Arbitrum Bridge Dominates Among Other Protocols in Terms of Daily Active User Growth

According to Token Terminal, Arbitrum Bridge active users grew by 305.7% in the last 24 hours. Notably, Pendle and Ether.fi are in second and third place.

Active users of Arbitrum Bridge grew by 305.7% in 24 hours Tracking the daily performance of decentralized finance (DeFi) protocols, Token Terminal has revealed that Arbitrum Bridge is leading other protocols in terms of daily active user growth.

According to the data, Arbitrum Bridge active users grew by 305.7% in the last 24 hours. Pendle and Ether.fi are in second and third place with 296% and 255.5% growth respectively.

Earlier, we wrote about the fact that liquid restaking governance tokens grew by 11.5%, among which the leaders of growth were the aforementioned coins.

The rating of protocols by active users daily. Source: Token Terminal

Arbitrum Dominates 64% Among Other Bridges in Ethereum

According to Glassnode, Arbitrum is the largest bridge in Ethereum by Total Value Locked (TVL), with a dominance of 64.8%. Polygon (MATIC) ranks second with a dominance of 21.08%, having remained the largest bridge in Ethereum until around March 2023.

As of Mar. 9, 2023, Polygon’s dominance among other bridges in Ethereum was 35.168%, while Arbitrum’s dominance was 31.089%.

Heatmap of bridges on Ethereum by TVL. Source: Glassnode

Why Are Arbitrum Bridge Users Growing?

Arbitrum Bridge allows users to move their crypto assets from Ethereum Mainnet (Layer 1) to Arbitrum One (Layer 2). Usually, bridge activity increases with airdrop announcements, but this is not the case for Arbitrum Bridge.

The high network activity can also be attributed to the popularity of decentralized games. Players make transactions on the network to purchase additional items and other in-game assets.

On Jun. 9, it was announced that Arbitrum Decentralized Autonomous Organization (DAO) approved the allocation of 200 million ARB for the development of the Gaming Catalyst Program (GCP). This proposal was first made in March 2024.

The GCP plans to increase Arbitrum’s popularity for creating Web3 games. For example, Treasure Hunt, created by Gomble Games, launched on the blockchain on June 17.

Arrrrr! Gomble Games’ Treasure Hunt adventure on @arbitrum begins June 17th?‍☠️

You’re on a mysterious island, surrounded by hidden treasures. All you have to do is place your bets on the ‘tiles.’

Which tiles hold the Treasure Chest?Which ones hide Lucky Draw Tickets?

It’s a… pic.twitter.com/giV4bybeYb

— Gomble Games (@gomblegames) June 13, 2024

However, Arbitrum isn’t the only one looking to tap into the web3 games market. Earlier, we wrote about what Avalanche is doing for this purpose and how it is becoming popular in the Asian market.