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Arbitrum’s On-Chain Accounts Surpass 3 Million

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According to the data of Dune Analytics on February 27, the total number of Arbitrum on-chain accounts has exceeded 3 million, reaching 3.04 million so far, of…

Arbitrums On-Chain Accounts Surpass 3 Million

According to the data of Dune Analytics on February 27, the total number of Arbitrum on-chain accounts has exceeded 3 million, reaching 3.04 million so far, of which the number of active accounts is 2.347 million, accounting for about 78.1%. In addition, at present, the total number of smart contracts created by Arbitrum has reached 1580279, and the total value of locks on the chain has reached $4.424 billion, of which the value of ETH locks is about $1.192 billion, accounting for about 27%.

The total number of Arbitrum on-chain accounts exceeded 3 million, with active accounts accounting for about 78.1%

Interpretation of the news:


Arbitrum is a layer 2 scaling solution for the Ethereum network that is gaining popularity among users. According to the data provided by Dune Analytics on February 27, the total number of on-chain accounts on Arbitrum has exceeded 3 million, with active accounts accounting for about 78.1%. This highlights the growing adoption of Arbitrum among Ethereum users as they look for faster and cheaper transaction processing.

The rise in active accounts suggests that Ethereum users are turning to Arbitrum for its efficiency and cost-effectiveness. The total number of smart contracts created on Arbitrum has also reached an impressive 1,580,279, indicating that developers are embracing Arbitrum’s technology stack. This demonstrates the growing usage of decentralized applications (dApps) built on Arbitrum, which can offer more features than conventional centralized applications.

The total value of locks on the Arbitrum chain has reached $4.424 billion, of which the value of ETH locks is about $1.192 billion, accounting for about 27%. This indicates a significant amount of capital locking on the Arbitrum network, and Ethereum users seem to be confident in Arbitrum’s security and trustworthiness.

One factor contributing to the growth of Arbitrum’s on-chain accounts is its unique features offering. Arbitrum differs from other layer 2 scaling solutions, such as Optimism and zkSync, in that it uses an Optimistic Rollup mechanism. This design enables it to process large batches of transactions without requiring them to be executed on the Ethereum mainnet. It can also minimize costs and enhance scalability.

In conclusion, Arbitrum’s on-chain accounts surpassing 3 million marks a milestone for the network. The growing number of active accounts, smart contracts, and the value of locks on Arbitrum highlights the rise of the use of layer 2 scaling solutions in the Ethereum ecosystem. Arbitrum’s innovative design properties are driving its growth, and it remains to be seen if its adoption will continue to increase.

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