Arbitrum Shatters Records: Hits $1 Billion in Daily Trading Volume For the First Time
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The most recent surge took place after prominent banks such as Silicon Valley Bank and SilverGate Bank collapsed on March 8 and March 10, respectively. This led to the depeg of stablecoin USDC to $0.87.
During this period, Decentralized Exchanges (DEXs) on Arbitrum, like Uniswap, SushiSwap, Camelot, GMX, and Curve, saw an upsurge in volume as users sought to swap USDC for other cryptocurrencies. Over the 24 hours between Saturday and Sunday, UniSwap processed nearly $11.84 billion in trading volume, including $582.82 million on Arbitrum.
Further, Curve recorded close to $8 billion in trading volume and registered $118.73 million on Arbitrum. As for GMX, it recorded a volume of 32.38 million on March 11 on Arbitrum.
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