Arbitrum, an Ethereum Layer 2 network, has reached a significant milestone by surpassing $150 billion in transaction volume on the decentralized exchange Uniswap. This achievement establishes Arbitrum as the first network of its kind to cross this threshold on a DEX platform. Developers from Uniswap Labs confirmed that as of May 6, 2024, the total transaction volume amounted to $150.2 billion.

Data from DeFiLlama shows that the total value locked (TVL) in Arbitrum has reached $2.64 billion, making it the largest Layer 2 protocol by this metric and the fifth largest among all blockchains, trailing only giants such as Solana, BSC, Tron, and Ethereum. According to L2Beat, various Arbitrum One protocols collectively have $16.21 billion in digital assets frozen, the best result among second-level networks.

The native ARB token did not show significant price changes in response to this news, falling by 0.55% over the last 24 hours. The token's price is $1.07, and its market capitalization has reached $2.83 billion, with a trading volume of $368.92 million over the past day.

In March of this year, developers from Offchain Labs released the latest network update named Atlas, which included support for block transactions to speed up transfer confirmations and reduce fees in Ethereum Layer 2.

Uniswap remains the largest and most popular decentralized exchange in the world, leading in TVL in its sector. The total value locked of all assets on the platform amounts to $5.54 billion. Recent expert evaluations confirm that Uniswap is the leading platform in its class by a variety of parameters, including liquidity, security, and regulatory compliance.