Arbitrum has emerged as a dominant player in the Layer 2 (L2) Ethereum scaling solutions, significantly outpacing Ethereum in several metrics. Arbitrum's average transaction fee is 500 times cheaper than Ethereum's Layer 1 (L1) fees. The platform has also overtaken Ethereum in monthly active users and achieved a milestone of 1 billion transactions in May 2024. Additionally, Arbitrum's monthly volume nearly doubled from $6.87 billion in May 2023 to $11.66 billion in May 2024. Despite these achievements, Arbitrum's onchain profit in May was $802,000, ranking fourth among L2s, behind Base, Optimism, and Scroll. Meanwhile, Base, another Ethereum L2 network, has seen substantial activity, with over 500,000 new tokens issued since March and reaching an all-time high in Total Value Locked (TVL). Stylus is weeks away from launch, which is expected to further enhance Arbitrum's capabilities.
When it comes to the number of #Stablecoins on an #Ethereum L2 network, Base is also on track to overtake Arbitrum and become the new number 1 in the ETH L2 sector! Onchain Summer incoming! https://t.co/5y0xTzPwE5
We're excited to have @bprotocoleth joining Morpho on @base! B.Protocol co-curates several MetaMorpho vaults on Ethereum and will continue collaborating with @BlockAnalitica to offer transparent, risk-adjusted vaults on Base. https://t.co/DdIFaQAXbO
Base is officially the most used #ETH L2 in the entire #Ethereum ecosystem! The Coinbase L2 has overtaken Arbitrum in the number of daily transactions! 1. #Base: 2.53M 2. #Arbitrum: 1.87M 3. #Linea: 1.1M 4. #Blast: 707.88K 5. #zkSync Era: 637.22K https://t.co/DLt8zSkbNk
More tokens have been launched in the last few months than in the entire history of ETH according to @CroissantEth. Most of them on Base. Legendary shares his analysis https://t.co/fJZNPLTspw
🔥 @Base TVL just reached an all time high and is now the number 2 ETH rollup‼️ https://t.co/U7vgZdrLTv
🚀 Exciting news! @elliptic has enabled support for @base, an Ethereum Layer 2 protocol incubated by @coinbase. We're committed to bringing robust onchain compliance solutions. Read more here: https://t.co/ypnoy8SaOd #Elliptic #BlockchainAnalytics #base https://t.co/V5qaIfZVJX
455,000 tokens exploded onto the $SOL blockchain in May, leading the memecoin surge. $ETH Layer 2 Base fell behind at 177,000 tokens, with BNB Chain at just 39,000. Ethereum mainnet, Arbitrum, and Optimism birthed under 20,000 tokens combined. https://t.co/CskMasyCwP
🔵Top Layer 2 By Total Value Locked And Market Share 🥇@arbitrum 🥈@Optimism 🥉@base @Blast_L2 @0xMantle @LineaBuild @Starknet @MantaNetwork @zksync @modenetwork https://t.co/VcIu0WeU4L
Are you on @base? Activity on Coinbase’s Ethereum Layer 2 network is at all time highs as traders speculate on Coinbase’s upcoming smart wallet. Read more here: https://t.co/v69d2LgRKV https://t.co/qPmdjWooht
$BASE killing it. 🔴 Base - $6.98M 🔴 Optimism - $1.57M 🔴 Scroll - $1.35M 🔴 Arbitrum - $802k 🔴 Linea - $612k https://t.co/7KpBxRm13h
In May, Arbitrum hit 1 billion transactions ⬆️ and had the lowest gas fees in L2s ⛽️ The tech stack just works https://t.co/Af6K2Nauwd
SCALING: @arbitrum usage is up, while the average transaction fees are down. https://t.co/iwgK4QlNm7
Here's how much onchain profit L2s earned in May Onchain profit = Revenue from L2 gas fees - Costs of posting batches and verifying proofs on L1 1. Base - $6.98M 2. Optimism - $1.57M 3. Scroll - $1.35M 4. Arbitrum - $802k 5. Linea - $612k https://t.co/BuvV0yCm3a
Monthly Arbitrum volume has almost doubled compared to last year 🔷 May 2023: $6.87B May 2024: $11.66B L2 season still going strong 👀 https://t.co/N38BQXKt9w
Since March, more than 500k new tokens have been issued on the @base network, including 240k new tokens in April and 177k new tokens in May. https://t.co/vfQ5PMTtsp https://t.co/CMVhbHpha2 https://t.co/7N0wNTGZte
Arbitrum is the dominator of L2's taking 35% of all USD flows from Ethereum Words from the legend himself ''@arbitrum launched w working fraud proofs day 1 on August 31, 2021. Stylus is only weeks away. Multi VM will widen this gap from other L2’s. @SizeChad'' 1⃣ #Arbitrum:… https://t.co/5xXiedSg4z
.@arbitrum overtakes @ethereum in monthly active users. https://t.co/98s4NkYbMp https://t.co/VtVHMt2CMg
Average transaction fee for Ethereum L1 & Arbitrum L2: @arbitrum is 500x cheaper! https://t.co/pthgB5KIdv