Decentralized exchanges (DEX) transaction volume on Arbitrum<\/a>, a layer2 network, surpassed that of Ethereum<\/a> for the first time during the past day, according to DeFillama data<\/a>.<\/p>\n During the reporting period, DEXs on Arbitrum saw their volume soar to $1.843 billion, surpassing Ethereum\u2019s $1.444 billion and Solana\u2019s<\/a> $683.59 million.<\/p>\n This surge aligns with Arbitrum\u2019s continuous weekly growth, rising by 32.58% to $6.804 billion, a new all-time high, though still trailing Ethereum\u2019s $9.581 billion. However, it surpasses Solana\u2019s $5.039 billion and notably exceeds Binance Smart Chain\u2019s daily volume by nearly fourfold.<\/p>\n The rising DEX volume also coincided with high-network activity on the layer2 network. During the past day, Arbitrum\u2019s daily transaction per second stood at 14.05, while Ethereum mainnet\u2019s was 12.92, according to L2beat data<\/a>.<\/p>\n The increased trading volume can be attributed to heightened activity on Arbitrum\u2019s DEXs like\u00a0 Uniswap<\/a>, Camelot, Ramses Exchange, and Trader Joe. Data<\/a> from DeFillama shows that these protocols have enjoyed double-digit growth to new highs during the past week.<\/p>\n Uniswap Labs<\/a>, the developers of the popular decentralized trading protocol Uniswap, revealed<\/a> that Arbitrum became the first layer2 network to cross a billion in daily volume on the platform on Jan. 4.<\/p>\n Uniswap is the largest DEX protocol by trading volume across all chains, with an average volume of more than $1.5 billion during the past week.<\/p>\n The rising DEX volume has also coincided with a sharp increase in the total value of assets locked on the Ethereum-based layer2 network.<\/p>\nUniswap dominates<\/h2>\n
![\"Abritrum](\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-05-141403.jpg\")
Arbitrum\u2019s rising TVL<\/h2>\n