- Aave grew on Ethereum, but fell on the Arbitrum network.
- Arbitrum’s TVL witnessed growth, and the number of transactions on the protocol rose
New data has been released Dune AnalyticsAave [AAVE] Arbitrum users experienced significant growth. Arbitrum has seen a rapid increase in users who have switched to it. This indicates that L2 adoption is rapidly increasing.
Read Aave’s [AAVE] Prediction of Price 2023-2024
Arbitrum has been a significant layer 2 solution and has been contributing to the sector’s growth. IThe TVL has seen a tremendous increase over the past weeks. It now stands at 1.08 Billion at the time of writing, after having appreciated by 1.24% within the last 24 hours.
However, despite the TVL growth, Arbitrum’s activity and TPS were unable to rise. According to data from, the latter fell by 26.78%. L2beats.
Regardless of the momentary decline in Arbitrum’s TPS, the number of transactions on the protocol grew significantly since September. Although there was some volatility in the number transactions, overall the number transactions moved in a positive direction.
According to a report by, the number and unique users of the L2 protocol increased from 1.75 million to 12.16 millions in the past month. Arbiscan.
Ethereum: State of Aave
The growing presence of Aave on Arbitrum had a correspondingly negative impact on Aave’s presence on the Ethereum [ETH] network.
The volume of Aave on Ethereum has dropped rapidly, as you can see from the below image. Aave was also losing interest by large addresses. The declining number of top addresses was a sign of this decline. AAVE You can find the network here.
Aave’s network growth decreased as well, thus, signifying that the number of new users transferring The coin for the first time on Ethereum’s network shrank.
It remains to see if the growth of Aave The Arbitrum network indicates a greater shift towards L2 networks.
As of the date of writing AAVE According to, it was trading at $61.52, CoinMarketCap.