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Arbitrum (ARB) up 8% as It Tops Chart for Total TPS, Here's How Polygon's zkEVM Is Faring

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Wed, 5/04/2023 - 8:21
Arbitrum (ARB) up 8% as It Tops Chart for Total TPS, Here's How Polygon's zkEVM Is Faring
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Arbitrum (ARB) is arguably one of the best Layer 2 protocols on Ethereum, with the highest transaction throughput as measured by Total Transactions Per Second (TPS). According to data from L2Beat, Arbitrum One is at the top of the chart, alongside the main Ethereum protocol, in the TPS ranking.

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Per the data shared, the Arbitrum protocol recorded 14.89 TPS in the past day, surpassing that of Ethereum, pegged at 12.18. The data also revealed that the maximum TPS recorded per day is pegged at 31.64, which surpasses outright the 22.37 for Ethereum. The 30-day count for total transactions was pegged at 30.26 million and fared below that of Ethereum at 31.92 million.

Transaction Per Second
Image Source: L2Beat

Many scaling solutions are making their way to the Ethereum blockchain at the moment and, besides Arbitrum, zkSync Era and Polygon's zkEVM protocol, have also found their way here. However, the data showcased revealed that these alternative protocols have fared poorly in terms of their TPS when compared to Arbitrum.

While zkSync's transaction is pegged at 4.82 in the past day, that of zkEVM was pegged at just 0.07, a figure that highlights how both protocols are still building their momentum.

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Arbitrum price on radar

As a truly high-performing Layer 2 network, Arbitrum's native token ARB has also remained positive on the receiving end of the growing embrace of the protocol. The token is trading at a spot price of $1.266, up by 8.24% at the time of writing.

According to CoinMarketCap's data, Arbitrum has maintained fairly intriguing price action since its launch, attaining both its all-time high and low figures on the same day about 13 days ago. While it is 89% below the $11.80 ATH, ARB is maintaining a steady growth trend that may see it outshine its performance in the mid- to long term.

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