Arbitrum exceeds 200 million transactions

Arbitrum’s layer 2 scaling solution has surpassed 200 million transactions. But are developers leaving the protocol?

Today, the official Arbitrum Twitter account celebrate Milestone in reaching 200 million transactions. According to the Dune dashboard, the project also has over 4.4 million active accounts.

source: Dune dashboard

A quarter of users have used Arbitrum only once

Although the number of transactions has exceeded 200 million, the profile of user activity indicates that nearly a quarter of all users have made transactions only once. This data may indicate that about 1.1 million users did not return to the project after the sale of airdrop tokens.

While 70.7% of users have made transactions from 1 to 1000 times.

Layer-2 Arbitrum User Activity Profile
source: Dune dashboard

Increase in profits, the number of developers is still low

Arbitrum has seen a steady increase in daily cumulative profits over the past 90 days. According to Token Terminal, cumulative earnings were $5.3 million as of Thursday.

Graph showing gradual increase in profits.
source: token terminal

Also, compared to other second-tier projects, such as Polygon and Optimism, it has the highest earnings in the past 90 days. While Earnings Optimism and Polygon remain in negative territory, Arbitrum has positive earnings.

Compare daily cumulative earnings for Layer 2 protocols.
source: token terminal

Although Arbitrum led the way in other metrics, its number of active developers has been relatively slow. After peaking at 32 on March 29, the chart has been in a downtrend. As of Thursday, Arbitrum had 23 active developers per day.

Token Terminal measures active developers by evaluating the number of users who have made more than one commit to a project’s GitHub repositories in the past 30 days.

Arbitrum dismiss daily active developers.  token terminal
source: token terminal

According to the latest data, Polygon and Optimism have almost twice as many daily active developers as Arbitrum. While StarkNet logged 21 active developers per day, roughly equal to Arbitrum.

Comparison of daily active developers of Layer 2 protocols.
source: token terminal

Click here for our latest Arbitrum technical analysis.

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