- Arbitrum's Unique Addresses graph increased, but TVL decreased.
- ARB price has risen over 4% in the past 24 hours.
Arbitrum [ARB]one of the most popular Layer 2s, recently reached a milestone that could pose a serious challenge for: Ethereum [ETH].
Arbitrum will only exist after Ethereum
CryptoRank.io, a cryptocurrency research and analysis platform, recently Tweet Highlights the top blockchains in terms of TVL per unique address.
This is calculated by dividing the TVL by the number of unique addresses.
According to the tweet, Ethereum ranked first on the list, followed by Arbitrum. avalanche [AVAX], tron [TRX]and Aptos [APT] It also ranked in the top 5 on the same list.
Interestingly, ETH was at $213, while ARB was slightly lower at $195.
Since the difference between the two was not that large, AMBCrypto planned to take a look at Arbitrum’s current performance to see if we can expect ARB to outperform ETH in the coming days.
Analysis of Arbiscan.io data revealed that the number of ARB unique addresses continues to grow rapidly, exceeding 20 million.
At the time of writing, Arbitrum has a total of 20.25 million unique addresses, reflecting the network's steady growth.
Source: Arbiscan.io
Arbitrum needs to step up efforts
At first glance, this seemed optimistic, but upon closer inspection, AMBCrypto found that ARB may not be able to outperform Ethereum just yet.
This is because the TVL per unique address also takes into account the increasing TVL of the blockchain.
How to see Artemis data reveals that while ARB’s unique addresses have increased, its TVL has fallen sharply over the past 30 days, suggesting that ARB’s performance needs to improve significantly to beat Ethereum overall. I am.
Source: Artemis
Arbitrum's acquisition value also recorded a decline last month. This is evident from the decline in both fees and revenue over the past 30 days.
Nevertheless, ARB's network activity remained high. Daily active addresses and transactions on the blockchain are increasing, suggesting high usage.
Source: Artemis
read Arbitrum's [ARB] price prediction 2024-25
Meanwhile, ARB bulls also stepped up their game as the token's price recorded an increase.according to coin market capARB is up over 4% in the past 24 hours alone.
At the time of this writing, ARB was trading at $1.47 and had a market cap of over $3.9 billion.
