Transactions on Arbitrum Surpass Bitcoin — Along With Fees
Even as transactions accelerate, the cost to use the Arbitrum blockchain remains low
AppleZoomZoom/Shutterstock modified by Blockworks
The number of transactions on the Ethereum layer 2 scaling solution, Arbitrum, has now surpassed those on the Bitcoin blockchain. And fees have jumped accordingly.
According to information on Crypto Fees, Arbitrum received almost $800,000 in transaction fees over the past day, whereas Bitcoin had only seen around $600,000.
Although the 7-day average fees received on Arbitrum (ARB) are still slightly lower than that of Bitcoin’s — at $387,000 versus Bitcoin’s $630,000 — the steadily increasing number could indicate that there are now more users posting transactions on the Ethereum L2 network than on Bitcoin (BTC).
Despite the number of transaction fees on Arbitrum increasing, the cost to transact remains relatively constant.
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