Why Arbitrum?

Arbitrum seeks to solve the problem of scalability that has plague the Ethereum blockchain in recent years. Arbitrum, like Optimism and Polygon, is a L2 blockchain solution for Ethereum created to expand Ethereum’s capability through much lower gas fees which increasing throughput. Arbitrum uses Optimistic rollups by aggregating and executing transactions off-chain, then ‘recording’ them on-chain. With this, they will able to achieve a high throughput of up to 4,500 TPS.

Arbitrum Transaction volume

• Transaction volume spiked between 23rd and 29th June with a peak of more than 200k transactions on a single day.

• Spike in transaction volume possibly due to Arbitrum Odyssey program which rewards users NFT for performing basic actions across the Arbitrum ecosystem. Odyssey went live on June 28th and paused on June 29th due to spike in gas fees.

• On average, Arbitrum processed about 70-90k transaction per day.

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Hourly Gas Price (Arbitrum vs Ethereum)

• Gas price has consistently been much lower on Arbitrum than on Ethereum except for one occasion.
• Between 28-29 June, Arbitrum hourly gas price spiked to more than 86 gwei even exceeding Ethereum gas price.

Swap volume by DEX

• Swap volume is trending up across Uniswap and Sushiswap.
• Swap volume on Uniswap is higher than Sushiswap except for a brief period around 20th July.
• On average, Uniswap capture around 60% while Sushiswap capture the other 40% of all swaps volume.

Top 10 tokens by transfer volume

• Majority of token transfers (>65% of total transfers) are tokens from Hop Protocol.
• Unsurprisingly, ETH and USDC tokens remains the 2 top tokens with highest transfer volume.
• Aside from Hop Protocol, Treasure DAO and GMX has around 2% and 3% of total transfer volume respectively.

Active accounts

• Similar to transaction volume, number of active addresses spiked between 23rd and 29 June with a peak of ~57k unique addresses on a single day.
• On average, there are around 20k active unique addresses transacting on Arbitrum per day.

Dashboard Content

In this dashboard, we will look at few of Arbitrum’s performance metrics including

• transaction volume
• active accounts
• hourly gas price between Arbitrum and Ethereum
• swap volume by DEX
• top 10 tokens by transfer volume

Arbitrum vs Optimism Transaction volume

Since Arbitrum and Optimism are both fairly new blockchain and both use Optimistic rollups design, it might be interesting to look at how they fair against each other in terms of transaction volume.

• Arbitrum transaction volume has been picking pace beginning August, overtaking Optimism slightly (~57%) towards end of August.
• This might be due to the launch of the second chain Arbitrum Nova on 9th Aug.