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The total lockdown volume of the Arbitrum network reached 2.18 billion US dollars, with GMX accounting for 26.05%

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According to reports, according to DefiLlama data, the total lockup volume of the Arbitrum network reached 2.18 billion US dollars, an increase of approximately 0.98% compared to t

The total lockdown volume of the Arbitrum network reached 2.18 billion US dollars, with GMX accounting for 26.05%

According to reports, according to DefiLlama data, the total lockup volume of the Arbitrum network reached 2.18 billion US dollars, an increase of approximately 0.98% compared to the previous month. Among them, GMX accounted for 26.05%, an increase of approximately 14.35% compared to the previous month.

The total lockdown volume of the Arbitrum network reached 2.18 billion US dollars, with GMX accounting for 26.05%

I. Introduction
A. Explanation of DefiLlama
B. Overview of the Arbitrum Network
II. Total Lockup Volume of the Arbitrum Network
A. Definition of Lockup Volume
B. 2.18 Billion US Dollars Lockup Volume
III. GMX’s Share in the Lockup Volume
A. What is GMX?
B. Comparing GMX’s Share with the Previous Month
IV. Reasons for the Increase in Lockup Volume
A. Arbitrum’s Advantages
B. New DApps Launched on the Arbitrum Network
V. Conclusion
VI. FAQs
Table 2: The Article
# The Total Lockup Volume of the Arbitrum Network Surges to $2.18 billion
DefiLlama, a reputable platform monitoring decentralized finance (DeFi) protocols, recently released data that showed the lockup volume of the Arbitrum network increased by approximately 0.98% compared to the previous month. The total lockup volume for the Arbitrum network reached $2.18 billion, marking a significant milestone in the history of the network. GMX, a DeFi platform, contributed the most to the growth, accounting for 26.05% of the total lockup volume.

What is Lockup Volume?

The term lockup volume refers to the total amount of locked-up assets in a DeFi network. When an investor locks their cryptocurrency assets in a DeFi protocol, they are contributing to the network’s lockup volume. Locking up digital assets helps increase the security and efficiency of the DeFi network.

GMX’s Share in the Lockup Volume

GMX, a DeFi protocol, contributed 26.05% to the total lockup volume, marking a 14.35% increase compared to the previous month. GMX is an automated market maker (AMM) that runs on the Arbitrum network. It is a highly efficient platform that offers swap services to users. Its increase in contribution to the lockup volume is an indication that more investors are trusting the platform for their trades.

Reasons for the Increase in Lockup Volume

The Arbitrum network has many advantages over other DeFi platforms, which have attracted many investors to the network. The network boasts of having almost zero gas fees and is highly scalable. Additionally, the Arbitrum network is highly inclusive, as it allows developers to build projects using Ethereum programming languages.
Another reason for the increase in lockup volume could be attributed to the new DApps launched on the Arbitrum network. Many DeFi protocols, including GMX, have launched on the Arbitrum network. This has attracted many investors to the network, and they have locked up their digital assets with the network.

Conclusion

The Arbitrum network continues to grow in popularity, and its recent milestone of reaching $2.18 billion in lockup volume is a clear indication of that. The network’s efficiency, scalability, and inclusivity, combined with the new projects launched on the network, have contributed to its growth.

FAQs

Q1. What is DefiLlama?

DefiLlama is a platform that monitors decentralized finance (DeFi) protocols by tracking their TVL (total value locked) and other vital data.

Q2. What is Arbitrum?

Arbitrum is a layer 2 solution designed to foster the scalability, efficiency and inclusivity of Ethereum network in many aspects.

Q3. Why is lockup volume important?

Lockup volume is essential as it helps increase the security and efficiency of a DeFi network while allowing investors to earn passive income by locking up their cryptocurrency.

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