Arbitrum Leads Stablecoin DEX Volume Growth
Layer-2 networks saw stablecoin trading expand over one week, with Arbitrum adding the most activity.
Updated on Nov. 10, 2026 in Economic Indicators
Arbitrum added $64.2 million in stablecoin DEX volume over one week, ahead of Arc, Ink, and Tempo. The network also hosts NullMask, a privacy protocol that went live recently.
Why it matters
The growth points to rising stablecoin trading activity across several layer-2 networks in a single week. NullMask's launch adds a privacy option that hides transaction details from public block explorers.
Arbitrum added $64.2 million in stablecoin DEX volume in one week, while Arc added $11.8 million and Ink $4.2 million. These figures measure weekly growth rather than total volume, and the source does not indicate whether the pace will hold.
The players
Arbitrum
Arbitrum is a layer-2 scaling network built on Ethereum that processes transactions off the main chain to reduce fees.
NullMask
NullMask is a privacy protocol that hides transaction details from public block explorers on the networks where it operates.
The details
NullMask, a privacy protocol, is now live on Arbitrum and lets users send, swap, deposit, withdraw and check balances without public transaction details. The growth figures come from one week of stablecoin trading data across the networks listed.
Timeline
November 8: ARB dipped to about $0.160.
November 9: ARB rose to $0.188 by the afternoon.
November 10: ARB was trading near $0.1795 at press time.
Market Landscape
Stablecoin trading is increasingly concentrated on Ethereum layer-2 networks rather than the main chain. Arbitrum's lead over Arc, Ink and Tempo shows competition among these networks for trading activity.
Traders moving stablecoins on Arbitrum may see different fee and privacy options as NullMask adds transaction privacy. Price moves in ARB, which rose from $0.160 to $0.188 before settling near $0.1795, show the token's volatility for anyone holding it.
The takeaway
Watch whether stablecoin growth on layer-2 networks persists beyond a single week before drawing conclusions about lasting shifts in trading activity. Privacy features like NullMask may draw more users to these networks over time.
Further reading
Track more market measures in the Economic Indicators section.
