers by abstracting the complexities of Layer 2 technology. By employing rollup technology, Arbitrum consolidates multiple transactions into a single one, leading to reduced fees and faster transaction speeds for users.
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