Coinage • Mar 14, 24
Dencun Marks ‘Massive Moment’ for Ethereum: Arbitrum Co-Founder
Cheaper transactions could spark innovation and spur adoption
Read more
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$3.9B
$1.2B
2.7B ARB
22 days
#30
$2.40
-1.26%
-11.38%
-26.37%
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
ARB is the utility token of Arbitrum, an Ethereum layer-2 network. ARB functions as the governance token of the Arbitrum DAO, as holders may create and vote on governance proposals.
Arbitrum is an Ethereum layer-two scaling solution that strives to enhance the speed, scalability, and cost-efficiency of Ethereum. It utilizes optimistic rollups to aim for these improvements, moving most of the computation and storage load off-chain. This method seeks to provide higher throughput and lower fees compared to Ethereum, while still benefiting from Ethereum's security and compatibility. The native token of Arbitrum is ARB, which is used for governance. The developers behind Arbitrum, Offchain Labs, have transitioned to a decentralized autonomous organization (DAO) structure, known as the Arbitrum DAO. ARB holders can vote on proposals that influence the features, protocol upgrades, funds allocation, and election of a Security Council.
Arbitrum operates using optimistic rollups, a technology that aims to increase the scalability of Ethereum. It supports unmodified Ethereum Virtual Machine (EVM) contracts and transactions, meaning existing Ethereum decentralized applications (DApps) can run on Arbitrum without any code changes. Arbitrum aims to handle a high number of transactions per second with lower fees and faster finality, while maintaining the security guarantees of Ethereum. It also allows developers to deploy programs written in popular programming languages like Rust, C++, and more using Stylus, its upcoming EVM+ equivalence feature. Arbitrum does not rely on any centralized operator or sequencer to order transactions. Instead, it uses a decentralized network of validators who stake ARB tokens and are compensated for securing the network.
Arbitrum aims to provide a scalable and cost-efficient platform for developers to build and deploy Ethereum-compatible DApps. This positions it as a potential solution for developers who aim to overcome the scalability and cost issues associated with Ethereum. Additionally, with its upcoming EVM+ equivalence feature, Stylus, Arbitrum seeks to enable developers to deploy programs written in popular programming languages like Rust, C++, and more. The ARB token, used for governance, allows holders to vote on proposals that affect the features, protocol upgrades, funds allocation, and election of a Security Council, thereby influencing the future direction of the Arbitrum ecosystem.
Arbitrum was developed by Offchain Labs, a New York-based development company founded by Ed Felten, Steven Goldfeder, and Harry Kalodner, former Princeton University researchers with extensive experience in computer science, cryptography, and blockchain. In 2021, Offchain Labs raised funds in its latest Series B funding round, led by Lightspeed Venture Partners, valuing the company at a certain amount. The Arbitrum DAO was announced as a shift towards a decentralized governance structure, with the ARB token serving as the governance token. In March 2023, Arbitrum announced an airdrop of ARB tokens to early users and DAOs building on Arbitrum. The token generation event took place on March 23, 2023. Arbitrum has a roadmap for 2023.
Arbitrum strives to address the challenges of high transaction fees and network congestion on Ethereum by offloading as much work and data storage as possible from Ethereum's mainnet, also known as Layer 1 (L1). This strategy of storing data off-chain used by the Arbitrum network is referred to as the Layer 2 (L2) scaling solution. Arbitrum employs a technology called Optimistic Rollups, which operates under the assumption that all new chain additions are genuine unless disputed within a week by a network user. This technology allows for the off-chain processing of transactions while striving to maintain the same level of security as the Ethereum mainnet. By processing transactions off-chain and only using the Ethereum mainnet as a final arbiter or validator, Arbitrum seeks to process transactions with less reliance on the main network. This approach aims to address the overall efficiency of the Ethereum network, with the intention of making it more manageable for users.
Arbitrum utilizes a variety of mechanisms that aim to uphold security measures, particularly with respect to user assets. It seeks to leverage the security of Ethereum, its Layer 1 host, through a set of smart contracts that manage communication between the Ethereum mainnet and the Arbitrum sidechain. These contracts strive to ensure that all transactions on the Arbitrum chain are valid. To further enhance security, Arbitrum validators are required to allocate a certain amount of cryptocurrency as a form of assurance. If they behave dishonestly or fail to validate transactions correctly, they may face the possibility of their allocated cryptocurrency being forfeited. Arbitrum also uses a fraud-proof system to detect and potentially penalize any invalid transactions. Data availability is another key feature that aims to allow users’ assets and data to be recovered from Layer 1 at any time, thus aiming to mitigate any potential loss. Users may also initiate a transaction request to the Inbox contract on Layer 1 to facilitate the retrieval of their assets. The AnyTrust mechanism aims to ensure that the retrieval transaction is processed correctly by Layer 2, thus aiming to mitigate any potential loss of assets.
Arbitrum is a platform that supports a variety of decentralized applications (DApps). Developers have the ability to build a range of DApps on Arbitrum, including decentralized finance (DeFi) applications, decentralized exchanges (DEXs), gaming platforms, and NFT marketplaces. Arbitrum supports infrastructure tools, web3 developer tools, and web3 wallet tools. It provides a suitable environment for the development of real-world asset DApps, venture capital firms, and web3 service providers. The platform strives to offer improvements in the scalability of Ethereum, and is utilized by developers who aim to build DApps with high throughput, low latency, and low transaction costs.
