Arbitrum, an ETH layer-2 network, has recently seen a surge in transaction volume as speculation about a potential airdrop increase. Airdrop seekers have flocked to the Arbitrum layer-2 network, hoping to bag some free crypto.
Delphi Digital, a crypto research organization, observed a surge in activity on Arbitrum on November 2. According to the report, 62% of this week’s Ethereum transactions took place on Arbitrum, representing a 550% increase since August.
It also stated that weekly active users on the Off-chain Labs’ platform increased in October. According to the company, weekly active users have increased 125% since October 10 to a new all-time high of 282,000.
“A major portion of the activity is most likely from speculators attempting to increase their on-chain activity in the hopes of receiving a greater airdrop.” Off-chain Labs co-founder Steven Goldfeder hinted at an airdrop earlier this year, saying, “The appetizers are always served before the main course.”
According to L2beat, transactions on the optimistic roll-up layer-2 scaling network have more than doubled since mid-October. It reports that 8.1 million transactions had occurred on the last day.
Arbitrum also has a total value locked of £2.32 billion, giving them a commanding 51% market dominance. Furthermore, the TVL statistic has risen in the last two weeks, lending credence to the notion that it is a primarily fictitious activity by airdrop hunters.
Arbitrum’s Nitro upgrade was released at the end of August, resulting in considerably faster and cheaper L2 Ethereum transactions. This has also aided the rise in transaction volumes and TVL. Miles Deutscher, an analyst, and airdrop hunter, posted a thread last week about enhancing your odds of receiving free tokens from the platform.
“The Arbitrum token (and airdrop) will be available sooner than we believe.” Optimism earned someone between £8948.00 and £44740.00. Arbitrum follows.” Some recommendations included bridging some assets to Arbitrum, interfacing with DApps, and purchasing a cheap NFT on the platform. Optimism announced its OP token airdrop in April, but the tokens were quickly dumped on the market.
The zkSync is another layer-2 network that could potentially airdrop. The zero-knowledge roll-up platform has announced version 2.0 of its testnet, including zkEVM, allowing Ethereum developers to port directly to layer 2.
Because there is no native token yet, there have been hints of an airdrop, but the developers have revealed nothing concrete. With a total value of £55.20 million, zkSync is the fifth-largest L2 platform.