Arbitrum remains the top destination for capital from Ethereum: the data

Arbitrum has managed to gain significant market share as demand for Ethereum rollups skyrockets.

According to data shared by CoinShares, Arbitrum remains the top destination for capital flows from Ethereum, among other protocols as well as Layer 2s. By the end of May, the network had attracted capital worth $4 billion.

• Close behind Arbitrum, Polygon rakes in $3 billion in capital, followed by Optimism with $983 million and dYdX with $342 million, according to the stats. revealed.
• In recent months, Arbitrum has managed to eclipse its rival protocols. One of the most significant developments was the highly anticipated launch of its native governance token, ARB, which was airdropped to early adopters of the platform based on their activity on Arbitrum between a specific duration.
• In the days leading up to the event, the daily transaction on the Ethereum-Layer 2 scaling system skyrocketed above 2.7 million.
• As the hype died down, the deal matters soaked almost 724k but was still more than 124% higher than the figures recorded at the start of the year.
• Total addresses over time on Arbitrum crossed seven million this week while that of its rival, Optimism, amounted to just over three million.
• Arbitrum recently stopped sending transactions to the mainnet for about two hours due to a software bug affecting the optimistic rollup sequencer. Foundation community leaders said the software bug “created stress on the network caused by the large backlog of transactions that had not been published on-chain.”