Are Arbitrum’s dApps keeping the ecosystem afloat?

AMBCrypto
AMBCrypto

30 Jun 2023 7:30 PM

Arbitrum's dApps bring in massive amounts of fees as activity on these protocols rises. Whales begin to show interest in ARB as well....

  • Arbitrum's dApps experienced a surge in network activity.
  • The MUX protocol, a dApp on Arbitrum, contributed to the increased activity by generating significant fees and volume.
  • However, DEX volumes and TVL on Arbitrum declined, indicating a need for growth in the DeFi sector.
  • Whales showed interest in Arbitrum's ARB token, with a significant investor making a large purchase.
  • The surge in ARB prices was attributed to old holders, as network growth and velocity declined.

The article highlights both positive and negative aspects of Arbitrum's ecosystem. The surge in network activity and interest from whales are positive indicators, while the decline in DEX volumes and TVL suggest room for improvement.

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You May Ask

What is the MUX protocol and how does it contribute to Arbitrum's network activity?Why did DEX volumes and TVL decline on Arbitrum despite the surge in dApp activity?What caused the surge in ARB prices and who were the main contributors?How did the decline in network growth and velocity impact ARB's market perception?

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