The number of accounts or wallet addresses for ethereum layer 2 scaling solution Arbitrum (ARB) surpassed 5 million on April 17, according to statistics compiled by user Henrystats on Dune Analytics. In addition to individual addresses, there are now more than 4 million accounts active in the ARB ecosystem, and nearly 200 million transactions have been completed since its inception.
The back-end growth comes on the back-end of Arbitrum's busy development cycle and the hype surrounding its March 23 airdrop, which distributed 1.275 billion ARB tokens to a total of 625,143 eligible addresses. After the last ARB airdrop, the number of reached accounts 3.4 million.
The day after the airdrop, Cointelegraph reported some evidence of consolidation activity, as two personal accounts appeared to consolidate tokens from nearly 1,500 different addresses.
“According to blockchain analytics platform Lookonchain, one wallet received 1.4 million ARBs from 866 addresses. … Another wallet received 933,375 ARBs from 630 addresses, worth about $1.38 million.” On April 15, the Arbitrum million reance to DAO's proposals kens to its Treasury was massively rejected. As previously reported by Cointelegraph: “The proposal was rejected by 118 million votes, or 84% of the total votes received, while 21 million ARB tokens voted in favor of the proposal, or nearly 14.5% of the total. About 2 million ARB token abstention."
While the massive growth has pushed Arbitrum accounts past 5 million, weekly user activity appears to have dropped significantly to around 333,000 users since a March 20 high of 1.38 million, a figure more consistent with Arbitrum's pre-airdrop activity 83% AR. had at least one transaction, extrapolating the data further tells the rest, according to Dune Analytics. Of the more than 5 million Arbitrum accounts, 24.2% had only one transaction, which may indicate a group of users who sold their ARB immediately after receiving the airdrop.
