Important development in Arbitrum (ARB): How does it affect the price?

Due to the allegations of ZRO, Arbitrum (ARB)'s revenue on June 20th amounted to $3.38 million, making it the highest day so far.

The LayerZero airdrop temporarily increased the number of messages sent across the cross-chain communication network as users claimed their ZRO. The airdrop has been widely discussed due to the sybil prevention used in determining allocations and the requirement to donate 0.10d dollars to the Protocol Guild for claiming each token.

Although the launch of ZRO token and the announcement of the airdrop snapshot did not seem to help LayerZero network recover from the decline in activity, a different protocol was able to profit from it.

LayerZero and ARB continue to be on the agenda

On June 20, when Arbitrum started accepting ZRO airdrop requests, it generated a revenue of 3.38 million dollars. This was the highest revenue day so far, in sharp contrast to the typical tens of thousands of dollars earned after Dencun’s network.

As a reminder, the income generated by Ethereum Layer 2s is the amount of fees paid on these networks. Due to users paying lower fees, a decrease in income has been observed in many settlements after the Dencun, but as the cost of publishing data on the Ethereum main network has significantly decreased, profits have increased for many scaling solutions.

The fact that Arbitrum is experiencing such high fees is an indication of the high demand for Arbitrum block space, as users are willing to pay high fees to execute their transactions on the network.

Given that Arbitrum is the coordination chain for the LayerZero token demand contract, this makes sense. This means that requests can be processed atomically in Arbitrum, while other networks that can make requests needed to use an interchain message in the LayerZero network to facilitate the request.

This article does not contain investment advice or recommendation. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.