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Arbitrum Takes the Lead in Daily Transactions, Ethereum Trails Behind

Arbitrum Takes the Lead in Daily Transactions, Ethereum Trails Behind

The usage of Arbitrum (ARB) has surged as the layer-2 scaling solution distributed 12.75% of its token supply through an airdrop.

The Arbitrum Foundation aims to make the ecosystem more decentralized than other Ethereum (ETH) scaling chains by giving eligible users the tokens.

To claim ARB safely and vote for an ecosystem delegate, users are advised to use the http://arbitrum.foundation website.

After the airdrop on Thursday, March 23rd, the number of daily transactions on Arbitrum dramatically increased to 2,733,872, as reported by the blockchain explorer Arbiscan. In comparison, on Wednesday, the transactions were at just 1,218,525.

Ethereum’s leading smart contract recorded only 1,073,049 and 1,077,305 daily transactions on March 22nd and 23rd, respectively.

READ MORE: Coinbase and SEC Lock Horns Over Alleged Securities Law Breaches

Coinbase recently added ARB to its roadmap listing in anticipation of the airdrop, and Binance has also listed the token.

However, ARB is experiencing significant losses, with Arbitrum’s value now at $1.34, representing a 73.44% decrease over the past 24 hours.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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