Stablecoin issuers flock to Arbitrum as Token Terminal’s report reveals a surge in activity. The L2 landscape evolves, but user numbers remain steady.The data revealed that stablecoin issuers claimed the top position, boasting an impressive 229,000 active users. Following closely were exchange bridges, securing the second and third positions in the rankings.unveiled a recent, noteworthy uptrend. Over the past week, the chart displayed a discernible surge in the stablecoin market cap.
At the time of this update, the stablecoin market cap surpassed an impressive $1.7 billion. The upswing commenced around 23 October. Before then, the market cap was approximately $1.6 billion.However, this uptrend in market cap did not translate into a significant increase in daily user numbers on Arbitrum. The user chart illustrated a consistent number of general users.
Around 105,000 users at the time of this report. However, what stood out was the absence of new users. What this indicated was limited or no influx of fresh participants into the network.Arbitrum’s daily timeframe chart paints an encouraging picture of its recent price performance. The price range indicator reveals a remarkable uptrend, with a surge of over 20% over the past 12 days.climbed from the $0.8 price range to a respectable $0.9.
Source: News Formal (newsformal.com)
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