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Arbitrum Airdrop Boosts Network Adoption Despite Bearish Crypto Market: Nansen Report

Arbitrum Airdrop Spurs Adoption Amidst Unfavorable Crypto Market Climate

A recent report by blockchain analytics firm Nansen highlights the positive impact of the Arbitrum airdrop on network adoption, despite prevailing bearish sentiment in the crypto markets.

The airdrop not only led to a surge in users and transactions on the Arbitrum network but also contributed to sustained high usage even after the airdrop concluded. This sets Arbitrum apart from other layer-2 networks like Optimism, which experienced stagnant or declining usage during the same period.

The Nansen report reveals that the Arbitrum network surpassed Ethereum, its base layer, in terms of usage on certain days.

This surge in activity demonstrates the appeal of Arbitrum as a layer-2 solution for users seeking to save on transaction fees, particularly within the decentralized finance (DeFi) ecosystem. Despite the initial spike in usage during the airdrop, network activity has remained consistently high.

The airdrop also had a notable effect on transaction fees on the Arbitrum network, which are denominated in Ether (ETH). Gas spending has been on an upward trend throughout the year, and the airdrop further accelerated this trend.

While it remains uncertain if this trend will persist in the long term, the report indicates that transaction fees have maintained higher values compared to pre-airdrop levels.

According to the Nansen report, transaction values on the Arbitrum network experienced a sharp increase immediately following the airdrop, followed by a subsequent decline. However, on average, transactions have maintained a higher USD value than before the airdrop.


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