Arbitrum captures lion share of derivatives transaction volume, ARB price likely to revisit 2024 peak

Arbitrum has captured a large volume of the derivatives transaction volume, according to data from DeFi intelligence tracker DeFiLlama. In the past week, Arbitrum dominated other derivatives protocols with $15.44 billion in trade volume. 

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Arbitrum dominates DeFi transaction volume, likely to catalyze ARB gains

Data from DeFiLlama shows that Arbitrum has captured the largest share of the $40.9 billion transaction volume of multi-chain derivatives protocols. While competitors Ethereum, dYdX and Solana accounted for 24.04%, 17.30% and 8.73% respectively. 

The rise in Ethereum’s share was largely driven by Aevo, a derivatives trading platform. Arbitrum accounted for $15.44 billion in derivatives trading volume in the week of February 11 and 17. 

DeFi trading volume. Source: DeFiLlama 

Arbitrum’s derivatives trade volume has climbed consistently throughout 2024, as seen in the chart below. 

Derivatives trading volume on Arbitrum 

ARB price climbed is $2 on Sunday. The token is likely to rally to its 2024 peak of $2.42. ARB yielded nearly 3% gains to holders in the past week. If ARB price continues its uptrend, it could hit its 2024 peak and target the $3 level.