Arbitrum transactions count set new record on Oct.27

Approaching Airdrop? Arbitrum Transactions at ATH

There are several reasons why Arbitrum transactions count set new record on Oct.27, 2022.

Arbitrum, the dominant Ethereum L2 network on Optimistic Rollups, saw its daily transaction count soar above 400,000 txs for the first time.

Arbitrum transactions count in 24h sets new highs: possible reason

On 27th October 2022, the network of Ethereum-based L2 protocol Arbitrum saw a record increase in transaction volume.

Image by Arbiscan

The Arbitrum network processed 426,120 transactions just in 24 hours. As a result, in just two weeks, this key activity metric has nearly doubled — a whopping 635% increase over the past year. This is a spin-off of increased public interest in using Arbitrum as a fast and cheap alternative to Ethereum L1.

Senior blockchain analyst Colin Wu shares his thoughts on the likely reasons behind the Arbitrum network activity in late October.

On October 27, the daily transaction count on the Arbitrum chain exceeded 420,000, a record high. In the past five days, Arbitrum has added more than 10,000 addresses per day. The main reason is that users are stimulated by Aptos releasing airdrops.https://t.co/GqWITvCvmL

— Wu Blockchain (@WuBlockchain) October 28, 2022

According to him, inspired by the overpriced Aptos (APT) token airdrop, Arbitrum users decided to accelerate network usage in order to qualify for ARBI’s hypothetical airdrop.

Arbitrum Airdrop: Free money distributions are still popular for Web3 users

Arbitrum users may be waiting for a “retro airdrop” or “retro-drop”, ie. H. Tokens are distributed as a reward for previous network activity. The most important airdrops reward users who trade at scale, mint NFTs, swap tokens and hold rival tokens.

Some airdrops have resulted in five- and even six-figure wins for eligible accounts. The airdrop of Arbitrum’s main competitor, Optimism, is one of the most generous token distributions in DeFi. Because of this, Web3 enthusiasts are trying to follow in the footsteps of “airdrop” hunters who stole thousands of dollars and spent less than $1 on gas.

GetBlock’s Arbitrum nodes: One-click endpoint to largest L2

GetBlock, the primary API provider for blockchain nodes, was one of the first blockchain infrastructure specialists to add Arbitrum nodes to its stack. We stand ready to enhance dApps, NFT marketplaces and even centralized cryptocurrency services with reliable endpoints of shared and dedicated Arbitrum nodes.

Arbitrum nodes are available in both free and paid plans. Users can access Ethereum L2 via JSON-RPC and WebSockets methods.

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