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Ethereum L2s have experienced a resurgence after overcoming past bottoms. Arbitrum is heading this charge after the launch of the Nitro upgrade in September despite a hacking scare.
Fixing the last piece here
Arbitrum managed to possess the largest market share of TVL among L2s. According to l2beat.com, Arbitrum held over $2.50 billion in TVL with a 52.58% market share among other major L2s. The closest competitor stands to be Optimism with $1.55 billion locked in at a 29.05% market share.
Source: L2Beat
Well, Arbitrum has witnessed consistent growth in its total value locked (TVL) since July. From a TVL at $601.72 million, Arbitrum has managed to progress to 935.29 million at press time.
Also, Arbitrum's daily transaction chart too reiterated a bullish picture. According to the latest data, transaction count reached just under the 270k mark on Arbitrum.
Source: Arbitrum Space
What happens to be more surprising is that Arbitrum does not even have a native token, unlike other competitors. But this might just change now as Arbitrum's $ARB token is expected to launch soon.
https://twitter.com/its_airdrop/status/1574020422085283840?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1574020422085283840%7Ctwgr%5Ec7b513ca786e0c327fb2879a1211ae08275f1dd2%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ftwitter.trello.services%2Ftweets.html7B22secret223A22ss9RepcEo2BGPU3w1umYPsprR8RkhhFq2sSXxJLPuByYeOZucgOEn0QHNKdchMoI222C22context223A7B22version223A22build-178944222C22member223A2260597eaeb2d1b213ebb1b807222C22permissions223A7B22board223A22write222C22organization223A22read222C22card223A22write227D2C22organization223A2260fe1fbdb5fb7109a31d039b222C22board223A2261156304430c673037245e98222C22card223A226330f5754580701f9acc49cf222C22command223A22attachment-sections222C22plugin223A2255a5d917446f51777421000b227D2C22locale223A22en-US227D
In fact, Arbitrum had the strongest user and transaction momentum among the leading blockchains, Bernstein (a wealth management firm) said in a research report, and with that it stated, "the early user airdrop is imminent…"
Could the drop of a token help the platform? Well, it could, given the past especially, when Arbitrum’s Nitro launch was a success. Daily transactions surged to new all-time highs (breaking their September 2021 and July 2022 records and clocking in 318,777 transactions).
Meanwhile, on 20 September, OpenSea, a leading Web3 marketplace lent support to Arbitrum. A huge range of NFTs, such as dopex, smolverse, and Gmex blueberry club would be available for OpenSea users.
With this development, Arbitrum would get exposed to a large user base that OpenSea possessed. Ergo, helping with Arbitrum’s growth.
At present, Arbitrum does not have a native token. However, market participants may pursue two avenues to gain exposure to the network’s growth, GMX and Dopex.
The post Arbitrum: Here's what could be the key to Ethereum L2's organic growth appeared first on AMBCrypto.
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