|

Arbitrum daily transaction count hits record high ahead of token airdrop

Activity on Arbitrum, an Ethereum-layer 2 scaling system that uses Optimistic rollups technology to provide faster and cheaper transactions, has picked up the pace ahead of the planned airdrop of its native token ARB on Thursday.

The number of daily transactions on Arbitrum rose to a new record high of 1,312,052 on Wednesday, surpassing the previous peak of 1,103,398 reached on Feb. 21, according to data source Arbiscan. The Ethereum mainnet processed around 1.08 million transactions.

Arbitrum's tally has increased by over 50% since it announced the token airdrop a week ago. The leading scaling project has found more than 400,000 new users in two weeks, taking the cumulative user base to over 3 million.

Chart

The number of new users and active addresses has surged in the lead up to the token airdrop (Dune Analytics)

About 625,000 wallets are eligible for the airdrop or free distribution of just over 1 billion ARB tokens later Thursday.

"Arbitrum is decentralizing by launching its governance token ARB to transition towards self-executing DAO governance," Delphi Digital said in a tweet thread. "12.75% of its supply or 1.275 billion tokens will be distributed to Arbitrum community members and DAOs in the Arbitrum ecosystem."

Airdrops involving the distribution of free tokens to the community are a common way of boosting adoption. ARB's total supply will be fixed at 10 billion.

At press time, betting in the IOU (i owe you) markets tied to ARB suggested the token would trade at around $6 after the airdrop. IOUs are tokens representing a debt between two parties.

Author

CoinDesk Analysis Team

CoinDesk is the media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system.

More from CoinDesk Analysis Team
Share:

Editor's Picks

Solana strikes key resistance with double-digit gains

Solana trades at $88 at press time on Thursday, after an 11% upswing the previous day within a broader consolidation range of roughly three weeks. Institutional demand for Solana heightens as US spot SOL Exchange Traded Funds record $30 million of inflow on Wednesday.

Stellar relief bounce fades as bearish undertone persists

Cardano price steadies at $0.29 on Thursday after surging over 14% in the previous day. Improving on-chain and derivatives data support a positive outlook as whale wallets are increasing exposure alongside positive funding rates.

Top Crypto Gainers: Polkadot, Near Protocol, Uniswap lead market rebound

Altcoins, such as Polkadot, Near Protoco, and Uniswap, are leading gains over the last 24 hours as Bitcoin jumped 6% on Wednesday. The altcoins are holding steady on Thursday following a rebound the previous day, testing the waters around their 50-day EMA. 

Cardano steadies as whales accumulate and bullish sentiment grows

Cardano price steadies at $0.29 on Thursday after surging over 14% in the previous day. Improving on-chain and derivatives data support a positive outlook as whale wallets are increasing exposure alongside positive funding rates.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: No recovery in sight

Bitcoin (BTC) price continues to trade within a range-bound zone, hovering around $67,000 at the time of writing on Friday, and falling slightly so far this week, with no signs of recovery.