Ethereum-based layer-2 solution Arbitrum has grown in the last quarter, according to research. This growth gained momentum especially after the ARB airdrop event in March.
According to the Nansen report, the layer-2 blockchain has strong activity based on a constantly increasing number of transactions and a stream of new participants. After the airdrop in March, the ARB network saw more activity. The researchers found that the number of new wallets transacting on the network for the first time is increasing. According to Nansen analysts, the increase in new users indicates an organic growth. In some metrics, the ARB network’s growth rate even surpasses ETH. However, the Optimism network, which airdropped on May 31, 2022, did not experience the same increase.
ARB and OP: Two Competitors L2 Project
However, the Optimism network, which airdropped on May 31, 2022, did not experience the same increase. Arbitrum and Optimism are popular layer-2 scaling solutions for Ethereum. Arbitrum has also introduced a new solution called Arbitrum Orbit. Orbit allows users to create their own Arbitrum-based builds. This solution has its own privacy, permissions, fee token and governance features, similar to Optimism’s OP Stack.
Such altcoin projects aim to support and grow the Ethereum ecosystem by aiming to offer faster, low-cost and secure transactions. The main difference between Arbitrum and Optimism is as follows: Optimism is more focused on the layer-2 market, while Arbitrum’s target is more on applications.
ARB Price
ARB, the altcoin unit of the ETH layer-2 solution, suffered from the drop last night.
The altcoin, which has lost 12% since the beginning of the week, is currently finding buyers at $1. If Arbitrum breaks 1.05 and 1.22 resistances, it is likely to start a new rally.
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