Arbitrum’s DEX Transactions Skyrocket to Record-Breaking Highs
According to data from DeFillama, the decentralized exchange (DEX) transactions volume on Arbitrum has recently hit new highs.
Over the last two weeks, the DEX transactions increased by 32.41% to $4.34 billion, with a surge of up to $3.28 billion in the week starting March 5th.
As of March 20th, the daily transaction volume on Arbitrum reached $535 million, which is the second highest after Ethereum (ETH) and almost double that of Binance Smart Chain (BSC). The top five DEXs on Arbitrum are Uniswap, SushiSwap, ZyberSwap, Camelot, and Balancer.
In the last seven days, these platforms witnessed an average trading volume growth of over 40%, with Camelot recording the highest increase by 95% to $38.45 million and ZyberSwap experiencing minor growth of 2.84% to $61.41 million
Uniswap remains the dominant DEX platform on Arbitrum, accounting for 48% of all trades on the L2 network.
The total value of assets locked on Arbitrum has risen by more than 20% to $3.85 billion over the last seven days, as per L2beats. Additionally, 2.15 million ETH tokens have been locked on the network.
GMX is Arbitrum’s dominant DeFi protocol, which controls 28.27% of Arbitrum’s total TVL.
READ MORE: Crypto Exchange FTX Founder Attempted to Federally Regulate Exchange
Despite recent issues with the dominant stablecoin on the network, USD Coin (USDC), the L2 solution, has continued to witness an increase in its stablecoin inflow. During the period, there was more inflow of Tether’s USDT and algorithmic stablecoin DAI into the network as against USDC. Arbitrum’s USD inflow climbed 9% to $1.59 billion.
During the period of rising TVL, Arbitrum’s daily transaction per second rose by 80.82% to 10.82.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
