Arbitrum Surpasses Ethereum in Derivatives Volume: A New Leader Emerges The numbers are in, and
Arbitrum is making waves in the world of cryptocurrencies. In a stunning turn of events, this
Layer 2 network has overtaken
Ethereum in derivatives volume, leaving many wondering: what's next?
According to
DefiLlama, Arbitrum's weekly transaction volume for derivatives hit an impressive
$18 billion, a whopping
17% increase compared to Ethereum's $9 billion. It's a clear sign that the tides are shifting.
For years, Ethereum reigned supreme as the go-to platform for derivatives. But on November 26th, 2023, the crown was passed to Arbitrum, and it hasn't looked back since. Month after month, its volume has outshined Ethereum's.
In December alone, Arbitrum saw a staggering $45 billion in derivatives transactions, while Ethereum trailed behind at $38 billion. And January? Another win for Arbitrum with $55 billion versus Ethereum's 18% drop.
This surge hasn't gone unnoticed. Data from DefiLlama reveals that Arbitrum now commands
42.44% of the multi-chain derivatives market share, while Ethereum's slice has shrunk by a worrying 38%.
As the market takes notice,
ARB, Arbitrum's governance token, is reaping the rewards. With a solid 10% rise in value over the past month and an MFI reading of 84.25 indicating strong demand, it's clear that ARB is gaining traction.
