ARB’s latest jump follows a recent boost after an airdrop on 23 March, as well as the Ethereum Shanghai (Shapella) Upgrade on 12 April.
It’s also been revealed that new accounts have reached nearly five million on April 17, according to data compiled by user Henrystats on Dune Analytics. It’s believed that nearly 200 million transactions have since been completed.
ARB is the fourth-largest DeFi blockchain, with $2.31billion in total locked value (TVL), according to data from DefiLlama.
At the time of writing, ARB was up 12.11%% in the last 24 hours at $1.79. The token is up 45% in the past seven days.
It is currently ranked at number 31 on CoinMarketCap, with a total market cap of $2.2billion.