According to data from DeFillama, transaction volume on Arbitrum’s decentralized exchange (DEX) has reached all-time highs (ATH) each week in the last two weeks.

Over the last 7 days, DEX trading increased by 32.41% to $4.34 billion. In his week starting March 5, Arbitrum’s trading volume surged to his $3.28 billion.

Arbitrum weekly volume
Arbitrum’s weekly DEX volume (Source: DeFillama)

As of March 20, it had $535 million in daily trading volume, second only to Ethereum (ETH) and nearly double that of Binance Smart Chain (BSC).

Arbitrum’s top five DEXs were Uniswap, SushiSwap, ZyberSwap, Camelot, and Balancer. Over the past 7 days, trading volumes on these platforms have increased by an average of over 40%. Camelot jumped 95% to $38.45 million, while ZyberSwap increased slightly by 2.84% to $61.41 million.

Meanwhile, Uniswap remains Arbitrum’s primary DEX platform, accounting for 48% of all transactions on the Layer 2 (L2) network.

Arbitrum’s TVL and Stablecoin Inflow Increase

The total amount of assets locked on Arbitrum has grown by more than 20% over the past seven days to reach $3.85 billion. L2 beatAs for ETH, 2.15 million tokens are locked on the network.

Arbitrum TVL
Arbitrum’s TVL (Source: L2Beats)

The rise in TVL also coincided with increased network activity in the L2 network. Over the period, Arbitrum’s daily transactions per second increased by 80.82% to 10.82.

According to DeFillama data, Arbitrum’s primary DeFi protocol is GMX, and the project controls 28.27% of Arbitrum’s total TVL.

Meanwhile, L2 solutions continue to see an increasing influx of stablecoins. For context, Arbitrum’s USD inflow increased by 9% to $1.59 billion despite recent problems plaguing USD Coin (USDC), the dominant stablecoin in the ecosystem. became.

During this period, Tether’s USDT and algorithmic stablecoin DAI’s inflows into the network were higher than USDC’s.

By Jules

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