Camelot, a decentralized exchange (DEX) built on Arbitrum, has surpassed $100 million in total value locked (TVL) ahead of the anticipated Arbitrum token airdrop scheduled for Thursday.
The TVL has grown by more than 50% in the past week, according to data from TVL aggregator DefiLlama. The surge in users has also led to an all-time high of $47 million in 24-hour trading volume for Camelot on Saturday. In addition, Camelot's native token $GRAIL has increased by 113% in the past seven days.
The DEX's growth is attributed to the excitement surrounding the $ARB token airdrop, with expectations that it will be listed on Camelot's liquidity pools for trading and depositing. Wrapped ether (wETH), USD coin ($USDC), and $GRAIL are the three most liquid tokens on Camelot, making up 64% of TVL.
TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email email@example.com. Your trust will be well respected.