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The Arbitrum ecosystem, over the past couple of days, has been making huge waves in the crypto market space. The Layer 2 solutions platform is specially designed to improve the speed and scalability of ETH-based smart contracts.
This article covers in-depth details of three of the top movers of the Arbitrum ecosystem. Providing readers important details about them, their activities, etc. The tokens standing as some of the top movers in the Arbitrum Ecosystem include rDPX, NYAN, and TNGL.
1. Dopex Rebate Token (rDPX)
The Dopex Rebate token (rDPX) is mostly minted and distributed to cover up for losses incurred by pool participants. The net losses incurred at the end of a pool’s epoch are used to determine the amount of rDPX tokens to be minted. As a result of this, the Dopex Rebate token has no cap supply. Instead, it boasts of special infrastructures that help prevent the token from being valueless.
According to CoinGecko, the Dopex Rebate Token is one of the top movers of the entire Arbitrum ecosystem over the last seven days. At the time of writing, the token was trading at $297.08 with a 24-hour trading volume of $11,767,668. The token also has a circulating supply of 778,000 RDPX coins and a total supply of 2.1 million. Also, it is up by 15.9% in the last 24 hours.
2. ArbiNYAN (NYAN) Coin
Next on the list of top movers in the Arbitrum ecosystem is the ArbiNYAN coin. ArbiNYAN is the first fair token to go live on Arbitrum. And is popularly known as a fun cat token. Also, 95% of the token supply is distributed as farming rewards.
At the time of writing, the token was trading at $0.01461520 with a 24-hour trading volume of $1,190. The token price is up by 0.1% in the last 24 hours and also has a total supply of 100 million.
3. Tangle Coin (TNGL)
Last on my list of top movers in the Arbitrum ecosystem is the experimental token known as Tangle. Tangle is known for its ability to reward active members of its ecosystem. Especially those who help increase awareness and the attractiveness of the token.
At the time of writing, Tangle was trading at $0.00016458 with a 24-hour trading volume of $1,480. The token is up by 2% in the last 24 hours and also has a total supply of 1 billion TNGL tokens.
About Arbitrum
Arbitrum, simply put, was specially designed to help fix some of Ethereum’s scalability issues. The platform also makes it possible for developers to easily operate EVM contracts and ETH transactions on Layer 2. While still enjoying the benefits embedded in Ethereum and its top-notch Layer 1 security.
Arbitrum makes use of rollups and then executes transactions on other more scalable L-2 sidechains. This entire process helps redirect the computational burden from the Ethereum chain.