Arbitrum reaches $150 billion in Uniswap transaction volume

With a total swap volume of $150.2 billion, Arbitrum's value locked stands at $2.64 billion, making it the largest Layer 2 by TVL.

May 7, 2024 - 16:37
May 7, 2024 - 13:05
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Arbitrum reaches $150 billion in Uniswap transaction volume
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The Ethereum Layer 2 protocol Arbitrum has surpassed a milestone of $150 billion in transaction volume on the decentralized exchange Uniswap. Uniswap Labs announced on social media that Arbitrum is the first Layer 2 protocol to reach this milestone on the DEX.

 As of early May, Arbitrum's total swap volume reached $150.2 billion. According to data from DeFiLlama, Arbitrum's total value locked (TVL) stands at $2.64 billion, making it the largest Layer 2 by TVL and ranking fifth overall in TVL behind Layer 1 protocols Solana, BSC, Tron, and Ethereum.

Arbitrum's native token, ARB, was trading at $1.07 at 12:45 p.m. ET (16:45 UTC) on May 6, reflecting a 2% drop, or $0.022, in the last 24 hours, per The Block's price data for ARB. In March, Offchain Labs, Arbitrum's primary developer, released the Layer 2's latest upgrade called Atlas, which introduced block transaction support to help reduce Ethereum Layer 2 transaction costs, as reported by The Block. Uniswap remains the largest decentralized exchange by TVL, holding $5.54 billion as of May 6, based on data from DeFiLlama.