Arbitrum Network’s Activity Approaches Ethereum’s

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The daily volume of transactions in second-tier network Arbitrum has approached the milestone of 1 million.

The indicator has undergone a rapid growth in February. In the last week alone, it increased by more than 60%.

For comparison, the daily number of transactions in the Ethereum network has been at the 1 million mark for quite a long time. Optimism, Arbitrum’s closest competitor, is much lower.

The activity on the second most popular L2 protocol has dropped significantly since the end of the Optimism Quest rewards program for NFT holders.

Over the past week, the total value locked of the Arbitrum protocol has grown by 16.8%, exceeding $3.3 billion.