Arbitrum celebrates crossing 200M transactions & 4M users; but are developers leaving the protocol?
The 200 millionth transaction was commemorated on the official Arbitrum Twitter account. According to a Dune dashboard, the project has almost 4.4 million total active accounts. However, are their programmers abandoning the protocol?
Source: Dune dashboard
Even though there have been more than 200 million transactions, the User Activity Profile shows that almost 25% of all users have only made one transaction. According to this information, 1.1 million individuals may have abandoned the project after selling their airdrop tokens. While only 1. to 1000 transactions were made by 70.7% of users.
Source: Dune dashboard
In the previous 90 days, Arbitrum has noticed a consistent rise in daily cumulative earnings. Token Terminal reports that the total earnings are at $5.3 million.
Source: Token Terminal
Additionally, it had the largest earnings over the last 90 days compared to Polygon and Optimism. Arbitrum has positive earnings, whereas Optimism and Polygon’s earnings are still in the red.
Source: Token Terminal
Arbitrum dominates in other metrics, but its active developer count has remained stagnant. The graph has been downward since its peak on March 29 at 32. Arbitrum had 23 daily active developers as of Thursday.
Token Terminal calculates the number of active developers by counting the number of individuals who made several commits in the project’s GitHub repositories over the previous 30 days.
Source: Token Terminal
The most recent data shows that Polygon and Optimism have roughly twice as many daily active developers as Arbitrum. While StarkNet reported 21 developers who were active every day, almost as many as Arbitrum.
Source: Token Terminal
Read more:
- Arbitrum Network Surpasses 5 Million Accounts, Showing Strong Growth In Cryptocurrency World
- 23 Whale Wallets Hold Over $1 Million Arbitrum (ARB), What Should Investors Consider?