Arbitrum, a dominant Ethereum’s Layer 2 network on Optimistic Rollups, sees its daily transactions count spiking over 400,000 txs for the first time ever.
Arbitrum transactions count in 24h sets new highs: possible reason
On October 27, 2022, Ethereum-based L2 protocol Arbitrum, registered a record-breaking spike of transactions handled by its network.
Image by Arbiscan
In just 24 hours, Arbitrum network processed 426 120 transactions. As such, this crucial activity metric almost doubled in just two weeks - and added a whopping 635% in last year. This is a derivative of increased public interest in using Arbitrum as a fast and low-cost alternative to Ethereum’s L1.
Seasoned blockchain analyst Colin Wu shares his estimations of possible reasons that catalyzed Arbitrum network activity in late October.
On October 27, the daily transaction count on the Arbitrum chain exceeded 420,000, a record high. In the past five days, Arbitrum has added more than 10,000 addresses per day. The main reason is that users are stimulated by Aptos releasing airdrops.https://t.co/GqWITvCvmLOctober 28, 2022
According to him, inspired by an overhyped Aptos (APT) token airdrop, Arbitrum users decided to accelerate the network usage to become eligible to hypothetical airdrop of ARBI.
Arbitrum Airdrop: Free money distributions are still popular for Web3 users
Arbitrum users might be waiting for ‘retro airdrop’ or ‘retro-drop’, i.e. distribution of tokens as rewards for previous network activity. The most significant airdrops rewarded users for large-scale transactions, minting of NFTs, token swaps and holding competitors’ tokens.
Some airdrops resulted in five- and even six-digit profits for eligible accounts. The airdrop of Optimism, a key Arbitrum competitor, was one of the most generous token distributions in DeFi. That’s why Web3 enthusiasts are trying to follow the footsteps of ‘airdrop’ hunters who grabbed thousands of dollars spending less than $1 on gas.
GetBlock’s Arbitrum nodes: One-click endpoint to largest L2
GetBlock, a top-tier blockchain nodes API provider, was one of the first blockchain infrastructure majors to add Arbitrum nodes to its stack. We’re always ready to supercharge dApps, NFT marketplaces and even centralized cryptocurrency services with reliable endpoints to shared and dedicated Arbitrum nodes.
Arbitrum nodes are available in both free and paid tariff plans. Users can access Ethereum's L2 via JSON-RPC and WebSockets method.