Arbitrum, a popular layer-2 solution, made headlines as its unique addresses increased while its total value locked (TVL) fell. Despite ARB’s price surging by over 4% in the last 24 hours, it still lags behind Ethereum in terms of TVL per unique address. According to CryptoRank.io, Ethereum topped the list, with Arbitrum closely behind. Other blockchains like Avalanche, Tron, and Aptos also made it to the top five. However, ARB’s TVL per unique address dropped sharply over the last 30 days, indicating a need for improved performance to surpass Ethereum. Although ARB’s unique addresses climbed to over 20 million, its TVL and captured value experienced declines. Despite these challenges, ARB’s network activity remained strong, with daily active addresses and transactions on the rise. Currently, ARB is trading at $1.47 with a market capitalization exceeding $3.9 billion, showing promise for the future.
Vocabulary List:
- Arbitrum (noun): A popular layer-2 solution in blockchain technology.
- Unique addresses (noun): Distinct numerical identifiers assigned to entities in a system.
- Total value locked (TVL) (noun phrase): The total value of assets deposited in a DeFi protocol.
- Surging (verb): To increase suddenly and powerfully.
- Declines (noun): Reductions or decreases in value or amount.
- Market capitalization (noun): The total value of a company outstanding shares of stock.
