Offchain Labs, the developer of Arbitrum, has shown confidence in the network by purchasing more ARB tokens amidst a market downturn. The company expressed commitment to expanding the Arbitrum ecosystem and doubling down on development efforts.

Arbitrum is an Ethereum layer-2 scaling solution that utilizes optimistic rollups to enhance transaction speed and reduce fees. Offchain Labs’ increased investment in ARB tokens highlights a focus on network development amid industry concerns about reduced exposure to governance tokens.

ARB’s price has dropped by 77% this year. Arbitrum has achieved significant milestones, processing over 2.1 billion transactions on its primary Ethereum layer-2 rollup and securing $20 billion in total value. Competing with other layer-2 solutions for a share of the DeFi market, Arbitrum remains a leading player in the space.

Read more at Cointelegraph: Offchain Labs Buys More ARB as Arbitrum Hits $20B Milestone