Q1 : What`s the Trend on Arbitrum?

Where do these new address go for their first txns?

i) DeFi

ii) Layer 2

iii) Dapp

v) CEX

vi) NFT

iv) DEX

The transaction Volume has been increasing since Jan '23. The Average txn fee also increaes simultaneously , with significant hike beginning mid Feb '23. This suggest, more activity are done on Arbitrum network.

The average Transaction made per address has also increases since early Jan but has stagnated 10 txn/address and 13 txn per/address.

Towards the on of Jan '23, there are an ncreasing trend of number of new address joining Arbitrum on Daily Basis. The trend continue towards the end of Feb '23 peaked on Feb 21st at 121 K address on that day.

The trend also traces the increase in average transaction fee over time. The increase in number of new address my suggests new users making transaction on Arbitrum to be elligible for $ARBI airdrop, or existing user, making new wallets to get exploit additional airdrop allocation

User Growth of Arbitrum has been significantly growing since early Feb '23. This year alone, Arbitrum has managed to attract 491 K new address. the highest reported on 22nd Feb '23, at 32 K new address in a single day

Introduction

In recent times, there have been widespread rumors circulating about a possible Arbitrum token airdrop. While these rumors first emerged in December of the previous year, they have regained traction due to several factors, including the unlock of the $BLUR token, a vampire attack on Opensea, the launch of Coinbase Layer 2, and other rumors. Unlike its direct competitor, Optimism, which has had a token since its inception, Arbitrum has not had any tokens. This has led the community to speculate that an airdrop may be imminent. However, as there has been no confirmation from Arbitrum, this is purely speculative at this point. This dashboard aims to study the impact of the airdrop rumor on the Arbitrum network.

Methodology

This dashboard will study two components: traffic and new address participation.

The traffic component will focus on network fees, user activity, user growth, and transaction frequency. This will enable us to determine whether the rumors have resulted in an increase in activity and/or users on Arbitrum.

The second factor to be studied is the participation of new users. This section will focus on where new addresses go for their first transaction and study which platform attracts the most new users on Arbitrum. By doing so, we can better understand the impact of the airdrop rumor on new user acquisition.

Overall, this dashboard will provide valuable insights into the potential impact of an Arbitrum token airdrop on the network, and help the community better understand the dynamics of this exciting new technology.

Q1 Findings

1. It seems that towards late of January '23, the daily txn volume has increase, causing increase in avg txn fee .

2. There are no significant increase in average txn per address, suggesting most address are still exhibiting similar txn frequency as before the airdrop rumor .

3. However, the number of unique address making transaction on Arbitrum has increased significantly in end of Jan '23

4. More new address are joining Arbitrum towards the end of Jan '23, the highest reported on 22nd Feb '23, at 32 K new address in a single day

Q2 Findings

1. Most new users first txn lands on Layer 2 contracts, DEXs, and DeFi respectively

2. GMX is is the Top DeFi that brings new user onto Arbitrum. During mid Feb '23, all the Top 5 DeFi shows increase in number of new user. Radiant pulled a whopping 3.6 K unique new address on its platform in early Feb.

3. Hop Protocol controls more than 90% of User Growth share since Jan '23

4. The top 5 Dapps on Arbitrum shares somewhat equals Usser Growth share amongs each other. Towards the end of February, all these Dapps shows increasing trend of new users except expertly.

5. Uniswap and Sushiswap are the Top Dexs that is visited by new address. The growth of these 2 DEXs predates the $ARBI airdrop narrative, suggesting these projects are bringing in organic user growth

6. An anomaly of ~26K address intracted with Binance CEX wallet on a single day. May be related to Binance's BUSD banning by the SEC recently.

7. Treasure DAO pulls majority of new address in the NFT arena

Conslusion

Despite the unconfirmed rumor of $ARBI airdrop, there has been significant icrease inArbitrum traffic and Uer Growth. On top of that, Sushiswap and Uniswap still brings in new address on Arbitrum . Overall, the rumor has been bullish for Arbitrum as a whole