Nansen Reveals Arbitrum One Transaction Data, GMX Tops the List

03/18/2023 05:59 • Metaverse Matters • 168 views

On March 18, a blockchain analysis company, Nansen, released the on-chain contract log and intraentity transaction share data since the establishment of Arbitrum One. It was shown that GMX accounted for approximately 22% of the total transactions, ranking the first, with Treature (19%), SushiSwap (9%), Uniswap (6%), and Hop Protocol (5%) ranking the second to fifth. Nansen clarified that regarding ARB airdrops allocated to the community, the on-chain contract log and intra-entity transaction share are only one of many indicators related to the activities of DAO on the Arbitrum chain, and are not the only input points for ARB token airdrops allocation.

Nansen: Since the establishment of Arbitrum One, GMX has had the highest share of contract logs and intra entity transactions of approximately 22%

Analysis based on this information:

Blockchain analysis company, Nansen, recently released transaction data of the on-chain contract log and intraentity transactions since the inception of Arbitrum One. According to the data, GMX captured the top position with approximately 22% of total transactions, and other platforms such as Treature, SushiSwap, Uniswap, and Hop Protocol followed closely behind. Despite this, Nansen clarified that the data is not the only determinant for the allocation of ARB token airdrops and is only one of many indicators.

The provided information demonstrates the amount of activity that has occurred on the Arbitrum One ecosystem since its establishment. GMX, which is a game-changing token, accounts for the majority of the transactions. The second and third positions are captured by decentralized platforms, Treature and SushiSwap, respectively. Meanwhile, Uniswap, and Hop Protocol, ranked fourth and fifth, respectively. The data highlights the significance of Arbitrum One in the large-scale adoption of decentralized finance (DeFi) platforms as the top five platforms are all DeFi-related.

However, the company urged caution in interpreting the data. Nansen clarified that the data provided is not the only point of input for determining ARB token airdrop allocations. While the data provides some insight into on-chain activities, there are other factors that should be considered, such as community involvement, quality of governance, and non-monetary contributions.

In conclusion, the data provided by Nansen provides a snapshot of the transactional activities on the Arbitrum One ecosystem. It is fascinating to observe the number of transactions processed, with GMX topping the list. The data signifies the importance of the Arbitrum One ecosystem and its role in the DeFi industry. However, Nansen’s clarification on the use of the data highlights the need to consider multiple indicators in determining ARB token airdrops allocations.

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