In February, the rumors that Arbitrum might issue coins sparked the passion of the whole crypto market. In light of the huge windfalls during the Optimism airdrop, investors are even more excited by the potential coin offering and airdrop of Arbitrum, the No.1 L2 project by TVL. That said, it remains unknown as to whether there will be an Arbitrum coin, when it will be offered, and how many coins will be offered. Today, let’s talk about Arbitrum, as well as other potential profit opportunities.
According to L2beat, as a much-anticipated Ethereum scaling solution, Arbitrum will soon take up 50% of the total TVL of the entire L2 market, all thanks to its amazing ecosystem.
Source: L2beat
Moreover, data from DefiLlama shows that the trading volume of DEXs on Arbitrum has been on the rise since 2023 kicked off.
Source: DefiLlama
Many Arbitrum-based projects have been doing very well since last year. Of the projects, TreasureDAO, which was launched in August 2021, has recorded impressive performance. As a metaverse platform, TreasureDAO features games provided by the Magic community and is noted as a “decentralized Nintendo” among investors. As the project continued to capture the market spotlight in 2022 despite the crypto bear, its GameFi+DAO mechanism offers ample room for imagination and creativity. Besides, according to the world-renowned crypto exchange CoinEx, the Magic price has surged by 252.86% in the past month.
Source: CoinEx
Apart from that, Arbitrum also launched GMX, the ace crypto product of 2022, in DeFi. Using a dual-token model, GMX taps into AMM to implement margin trading. With GMX, all trades are a zero-sum game, and users no longer have to worry about slippage or efficiency. Following the boom of GMX, many copycats have emerged, some of which have delivered handsome returns. It should be noted, however, that these projects are subject to audit risks, so we must remain prudent.
By 2023, Arbitrum has continued to soar, with omnichain lending protocol Radiant surging in TVL. Figures from DefiLlama indicate that Radiant’s TVL was up 181% in the past month, which is the second-largest TVL growth record among DeFi projects on Arbitrum. On the other hand, Radiant’s native token RDNT has also registered exponential growth. Plus, RDNT is not yet listed on the three major exchanges, which is a great positive for the future development of the token. It is noteworthy that CoinEx, a top crypto exchange, has listed RDNT, and investors interested in the token can check it out at https://www.coinex.com/info/RDNT.
By late January, DeFi projects including Zyberswap appeared in the Arbitrum ecosystem. On February 8, Zyberswap’s token ZYB was listed on a number of CEXs, and its price soared by 100% in just 24 hours. Furthermore, the project also provides appealing returns that remind investors of the beginning of a crypto bull.
Source: Zyberswap
Apart from these four trending projects, the Arbitrum ecosystem also features Hashflow, a decentralized cross-chain spot trading platform that supports mining on Binance Launchpad, as well as Dopex, a decentralized options exchange. These are all projects that have already offered tokens. Next, let’s take a look at Arbitrum projects that have not yet issued coins.
On Arbitrum, plenty of projects are without coins, including fixed-rate lending protocol Yield Protocol, cross-chain bridge aggregation protocol LiFi Protocol, DeFi infrastructure Composable Finance, cross-chain interoperability and liquidity transfer protocol DeBridge, cross-chain bridge aggregator Bungee, decentralized voting platform Snapshot, and many others. Still, we must stay vigilant and always refer to the official website of the target project before making any investment.
Tokens issued on Arbitrum are still on the rise, which might have already sent the project’s market cap to $100 billion. In our previous article, we mentioned that the crypto market needs a signature event to deliver huge profits and attract funds, and perhaps Arbitrum could copy the DeFi Summer and start another crypto boom.
Many of the tokens discussed above are available on CoinEx, a world-renowned crypto exchange. On CoinEx’s “Market” page, you’ll find a thoughtful tag indicating the “Arbitrum” section, which offers a panoramic overview of the price movements of all tokens within the Arbitrum ecosystem.
Source: CoinEx
As a long-established crypto exchange running for five years, CoinEx has always aimed to provide users with secure, convenient, easy-to-use, and efficient crypto trading services. In 2022, the exchange redefined its brand slogan to “Making Crypto Trading Easier” and introduced new features including Swap and CoinEx Dock.
Over the last few years, CoinEx has listed 600+ cryptos and 1,000+ trading pairs, offering easy-to-use, professional services to over 4 million users across more than 200 countries and regions. We are confident that the exchange will soon break free from traditional financial shackles, make crypto trading easier, and evolve into a major gateway for global crypto enthusiasts to the crypto world.
Disclaimer: No investment advice is provided in this article, and all data mentioned herein are for reference only. You should not rely on the information provided herein to make any investment decision, and you will be fully liable for your own investment decisions.