Arbitrum Surpasses $150 Billion in Transactions on Uniswap

According to PANews, Ethereum's Layer2 protocol, Arbitrum, has exceeded $150 billion in transaction volume on the decentralized exchange platform Uniswap. Uniswap Labs announced on Monday that Arbitrum is the first Layer2 protocol to break this threshold on a decentralized exchange (DEX). As of the beginning of May, Arbitrum's cumulative transaction volume had reached $150.2 billion. Blockchain data tracker DeFiLlama shows that the total value locked (TVL) in the Arbitrum network is $26.4 billion, making it the largest Layer2 protocol by TVL. It also ranks as the fifth largest protocol, only behind Layer 1 protocols Solana, BSC, Tron, and Ethereum. The data indicates that Uniswap is the largest decentralized exchange by TVL. As of May 6, its TVL stood at $55.4 billion.