Arbitrum TVL Surges Past $2 Billion as Network Grows

Table of Contents

• Prolific Start to 2024
• TVL Exceeds $2 Billion
• Dramatic Increase Since October

The Ethereum layer 2 network Arbitrum is seeing rising usage, with its total value locked (TVL) surpassing $2 billion this week. The increase in activity comes as decentralized finance (DeFi) on the network has grown rapidly.

Prolific Start to 2024

Arbitrum experienced a busy period in the last week of 2023 and the start of 2024, with strong transaction volumes and rising DeFi activity on the network. The development has resulted in a spike in the native ARB token, which gained over 10% to trade close to $2.

TVL Exceeds $2 Billion

According to data from CoinMarketCap, Arbitrum’s total value locked now exceeds $2 billion, as decentralized applications (dApps) on the network see over $900 million in 24-hour trading volumes. Inflows into the network totaled $52.16 million in the last 24 hours, led by GMX.

Dramatic Increase Since October

Data from DeFiLlama indicates that Arbitrum’s dApps have seen their TVL increase by almost $1 billion since October. This dramatic growth…

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