Arbitrum is utilized by a variety of projects and applications for their smart contracts. Some of these include GMX, a decentralized derivatives exchange; Radiant, a decentralized lending and borrowing platform; MAGIC (Treasure), a decentralized yield farming protocol; Gains Network (GNS), a decentralized prediction market platform; Camelot, a decentralized asset management platform; and Synapse (SYN), a decentralized exchange. These projects utilize Arbitrum's features with the intention to enhance user interaction while maintaining the security and decentralization of the underlying blockchain. Other projects that have integrated with Arbitrum include OpenSea, a well-known NFT marketplace; Forta, a decentralized monitoring network for real-time detection of web3 systems threats; MetaMask, a well-known EVM compatible crypto wallet; and Pantera Capital, an institutional asset manager with a focus on Blockchain technology.
Arbitrum has encountered a number of challenges and criticisms, particularly in relation to its governance and operational decisions. A significant controversy emerged when the Arbitrum Foundation proposed a budget of 750 million ARB tokens, nearly $1 billion, which was perceived as a ratification of a decision that had already been made. This led to a backlash from the community, with over 70% of tokens voting against the move. In response, the foundation clarified that the proposal was indeed a ratification and not a new proposal, and that some of the tokens had already been exchanged for stablecoins. The foundation also received criticism for transferring nearly 50 million ARB tokens on-chain, which it explained as a loan allocation to an entity in the financial markets space and conversion to fiat currency for operational costs. Another challenge was a partial outage due to an increase in network traffic, which lasted approximately two hours. The Arbitrum team acknowledged the issue, worked to resolve it, and indicated its intention to provide a detailed post-mortem report to clarify the incident and the measures taken to rectify it. These instances highlight Arbitrum's actions in response to community concerns and technical issues.
Coinage • Mar 14, 24
Dencun Marks ‘Massive Moment’ for Ethereum: Arbitrum Co-Founder
Cheaper transactions could spark innovation and spur adoption
Read more
CoinDesk • Mar 14, 24
The Graph Expands Subgraph to More Than 40 Blockchains Including Arbitrum, Base
The indexing layer is also expanding to Avalanche and Celo.
Read more
CoinDesk • Mar 13, 24
Arbitrum's ARB, Polygon's MATIC Lead Gains as Ethereum's Dencun Upgrade Goes Live
Ethereum's Dencun upgrade enabled a new way of storing data that was forecast to dramatically cut costs for interacting with layer-2 networks.
Read more
Decrypt • Mar 13, 24
Ethereum L2s Arbitrum, Optimism and Polygon See Gains Ahead of Dencun Upgrade
ARB token has gained 11% and OP has climbed 4% in the past day.
Read more
BeInCrypto • Jan 11, 24
Arbitrum (ARB) Eyes $3 After 60% Price Increase in January
The Arbitrum (ARB) price trend is considered bullish as long as the parabola is intact.The post Arbitrum (ARB) Eyes $3 After 60% Price Increase in January appeared first on BeInCrypto.
Read more
Coinage • Nov 29, 23
Is Arbitrum or Alogrand Crypto’s Hottest Project?
THORChain and Ethereum Attestation Service battle for Crypto Project of the Year
Read more
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4,726 unique individuals are talking about Arbitrum and it is ranked #37 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Arbitrum has an average sentiment score of 3.5 out of 5. Finally, Arbitrum is becoming more newsworthy, with 1 news articles published about Arbitrum. This is a 0% increase in news volume compared to yesterday.
On Twitter, people are mostly neutral about Arbitrum. There were 32.31% of tweets with bullish sentiment compared to 16.23% of tweets with a bearish sentiment about Arbitrum. 51.46% of tweets were neutral about Arbitrum. These sentiments are based on 1232 tweets.
On Reddit, Arbitrum was mentioned in 188 Reddit posts and there were 386 comments about Arbitrum. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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4,726 people
#37
3.5 out of 5
1
1,232 people
32.31%
Bullish
51.46%
Neutral
16.23%
Bearish
188
386
1,037,751
1,110,290
ARB/CAD (Canadian Dollar)
CA$2.02
ARB/JPY (Japanese Yen)
¥224.26
ARB/INR (Indian Rupee)
₹123.71
ARB/BRL (Real)
R$7.50
ARB/EUR (Euro)
€1.37
ARB/NGN (Nigerian Naira)
NGN 2,336.99
ARB/KRW (South Korean Won)
₩1,996.92
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The price of Arbitrum has decreased by 1.26% in the last hour and decreased by 11.38% in the past 24 hours. Arbitrum’s price has also fallen by 26.37% in the past week. The current price is $1.49 per ARB with a 24-hour trading volume of $1.21B. Currently, Arbitrum is valued at 37.97% below its all time high of $2.40. This all-time high was the highest price paid for Arbitrum since its launch.
The current circulating supply of Arbitrum is 2,653,939,384 ARB which means that Arbitrum has as total market cap of 2,653,939,384.
We update our Arbitrum to USD currency in real-time. Get the live price of Arbitrum on Coinbase.
The current market cap of Arbitrum is $3.93B. A high market cap implies that the asset is highly valued by the market.
The all-time high of Arbitrum is $2.40. This all-time high is highest price paid for Arbitrum since it was launched.
Over the last 24 hours, the trading volume of Arbitrum is $1.21B.
Assets that have a similar market cap to Arbitrum include Stellar Lumens, vechain, OKB, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of Arbitrum is 2.7 billion.
The median time that Coinbase customers hold Arbitrum before selling it or sending it to another account or address is 22 days.
Arbitrum ranks 106 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 97% of Coinbase users are buying Arbitrum. In other words, 97% of Coinbase customers have increased their net position in Arbitrum over the past 24 hours through trading.
Yes, Arbitrum is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Arbitrum guide.
Navigate the world of Ethereum Name Service (ENS) profiles. Connect, learn, and engage with the web3 community on profile.coinbase.com. Check out some of the most popular ENS profiles below.
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