June 23 (Cointime) - GMX, a decentralized exchange (DEX) on the Arbitrum protocol, has seen a significant increase in volume, with a 162.4% surge over the past month. This growth in trading activity has contributed to the rise of Total Value Locked (TVL) on Arbitrum, reaching $2.12 billion.

Despite a 5% decline in overall activity on the protocol, revenue generated by the platform has continued to rise, indicating potential for monetization. The upcoming implementation of Ethereum's EIP 4844 is expected to further increase revenue generation on Arbitrum by reducing transaction costs on Layer 2 networks.