Arbitrum: Here’s why bulls may have their eyes fixed on the L2 ecosystem

ambcrypto.com:

Layer-two protocol (L2) Arbitrum has been one of the eye-catching revelations of the crypto ecosystem despite the turbulence that hit the market in 2022.

While it may have gained the attention of many investors, the Ethereum [ETH] -scaling solution was almost always at loggerheads with its competitor Optimism [OP] .

However, Arbitrum seems to be winning the race due to its position as per Total Value Locked (TVL). The TVL simply represents the number of assets being staked in a protocol.

At press time, the Aritbrum TVL was $1.95 billion. This ensured that the protocol was fourth on the list behind Ethereum, Tron [TRX] , and the Binance Smart Chain.

Source: DeFi Llama

But a notable stride with the Arbitrum TVL is how it has outperformed every other chain in the DeFi space. According to DeFi Llama , the optimistic rollup scaling solution had gained 44.95% in the last 30 days. This implied that there had been more unique deposits into Arbtirum than any other protocol.

This noteworthy improvement could also have been vital to the reception tokens under the Arintrum ecosystem have received. And this is not just limited to retail investors.

According to Lookonchain, a whale accumulated Gains Network [GNS] , and Genaro Network [GNX].

The whale is bullish on the #Arbitrum ecosystem and bullish on decentralized #derivatives projects.https://t.co/m1FxWtrt9y pic.twitter.com/HCMmzQymDV

— Lookonchain (@lookonchain) March 6, 2023

An action like this suggests that the whales trust the Arbitrum ecosystem strides to drive the tokens to greens.  Also, both tokens have