Identifying the why and how of Arbitrum flipping Ethereum on this front

Arbitrum outperformed Ethereum in terms of daily active addresses for the second time. As far as the TVL is concerned...

The heightened use of the Arbitrum protocol has resulted in a commensurate increase in the total value locked in its smart contracts. Additionally, Artemis’ data indicated that except for Ethereum, the project had exceeded most protocols in this aspect, with its TVL recorded to be $2.2 billion at press time.Although high activity was seen on Arbitrum’s protocol, the same couldn’t be said about its GitHub.

If this trend continues, Arbitrum may take more time than other protocols to introduce new features and upgrades. This would result in Arbitrum losing its prevailing dominance.Despite the larger positive performance of the protocol, the sentiment around ARB has remained negative. Consider this – Santiment’s data indicated that weighted sentiment had massively turned negative over the last few days. Coupled with that, the overall velocity of the ARB token also fell, implying that the frequency with which the token was being traded had fallen.Due to the aforementioned factors, the price of ARB started to plummet on the charts.

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