Introduction

Arbitrum One is a premier Layer 2 scaling solution for the Ethereum blockchain, launched in 2021 by Offchain Labs. It leverages optimistic rollup technology to enhance Ethereum's scalability by processing transactions off-chain and subsequently batching them for settlement on the Ethereum mainnet. This method significantly boosts transaction throughput and lowers gas fees, making decentralized applications (dApps) more efficient and cost-effective.

Key Features:

• Scalability: Capable of handling thousands of transactions per second, Arbitrum One effectively reduces network congestion.
• Cost Efficiency: Minimizes gas fees by decreasing on-chain data and utilizing off-chain computations.
• EVM Compatibility: Fully compatible with the Ethereum Virtual Machine, allowing seamless deployment of existing Ethereum smart contracts.
• Security: Inherits Ethereum’s robust security model, ensuring high levels of decentralization and protection.

Since its launch, Arbitrum One has garnered substantial traction in the decentralized finance (DeFi) and non-fungible token (NFT) sectors. Numerous prominent protocols and projects have integrated with Arbitrum One to benefit from its scalability and cost advantages, cementing its role as a vital infrastructure component within the Ethereum ecosystem. Arbitrum One continues to spearhead the next wave of decentralized innovation by bridging the gap between Ethereum’s security and the escalating demand for scalable blockchain solutions.

Arbitrum One: Network at a Glance

Arbitrum One has rapidly grown to become a cornerstone of the Ethereum ecosystem, leveraging its Layer 2 scaling capabilities to support a vibrant and expanding network. Below are key statistics that provide an overview of its current state:

Protocols: 742

Arbitrum One supports 742 protocols across sectors like DeFi, NFTs, and gaming, showcasing its versatility and ability to host a wide range of decentralized applications (dApps).

Weekly Active Addresses: 1,723,989

With 1,723,989 active addresses, Arbitrum One demonstrates a strong and engaged user base, including both individual users and institutions interacting with the platform.

Weekly Transactions: 18,634,909

On average, Arbitrum One handles approximately 18,634,909 transactions each week. This consistent transaction volume underscores the platform's reliability and its capacity to support a dynamic and growing ecosystem of dApps and users.

Total Value Locked (TVL): $2.389 Billion

The platform's TVL of $2.389 billion reflects the total assets staked, provided as liquidity, or locked in smart contracts, indicating significant trust and financial commitment from the community.  Source: dune.com/queries/3970986

Bridged TVL: $10.066 Billion

Bridged TVL of $$10.066 billion represents assets transferred from Ethereum mainnet and other networks to Arbitrum One, highlighting its role in scaling Ethereum by facilitating seamless asset transfers and reducing mainnet congestion.

Sources of TVL: Top 3 Bridges

Arbitrum One’s Total Value Locked (TVL) is supported by several key bridges that facilitate the seamless transfer of assets into its ecosystem. Here are the top three bridges contributing to Arbitrum One’s TVL:

1. Official Arbitrum Bridge
   
   Purpose: The primary bridge for moving assets between the Ethereum mainnet and Arbitrum One.
   
   Features: Secure and user-friendly, supporting a wide range of ERC-20 tokens and ETH.

Although the Original Arbitrum Bridge is losing its popularity, it played a critical role. Right now, the situation with users looks as follows:

2. Circle Bridge
   
   Purpose: Specializes in transferring stablecoins, particularly USD Coin (USDC), to Arbitrum One.
   
   ‍Features: Ensures regulatory compliance and high transaction throughput, enhancing liquidity for DeFi applications.

Top 5 Chains to Bridge USDC to Arbitrum Still: Ethereum, Base, Avalanche, Solana, Noble:

Daily users of Circle Bridge are maintaining stable numbers, and the current situation is as follows:

3. Across Bridge
   
   Purpose: Enables cross-chain asset transfers from multiple blockchains beyond Ethereum.
   
   ‍Features: Supports a diverse array of tokens and promotes interoperability across different blockchain networks.

The top 5 chains for bridging USDC to Arbitrum differ slightly from those used by the Circle Bridge and are as follows: Ethereum, Base, zkSync, Linea, Optimism

Based on user activity, this bridge is quite popular, and the chart below illustrates its usage:

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Arbitrum Perpetual Projects (Comparison)

Arbitrum One has become a thriving hub for decentralized perpetual contracts, offering users efficient and cost-effective trading options. Below is a comparison of the top three perpetual projects on Arbitrum: GMX, Vertex Perps, Gains Network

The key values are as follows:

According to the chart, they are regularly making between $200,000 and $1,000,000 in fees on average:

Each project, on average, has around 3,000 active users per month. However, this number has declined in recent months:

Globally, popular markets continue to include BTC, ETH, and SOL, but we are also seeing growth in memcoin perpetual contracts such as DOGE and PEPE: 

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Dashboards: 

Top 3 Perpetual Projects Comparison:
dune.com/outputlayer/arbitrum-perpetual

Bridges to and from Arbitrum: Global Dashboard Overview (TOP 3): dune.com/outputlayer/bridges-arbitrum