HomeBitcoinDaily DEX Turnover Surges, Outpacing Ethereum By $400 Million

Daily DEX Turnover Surges, Outpacing Ethereum By $400 Million


Arbitrum, a prominent Layer-2 (L2) scaling solution, has been on a remarkable upward trajectory since the launch of its native token, ARB, in March 2023. The past 30 days witnessed a staggering 74% surge in ARB’s value, underscoring the growing market interest in the protocol.

Notably, Arbitrum’s daily decentralized exchange (DEX) volume has experienced a significant surge, propelling the protocol to surpass Ethereum (ETH) for the first time in this key metric. 

This milestone highlights Arbitrum’s increasing adoption and recognition for its scalability within the decentralized finance (DeFi) ecosystem.

Arbitrum Sets New DEX Records

According to data from DefiLlama, Arbitrum’s daily DEX volume reached an impressive $1.834 billion over the past 24 hours, surpassing Ethereum’s volume of $1.444 billion. Analyzing DefiLlama’s data, it becomes evident that Arbitrum’s growth extends beyond daily DEX volume alone. 

The weekly change in ARB’s value soared by 32.58%, showcasing the token’s strong performance in the market. Moreover, Arbitrum’s seven-day volume reached an impressive $6.804 billion, indicating robust trading activity on the protocol.

ARB’s daily DEX volume surpasses ETH. Source: DefiLlama

In terms of total value locked (TVL) in DEX, Arbitrum accounted for $1.297 billion, constituting 33.40% of the total TVL. In comparison, Ethereum’s TVL stood at $5.92 billion, making up 26.29% of the total. This demonstrates Arbitrum’s growing prominence as users increasingly recognize its potential for efficient and secure decentralized trading.

ARB’s Financial Metrics Soar

Further demonstrating the growth of the protocol’s ecosystem, token terminal data shows that Arbitrum’s market capitalization (in circulation) has increased by an impressive 83.84% to $2.56 billion. 

The revenue generated by Arbitrum over the past 30 days has also experienced remarkable growth, with a 79.82% increase to reach $11.66 million. 

Furthermore, looking at the fully diluted market capitalization, Arbitrum has witnessed an identical 83.84% rise to reach $20.07 billion. 

Arbitrum’s revenue on an annualized basis has seen a significant boost, surging by 101.67% to reach $141.81 million. This figure represents the projected revenue for a full year based on the current monthly revenue, underscoring the protocol’s sustained growth.

In terms of fees generated, Arbitrum’s 30-day figures have surged by 79.82% to reach $11.66 million, demonstrating the protocol’s ability to capture a significant share of transactional fees within its ecosystem. 

On an annualized basis, fees have soared by 101.67% to reach $141.81 million, further validating the protocol’s revenue growth and economic potential.

The daily chart shows ARB’s price drop in the past 24 hours. Source: ARBUSDT on TradingView.com

Nevertheless, the protocol’s native token, ARB, is trading at $1.8962, down over 8% in the past 24 hours and below its all-time high (ATH) of $2.11 set on Thursday. Despite this pullback, it is still up 36% over the past 14 days, demonstrating the token’s bullish momentum.

Featured image from Shutterstock, chart from TradingView.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.


Please enter your comment!
Please enter your name here


Positive Analystic View Regarding XRP Surge Despite Cancellation of SEC Meeting

Nobody in the XRP community expected the SEC to cancel a meeting behind closed doors on July 18 without giving any reason. Some people...

Forecasting the Price Surge of Banana Gun: BANANA Skyrockets by 28% Following Binance Trading Announcement, Elevating Meme Games ICO with $160K Raised

Join Our Telegram channel to stay up to date on breaking news coverage The Banana Gun price soared 28% in the last 24 hours to...

XRP Price Experiences a Decline, Nevertheless Uptrend Support Remains Resilient

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency...

Latest Cryptocurrency Rollouts, Additions, & Initial Sales Today – Vitreus, Laika AI, Ruby Protocol

Join Our Telegram channel to stay up to date on breaking news coverage Several positive news stories are triggering renewed investor confidence amid the cryptocurrency...

Most Popular