• The angel investor is bullish on ARB, making it the most important a part of his portfolio.
• ARB elevated its TVL dominance by 5.56x and knocked down Ethereum’s L1.
• There isn’t any rapid promoting strain on ARB tokens for the reason that group unlock is in 2024.

Ethereum (ETH) blockchain layer 2 scaling resolution Arbitrum, which lately launched its native token, ARB, caught the attention of an angel investor, Mc Kenna, who lately introduced that ARB tokens at the moment are a very powerful a part of its crypto portfolio.

Kenna, the previous head of analysis at Rok Capital, is especially optimistic about Arbitrum as it’s shortly changing into the de facto selection for DeFi tasks, with the best complete worth locked (TVL), variety of day by day transactions and customers.

Moreover, Kenna pointed to a number of components driving Arbitrum’s development, reminiscent of elevated community exercise, ecosystem development, and unlocking and not using a group till 2024.

In January 2022, ETH, ARB and Optimism (OP) had 56.91%, 0.91% and 0.18% of the entire TVL respectively. Whereas the determine for Ethereum remained comparatively the identical, present knowledge exhibits that ARB has elevated its TVL dominance by 5.56x.

For the reason that begin of 2023, the variety of 7-day rolling trades on Arbitrum has elevated from 222.7k to 1.45 million, with lively addresses rising from 35.5k to 307k. On the identical time, Arbitrum has overturned Ethereum’s Layer 1 transaction rely and continues to carry the higher hand.

The crypto investor additionally highlighted the highest ten protocols on ARB by TVL, with probably the most gas-consuming entities being Beneficial properties Community (GMX), Uniswap (UNI), Rari Capital (RDNT), and Stake DAO (STG).

Kenna additionally in contrast Arbitrum’s unlock occasions to different channels. He mentioned there isn’t any rapid strain to promote the ARB tokens because the investor and group unlock for Arbitrum will arrive on March 23, 2024.