Arbitrum Surges to 140 TPS, Collects $3.4M in Fees, Sets Record High Net Profit Amid LayerZero Airdrop

Jun 21, 2024, 02:33 AM

Arbitrum experienced a significant surge in usage due to the LayerZero airdrop, with over 165,000 claims processed in 2.5 hours, resulting in a transaction rate of 140 transactions per second (TPS). This activity generated substantial revenue for the network, with Arbitrum collecting approximately $3.4 million in fees in a single day. The congestion caused by the airdrop led to increased gas fees, contributing to a record high net profit of $3.29 million. Despite the high transaction rate, it did not surpass Arbitrum's all-time high of over 500 TPS. Arbitrum continued to process over 50 transactions per second, raising speculation about a new daily average TPS record, surpassing the previous record of 59 TPS set in December.