Journalist
Posted:
- Arbitrum’s monthly average user retention rate has seen steady growth.
- ARB achieved a gain of over 2% by the end of trading on 12 September.
Arbititrum [ARB] has demonstrated a solid retention rate, as evidenced by a recent chart. Additionally, it has consistently maintained its position at the top of the L2 rankings.
How much are 1,10,100 ARBs worth today
Arbitrum scores a decent user retention rate
According to a recent chart released by Token Terminal, Arbitrum has experienced a respectable retention rate over the past couple of months. This retention rate is calculated based on the number of active monthly users.
This metric considers the users engaging with projects on the network each month and reflects its daily active users.
👥🧲@arbitrum retention rates looking green pic.twitter.com/5kyjcVlsYY
— Token Terminal (@tokenterminal) September 12, 2023
Data from DefiLlama further revealed that the network has witnessed a significant influx of returning users, with approximately 120,000 users actively participating.
However, the number of new users joining the platform has been comparatively low compared to the active returning user base.
Despite this lower influx of new users, the active user community has made substantial contributions to the network’s overall volume and Total Value Locked (TVL).
Source: DefiLlama
Arbitrum volume maintains the $200 million threshold
While the recent volume on Arbitrum has been lower than historical figures, it remains decent. Currently, the volume stands at over $240 million. Although this figure is slightly below the $280 million recorded on 11 September, it was not the lowest point in the month.
Additionally, there has been a noticeable downtrend in Total Value Locked (TVL), but there was a slight uptick as of the latest data.
Source: DefiLlama
Despite the overall decline in TVL, Arbitrum maintained its leadership position compared to other Layer 2 solutions.
Comparing the L2 TVL
Analyzing the TVL data from L2 Beats confirmed the observed decline indicated on the Defillama chart. L2 Beats’ data revealed a TVL decrease of more than 3% as of this writing.
However, despite this decline, Arbitrum maintained its prominent position among other Layer 2 solutions. The data on the chart displayed that Arbitrum held over 54% of the L2 market share, with a TVL surpassing $5 billion.
In contrast, the second-highest TVL among L2s accounted for just over 20% of the market share, underscoring Arbitrum’s significant dominance.
Arbitrum recovers as whale accumulation is observed
In recent days, Arbitrum has experienced some significant sell-offs from its larger holders. Despite these sell-offs, Arbitrum achieved a gain of over 2% by the end of trading on 12 September. As of this writing, it was trading at approximately $0.7, with an additional increase of over 1%.
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Also, it’s worth noting that Arbitrum’s Relative Strength Index (RSI) still indicated that it was in the oversold zone. However, there were visible signs of an upward trend as of this writing.
Source: TradingView
Additionally, a recent post on Lookonchain revealed that certain whales were actively accumulating ARB despite the sell-offs. According to the post, one whale invested a significant sum of 1.82 million USD to acquire 2.3 million ARB tokens.
