The total number of Arbitrum on-chain accounts exceeded 3 million, with active accounts accounting for about 78.1%

According to the data of Dune Analytics on February 27, the total number of Arbitrum on-chain accounts has exceeded 3 million, reaching 3.04 million so far, of which the number of active accounts is 2.347 million, accounting for about 78.1%. In addition, at present, the total number of smart contracts created by Arbitrum has reached 1580279, and the total value of locks on the chain has reached $4.424 billion, of which the value of ETH locks is about $1.192 billion, accounting for about 27%.

Interpretation of this information:

The message reveals the latest updates on the growth and usage of Arbitrum, a blockchain infrastructure that enables faster and cheaper transactions. According to Dune Analytics data, the total number of Arbitrum on-chain accounts has surpassed 3 million, including 2.347 million active accounts, which indicates high user engagement. Moreover, the total number of smart contracts on Arbitrum has reached 1580279, demonstrating the platform’s widespread use case for decentralized applications. In terms of the value of locks, the total value of locks on the chain has reached $4.424 billion, of which the value of ETH locks accounts for about 27%, indicating that many users are using Arbitrum to trade in ETH.

This data indicates that Arbitrum has gained significant traction among crypto users, with a large proportion of them being active users. The platform’s ease of use and low transaction costs have likely contributed to its popularity, as it allows users to participate in blockchain-based activities without experiencing high fees or long transaction times. Furthermore, the large number of smart contracts created on Arbitrum also implies that the platform has a strong ecosystem of developers who are building decentralized applications and services that are in demand.

The value of locks on the chain is also noteworthy, as it suggests that users are holding significant amounts of cryptocurrency on Arbitrum, which demonstrates trust in the platform’s security and reliability. Moreover, the high number of ETH locks indicates that many users are trading in ETH using Arbitrum, possibly due to the platform’s cost-effectiveness and faster transaction processing compared to other blockchain infrastructures.

In summary, the message indicates that Arbitrum is rapidly becoming a popular choice among crypto users, with millions of on-chain accounts and high user engagement. The large number of smart contracts and the value of locks on the chain demonstrate that Arbitrum has a strong developer ecosystem and user base that is actively using the platform for decentralized applications and trading in cryptocurrencies.