Arbitrum Attracts Over 48% Of Assets From Ethereum: Why Is ARB Down 68% In 7 Months?

ARB, the native token of Arbitrum, the Ethereum layer-2 solution, is down 68% from January 2024 highs. However, there is good news: While ARB holders “suffer” in the face of unrelenting bears, positive on-chain developments reveal a platform that is not only the largest by total value locked (TVL) but also brimming with potential. Over [...]

The post Arbitrum Attracts Over 48% Of Assets From Ethereum: Why Is ARB Down 68% In 7 Months? appeared first on Crypto Breaking News.

View Details

Arbitrum DAO Agrees To Distribute $216 Million In Funding Heres What You Should Know

The Arbitrum Foundation, a Decentralized Autonomous Organization (DAO) tasked with developing and nurturing the Arbitrum ecosystem, has approved the start-up of a support fund aimed at developing projects in its gaming ecosystem. The organization has revealed plans to distribute a whopping $216 million to improve its gaming ecosystem. Arbitrum To Allocate $216 Million For Gaming Proposal The Arbitrum Foundation has officially endorsed a proposal, involving a funding initiative to expand and develop its gaming ecosystem. According to its blog post, the Arbitrum DAO will work towards allocating 225 million ARB tokens, valued at approximately $216 million, to support the growth of gaming projects on the network. Related Reading: Crypto Analyst Gives Reasons Why A Face-Melting Bull Run Is On The Horizon This proposal underwent a formal voting process amongst community members. Of the total voters in the foundation, a staggering 162.41 million voted in favor of the gaming proposal, while 50.48 million opposed it. Additionally, about 44,093 members abstained from voting.  As a result of the overwhelming approval, the Gaming Catalyst Program (GCP) will receive financial support from the Arbitrum Foundation over the course of three years. The program is designed to facilitate and expand awareness and adoption of Arbitrum/Orbit/Stylus by builders and players within the gaming community. Moreover, the Arbitrum Foundation has set its sights on the $250 billion gaming vertical which is projected to double by 2030, reaching a substantial $500 billion market. The organization is positioning itself to capitalize on the markets growth as well as the prevailing trend of integrating blockchain technology with gaming.  In its blog post, the organization revealed plans to recruit top-tier developers to build high-quality and engaging games that will effectively attract and retain the attention of users within the Arbitrum ecosystem. It disclosed that it has emerged as a leader in the competitive gaming market by incorporating a dynamic strategy that combines innovation, strong technological capabilities, organic builders and short and long-term incentives. Moreover, the rapid expansion of Decentralized Finance (DeFi) applications on Arbitrum highlights the platforms ability to attract new developers and users. The foundation has labeled this growth as a snowball effect, emphasizing that when there is an increasing number of builders and users, the Arbitrum DAO continues to add value.  The Goal Of The Gaming Catalyst Program While acknowledging its shortcomings and recognizing its failure to match the performance of competitors such as Immutable X, Ronin, and Solana, the Arbitrum Foundation has also lauded its immense success in the decentralized finance sector. The organization has disclosed that through the Gaming Catalyst Program, it will facilitate the growth of its ecosystem by establishing a dedicated team and funds to provide technical and strategic support to the gaming industry.  Related Reading: Dogecoin Price Prediction: Analyst Forecasts Meteoric 21,700% Rise To $17, Heres When The foundation outlined a list of hypothetical projects in the program that will help develop Arbitrums gaming ecosystem. According to the organization, the Gaming Catalyst Program will provide support and resources for developers interested in building on the network. This will include mentorship, funding, and other assistance to expedite development.  Moreover, the Arbitrum DAO will allocate all resources strategically to maximize efficient usage and impact on the gaming ecosystem. The organization also aims to position itself as an attractive platform that will draw and maintain the best game developers in the industry.  Additionally, the Gaming Catalyst Program will play a major role in expanding new opportunities and use cases for the Arbitrum network. By supporting the development of gaming infrastructure, Arbitrum (ARB) will be able to diversify its ecosystem and extend services to a wider range of users and developers, not limited to Orbit chain and Stylus adoption. Featured image created with Dall.E, chart from Tradingview.com

View Details

Arbitrum (ARB) Poised For Resurgence: Downtrend Reaching Climax?

Generally, the crypto market has been experiencing a pullback after Bitcoin and many other coins like Ethereum have recorded a new all-time high of which Arbitrum (ARB) was not left behind. Arbitrum, which has a lot of potential with a market cap of over $3.8 billion and a circulating supply of 2,653,939,384 ARB has been trading below the 100-day Moving Average (MA) for some time now. However, recently the price of ARB has been showing some signs of reversing. As of the time of writing, Arbitrum was trading around $1.45, indicating an increase of 1% in the last 24 hours. There are currently two major resistance levels of $1.799 and $2.278 ahead of the price. Technical Indicators Show Signs Of Upward Movement In Arbitrum Price 4-hour RSI Indicator: Looking at the Relative Strength Index (RSI) indicator from the 4-hour timeframe, we can see that the RSI line is rising above the oversold zone and is heading toward the 50 level. This indicates a rise in the price, and if the RSI line rises above the 50 level, it might trigger the start of a new trend.  The image below reveals more: 4-hour MACD: looking at the formation of the MACD indicator from the 4-hour timeframe in the above image, we can also see that both the MACD line and the signal line having trended for a while below the MACD zero line have both crossed and are heading towards the MACD zero line.  On the other hand, the MACD histogram is already trending above the MACD zero line. This suggests that a change in direction might soon happen from its downward movement to an upward movement. 1-hour bull power vs bear power histogram indicator: lastly, taking a good look at the chart from the 1-hour time frame with the help of the bull power vs bear power indicator, it shows that the histograms are already trending above the zero level. This suggests that buyers are gradually taking over the market from sellers as seen in the image below. In conclusion, if the price of Arbitrum manages to change its direction from downward to upward direction, it is possible that ARB could retest its previous major resistance levels of  $1.799 and $2.278 and even move further to create a new peak. Nonetheless, if Arbitrum fails to move upward, the crypto assets price might move further downward to create a new low. Featured image from Shutterstock, chart from Tradingview.com

