Arbitrum surpasses $150 billion in total transaction volume on Uniswap

Ethereum Layer 2 protocol Arbitrum surpassed $150 billion in transaction volume on the decentralized exchange Uniswap. 

Arbitrum is the first Layer 2 to pass the threshold on the DEX, Uniswap Labs wrote in a social media post on Monday. As of early May, Arbitrum's cumulative swap volume hit $150.2 billion.

Blockchain data tracker DeFiLlama shows Arbitrum's total value locked (TVL) as $2.64 billion, making it the largest Layer 2 by TVL and the fifth largest protocol by TVL behind the Layer 1s Solana, BSC, Tron and Ethereum.

The protocol's native token, ARB, changed hands at $1.07 at 12:45 p.m. ET (16:45 UTC) on May 6 after seeing a 2% decrease of $0.022 in the past 24 hours, according to The Block price page for ARB . 

Arbitrum's core contributor, Offchain Labs, released the Layer 2's most recent upgrade, called Atlas, in March of this year. The upgrade added block transaction support to help lower Ethereum Layer 2 transaction costs, The Block previously reported. 

Uniswap is the largest decentralized exchange by TVL, maintaining $5.54 billion as of May 6, DeFiLlama data shows.