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Arbitrum hits 200 million transactions, surpasses Bitcoin in daily transaction fees

In this post:

  • The Arbitrum network celebrated its 200 million milestones in terms of transactions.
  • The Arbitrum network now has over 4 million active users.
  • Arbitrum collected nearly $800,000 in transaction fees within the last day, surpassing Bitcoin’s $600,000.

The Arbitrum network celebrated its 200 million milestones in terms of transactions. According to a Dune dashboard, the network has over 4 million active users.

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Source: Dune dashboard

Arbitrum surpasses BTC in transaction fees

Developed by New York-based startup Offchain Labs, Arbitrum is an “optimistic rollup” operating on the Ethereum blockchain. Recent data from Crypto Fees reveals that Arbitrum collected nearly $800,000 in transaction fees within the last day, surpassing Bitcoin’s $600,000.

While the 7-day average fees for Arbitrum (ARB) remain marginally lower than Bitcoin’s—$387,000 compared to Bitcoin’s $630,000—the steadily rising figures could signal an increasing number of users opting for transactions on the Ethereum L2 network over Bitcoin (BTC).

Arbitrum has experienced a surge in transactions since its Nitro upgrade in August of last year, even surpassing the number of transactions on Ethereum itself. Despite the growing number of transaction fees on Arbitrum, the costs to transact have remained relatively stable.

The cost to send ETH on Arbitrum is around $0.10, while the estimated cost to swap tokens is $0.28. In comparison, the average transaction fee on Bitcoin hovers at approximately $2.05.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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