Arbitrum, one of the leading Ethereum layer-2 solution platforms, has attracted all the attention, surpassing the largest cryptocurrency in the transaction count metric. The increase in the number of transactions led to an increase in fees in the same period.
According to data from blockchain tracker Crypto Fees, the total daily transaction commission on the Arbitrum network reached $800,000, while this figure was limited to just $600,000 in Bitcoin.
In the weekly transaction fee average, Bitcoin ranked fourth with $630,000, while Ethereum topped this metric with $10 million.
The network upgrade called Nitro, implemented in Arbitrum last August, caused it to surpass even the metric leader Ethereum.
The ambitious layer-2 project claims to be able to transfer cryptocurrencies with much lower transaction fees than Ethereum. Currently, the fee for sending Ethereum over the ARB network is around $0.10, while this figure is around $2 for Bitcoin.
ARB Price
Arbitrum's native token ARB faced a sell-off this week along with the overall crypto market.
ARB, which has lost 14% since the beginning of the week, is currently trading around $1.45.