Token Transfers On Arbitrum

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    This dashboard is about token transfers on Arbitrum and how metrics have changed over time. For starters, there are 1,870 unique token contracts on Arbitrum with 1,520 of them being active (used in the last 30 days). This represents a rate of 81.2% for active tokens.

    Next, let’s take a look at what tokens are being frequently transferred on Arbitrum. ETH takes the first place, followed by USDC, USDT, hETH, and MAGIC. We can observe the prevalence of stablecoins here.

    ETH and other stablecoins continue to dominate when you group tokens by the number of unique wallets. Moving on, let’s take a look at the top 5 tokens by frequency over time which includes ETH, USDC, USDT, DAI, and MAGIC.

    ETH has always been the clear winner here but we can see from the period starting late June 2022, that stablecoin transfers were on the rise, especially for USDT. This coincides with the ETH crash which saw holder fleeing to stables.

    Now let’s compare token transfers in Arbitrum to Optimism, and Ethereum to get a feel of how it compares to mainnet and other layer 2s. We can see that Ethereum token transfers has been quite consistent relative to that of Optimism which has been fluctuating. Arbitrum token transfers generally has not measured up to that of Ethereum mainnet and Optimism, except for the spike in late