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
Arbitrum, a leading Layer 2 scaling solution for Ethereum, has announced the integration of Norway’s digital currency, NOK. The integration will allow users to transact in NOK on Arbitrum, and it is the first time that a national currency has been integrated with a Layer 2 scaling solution. The integration was made possible by Symfoni Solutions, a company that specializes in building bridges between government services and decentralized finance (DeFi) applications. Symfoni developed a bridge that connects the Norwegian central bank’s digital currency platform with Arbitrum. The integration of NOK on Arbitrum is a significant development for the DeFi ecosystem.
Arbitrum, a layer-2 scaling solution for Ethereum, has reached over 5 million accounts, including both individual addresses and active accounts, as of April 17, according to data from Dune Analytics. The March 23 airdrop, in which 1.275 billion ARB tokens were distributed to eligible addresses, has contributed to the surge in growth. The ecosystem now boasts over 4 million active accounts, with approximately 200 million transactions completed since its inception. However, despite the rapid growth in account numbers, weekly user activity has decreased since the high of 1.38 million users on March 20, with the number now hovering around 333,000