According to data shared by CoinShares, Arbitrum remains the top location for capital outflows from Ethereum, among other protocols and layer-2. By the end of May, the network had attracted a total capital value of $4 billion.
Among other protocols, Polygon is next with $3 billion in capital, followed by Optimism with $983 million and dYdX with $342 million, according to statistics.
In recent months, Arbitrum has outperformed competing protocols. An important development is the launch of ARB, the platform’s native token, which is freely distributed to initial users based on their activity on Arbitrum over a specific period of time.
Prior to the event, the number of daily transactions on Ethereum’s layer-2 scaling system spiked to over 2.7 million. As the event stabilized, the number of transactions dropped to around 724,000, but was still 124% higher than at the start of the year.
The number of addresses on Arbitrum surpassed seven million this week, while its rival, Optimism, hit just over three million.