Layer 2 Arbitrum has achieved a major milestone in its network. According to data from crypto analytics provider IntoTheBlock (ITB), Arbitrum's daily transactions have increased to two million since May 8.
As ITB noted, since March, Arbitrum has consistently averaged one million transactions per day. This is important because it proves the network is more user-friendly than competing networks.
The increase in Arbitrum trading has been a major buildup over time. According to the one-year chart, Arbitrum's transaction growth rate remained relatively stable, around 100,000 to 500,000, from September to October 2023.
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This Arbitrum transaction milestone comes at a time when the protocol announced its Stylus MultiVM protocol has reached a new update. Dubbed the Giga update, the upgrade is designed to further reduce transaction fees, making them 2 to 4 times cheaper. The Stylus update also comes with better tooling, improved safety, and the ability to compress contract sizes for enhanced functionality.
Arbitrum occupies a unique position in the Ethereum L2 ecosystem. With a rich track record of price movements and bullish fundamentals. In mid-March, 1.6 billion ARB tokens flooded the market. Amid bearish sentiment at the time, the tokens still showed resilience.
Currently, Arbitrum is changing hands at a price of 1.02 USD, a slight increase of 0.17%. According to top market analyst Ali Martinez, the TD Sequential indicator is currently giving a buy signal on Arbitrum's weekly chart. According to the analyst, this indicator suggests a recovery of one to four candles for ARB in the near term.
![](https://public.bnbstatic.com/image/pgc/202405/6ffcfa7ae54c5d1a68fc353737544d9b.png)
“TD Sequential issued a buy signal on the Arbitrum weekly chart. It predicts ARB will recover from one to four candles!” the analyst shared on X.
Source: https://tapchibitcoin.io/arbitrum-arb-dat-cot-moc-an-tuong-2-million- Giao-dich-hang-ngay.html