- Arbitrum saw a notable boost in TVL over the last few days.
The price of ARB fell significantly as activity declined.
As a researcher with experience in the blockchain and cryptocurrency space, I’ve been closely monitoring Arbitrum [ARB], especially given its recent surge in Total Value Locked (TVL) that surpassed some of its contemporaries. The TVL growth is an impressive feat and a testament to the project’s growing popularity.
Over the past few days, there has been a significant increase in the Total Value Locked (TVL) in Arbitrum’s [ARB] smart contracts, causing it to surpass competitors like Base, Polygon‘s [MATIC], and Optimism’s [OP] in this metric.
Getting into gaming
As a token holder and analysis specialist, I’m excited to share that following a widely-approved DAO proposition, Arbitrum has announced its plan to release a substantial quantity of their native tokens.
This can also be seen as a move to significantly strengthen their gaming presence on layer-2s.
When I penned down this text, the proposition had received strong approval from a large number of ARB holders.
The Gaming Catalyst Program (GCP) proposal suggests a distribution of approximately 225 million ARB tokens, equivalent to around $255 million at current prices, over a three-year timespan.
As a crypto investor, I’ll ensure that this allocation strategy is implemented effectively. A significant chunk, amounting to 160 million ARB, will be dedicated towards engaging developers. This will be achieved by providing grants or making direct investments, meticulously selected on a project-by-project basis.
Approximately 40 million ARB (Autonomous Reputation Coins) will be dedicated towards constructing the essential infrastructure for these games to flourish.
In the Arbitrum ecosystem, we will create fundamental tools and technological bases tailored for on-chain games.
Arbitrum faces some challenges
In spite of various contributing elements, the total engagement on the Arbitrum network showed a decrease. The number of daily active addresses dropped significantly from 1.5 million to 750,000 during the recent weeks.
Coupled with that, the number of Daily Transactions fell as well.
Realistic or not, here’s ARB’s market cap in MATIC’s terms
At the current moment, the cost of an ARB token was underperforming. The token was priced at $0.9645 during this update. Over the preceding 24 hours, its value had dropped noticeably by approximately 9%.
Network Growth also waned, implying new addresses were losing interest in ARB at press time.
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2024-06-09 09:11