The token airdrop was successful. Most users were quick to claim their tokens and the ARB price is starting to stabilize!
Arbitrum is now among the 40 largest caps in the crypto market. At the time of writing, Arbitrum is ranked 37th in the CoinMarketCap ranking.
According to the specialized site Dune, nearly 86% of the tokens have been recovered. The trading volume on the token is one of the largest on the market with more than a billion dollars over the last 24 hours. It is barely less than XRP and better than Litecoin, BNB or even MATIC.
With this total capitalization amounting to nearly $1.6 billion, Arbitrum ranks second among Ethereum second layer solutions, in terms of capitalization. Only Polygon, with almost 10 billion dollars, does better.
Arbitrum is currently ahead of competitors such as Optimism, Loopring and Harmony. It is still too early to say that Arbitrum will retain this position, but the first figures are interesting for the optimistic rollup solution.
Arbitrum also has some interesting on-chain data. Layer 2 has the 4th largest TVL (Total Value Locked) in the crypto ecosystem with $2.18 billion. Only Ethereum, Tron and the Binance Smart Chain do better. Arbitrum currently ranks ahead of Polygon, Optimism and Avalanche.
Arbitrum already hosts DeFi behemoths such as the GMX exchange, Uniswap, Curve and Aave. It is very easy to deploy dApps there and no doubt many protocols will try to take advantage of the large liquidity of the network.
