Key Points:

  • Arbitrum attracted more than 5 million registered accounts after last March airdrop.

  • However, the number of active accounts for 84%.

  • The network had over 1.5 billion ETH secured since its start.

Layer-2 scaling solution for Ethereum Arbitrum (ARB) has gained a big number of users since its first airdrop last month.

According to data provided by Dune Analytics, the number of Arbitrum accounts, or wallet addresses, topped 5 million on April 17.

Arbitrum’s rise has come on the heels of both a development cycle and the hoopla surrounding its March 23 airdrop, which distributed 1.275 billion ARB tokens to a total of 625,143 eligible addresses. With the latest ARB airdrop, the number of accounts reached 3.4 million.

Despite the tremendous surge that propelled Arbitrum above the 5 million account milestone, weekly user activity seems to have dramatically changed from the March 20 peak of 1.38 million to roughly 430,000 users.

Source: Dune

Among the almost five million total Arbitrum accounts, 24.2% had just one transaction, suggesting a pool of users who sold their ARB immediately after getting the airdrop. Notwithstanding the fact that 84% of all ARB accounts, had at least one transaction, extrapolating the data shows the remainder of the story.

Outside of individual addresses, the ARB ecosystem currently has over four million active accounts, or specifically 4.2 million accounts with approximately 200 million transactions processed and over 1.5 billion ETH secured since its start.

Arbitrum DAO’s plan to return 700 million governance tokens to its coffers was heavily on April 15. The proposal was rejected by 118 million votes defeated, representing 84% of all votes cast, whereas 21 million ARB tokens voted in favor of it, accounting for almost 14.5% of all votes cast. Approximately 2 million ARB tokens did not vote.

The revised proposal AIP-1.2 received community approval. It has now been passed with 138 million ARBs voting in favor, representing 99.15%.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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