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  • Arbitrum has risen above Polygon to turn out to be essentially the most dominant L2.
  • MATIC has dropped beneath $1 whereas ARB has maintained it.

Polygon [MATIC] was as soon as thought of some of the, if not essentially the most, widespread Layer 2 (L2) networks. Nonetheless, in current instances, just lately launched L2 community Arbitrum [ARB] has gained vital prominence.

How does Arbitrum examine to Polygon?

Evaluating the amount and TVL of Polygon and Arbitrum

An evaluation of Polygon’s quantity trajectory on DefiLlama indicated an uptrend at press time. In the direction of the tip of December, it reached its second-highest quantity of the 12 months, roughly $435 million.

2023’s peak quantity occurred in March, reaching round $669 million. Notably, Polygon’s quantity surpassed $1 billion solely as soon as in 2021, exceeding $2 billion. As of this writing, its quantity was round $106 million.

Supply: DefiLlama

Inspecting the Whole Worth Locked (TVL), there was an total decline for Polygon in current weeks, with the TVL at round $845 million at current. Conversely, Arbitrum’s TVL was over $2 billion, displaying an upward development up to now few weeks.

Within the final 24 hours, Arbitrum’s quantity was over $405 million. Notably, within the new 12 months, Arbitrum’s quantity has surpassed $1.8 billion twice.

Arbitrum TVL and Volume

Supply: Defillama

The L2 dialog 

In response to information analyzed by AMBCrypto through L2 Beats, Arbitrum stood as essentially the most dominant Layer 2 (L2) community at press time.

Throughout this time, Arbitrum commanded almost 50% of the market share, boasting a complete worth locked (TVL) of over $9.8 billion.

In stark distinction, Polygon ranked twelfth with a relatively modest $111 million, holding lower than 1% of the market share.

This information underscored a big shift within the L2 panorama, signaling that different networks have moved previous Polygon.

Not solely had been these various L2 networks producing increased volumes, however they had been additionally attracting a bigger person base, as indicated by their rising market shares.

MATIC follows market tendencies as ARB detaches

AMBCrypto’s examination of Polygon’s every day timeframe chart confirmed the affect of the current market motion on its worth.

On the third of January, Polygon skilled a big worth crash of round 11.8%, and since then, it has struggled to recuperate. Earlier than the crash, its buying and selling worth was round $1, however as of this writing, it has declined to round $0.8.

MATIC/USD price trend

Supply: Buying and selling View

Lifelike or not, right here’s ARB’s market cap in MATIC’s phrases

In distinction, Arbitrum demonstrated a unique development through the market crash. Regardless of the broader market downturn, Arbitrum gained over 8%. Nonetheless, it confronted a decline just lately, dropping over 2% and greater than 10% on the fifth of January.

As of this writing, it was displaying a acquire of just about 5%, with a buying and selling worth of round $1.8.

ARB/USD price trend

Supply: Buying and selling View

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