Why Arbitrum’s TVL’s growth may have set up an ‘OpenSea’ of opportunities
Arbitram The last month has witnessed significant growth. Blockchain has an increasing number of users and an increasing number of collaborations. But what led Is the L2 chain witnessing a flow of these positive developments?
Let’s be real
Arbitram has witnessed a consistent increase in its Total Value Locked (TVL) since July. From a TVL of $601.72 million, Arbitram managed to advance to 935.29 million at press time.
Additionally, Arbitram has shown growth across the board. The number of unique addresses appearing on Arbitram has increased significantly compared to last year. Since January, the blockchain has acquired 957,324 new unique addresses. The total number of unique addresses stands at 129 million at the time of writing and the number is projected to grow further.
However, daily transactions on the Arbitram network have seen some volatility over the past few months. As depicted in the image below, the number of transactions on the Arbitram network is growing rapidly. This is the situation since the beginning of the year. However, the number of transactions decreased in August.
Transaction numbers also seem to have recovered from August and growth was relatively positive at press time. Although Arbitram has performed well in terms of TVL and acquired new users, some areas have shown uncertainty.
Arbitram’s daily depositors and withdrawals have declined sharply since peaking in 2021. Moreover, the number of active depositors and withdrawals remained relatively flat throughout the year. However, the number of deposits increased in September. So, this can be seen as a positive sign for the chain.
Another indicator of Arbitum’s growth could be the growing number of collaborations and partnerships.
Plenty of fish in ‘opensea’
September 20, open sea, the leading Web 3 Marketplace, declared or rather supported the arbitrage. A huge range of NFTs, viz dopex, smallverseAnd Zimex Blueberry Club will be available to OpenSea users. With this development, Arbitram will be exposed to a large user base that OpenSea has captured. Hence, helping Arbitram grow.
Apart from the NFT space, Arbitram has been able to make strides in the DeFi segment as well. risk financing, A DeFi platform, Arbitrum will also launch, strengthening its position in the DeFi market