View Details

Arbitrums Massive $107 Million Token Unlock Threatens To Send Price Below $1

Arbitrum (ARB) runs the risk of a significant price decline due to its upcoming token unlock on April 16. These token unlock events are known to be a recipe for high volatility because of what could happen in the aftermath of their occurrence.  $107 Million Arbitrum Tokens Set To Be Unlocked Data from TokenUnlock shows that 92.65 million Arbitrum tokens (3.49% of its circulating supply) are set to be unlocked on April 16. 56.13 million ($65.10 million) of these tokens will be distributed to the team, future team, and advisors, while the remaining 36.52 million ($42.36 million) will be distributed to investors.  Related Reading: Dogecoin Whales Send 800 Million DOGE To Exchanges, Dump Incoming? Token unlocks are usually followed by a wave of massive sell-offs from the beneficiaries, which causes the tokens price to drop. As such, Arbitrums price could also suffer the same fate once these tokens are distributed. However, this wont be the first time, considering Arbitrum suffered a significant price decline during its last token unlock on March 16.  Data from CoinMarketCap shows that Arbitrums price, which closed the previous day at above $2, dropped to $1.8 on March 16. However, it is worth noting that the magnitude of this months token unlock is nothing compared to last months, when 1.11 billion Arbitrum tokens (41.89% of its circulating supply) were unlocked.  Therefore, the impact of any potential sell-off on the market might not be as severe as the last time. Despite that, Arbitrum still risks dropping below the $1 support level for the first time in a long while, as it is currently hovering around that price range.  Other Token Unlocks To Watch Out For $76.96 million worth of Axie Infinity (AXS) tokens (7.6% of circulating supply) will also be unlocked this week on April 17. 3.10 million of these tokens will be distributed as staking rewards, while 6.08 million and 1.69 million tokens will be distributed to the team and ecosystem fund, respectively.  Related Reading: Bitcoin Miners To Lose A Whopping $10 Billion Following The Halving Heres Why Meanwhile, like Arbitrum, Apecoin (APE) is another token that risks dropping below $1 with its upcoming token unlock on April 17. $18.57 million worth of Apecoin tokens (2.48% of circulating supply) will be unlocked, with most of these tokens going to the Yuga Labs founder. A significant drop in Apecoins price could further compound the bearish outlook of the Yuga Labs ecosystem, as the Bored Ape NFT is already down 90% from its peak.  ARB price drops to $1.11 | Source: ARBUSDT on Tradingview.com Featured image from CoinGape, chart from Tradingview.com

View Details

Are Arbitrum Investors Still Selling Off? Analysts Remain Bullish On ARB As Price Surges 5.2%

Arbitrum (ARB), the Ethereum Layer 2 (L2) scaling solution, recently went through an unlocking event as part of its 2024 roadmap. However, the event raised concerns about how the tokens price would react amid the market slowdown.  Its been a week since Bitcoins price started to dip. Despite BTCs recovery, the market still exhibits red numbers. Crypto analysts remain optimistic about ARB and the markets bullish run.  Related Reading: Bitcoin Traders Capitulate: Heres What Happened Last 2 Times Are Arbitrum Whales Still Dumping On Exchanges?  The event on March 16 unlocked 1.1 billion ARB tokens. These tokens were distributed among the team, advisors, and investors, who received 438.25 million ARB, approximately 40% of the total tokens unlocked.  Since then, Arbitrum whales have dumped millions of ARB on exchanges. As reported by NewsBTC, eleven whales recently sent over $58 million worth of the token to different trading venues.  Yesterday, the trend continued as two ARB whales sent around $12.72 million worth of ARB to the Binance exchange. These whales are seemingly investors who received around 28.43 million ARB tokens during the unlock. ::on-chain insights::$ARB investors are selling their tokens: two wallets which potentially belong to $ARB investors several hours ago sent their tokens to @binance wallet 0x1dc firstly sent 3 $ARB to be sure that they will arrive to his binance account and then sent pic.twitter.com/L8yfKnOnvK — Catakor (@Catakor) March 21, 2024 As reported by an X user, the first wallet received 19.845 million ARB on March 16. This whale sent 3 ARB to Binance as a test before offloading 3.9 million tokens worth $6.9 million. The second whale sent 3.424 million ARB tokens to Binance yesterday in two transactions, accounting for $5.79 million. Out of the 28 million tokens these investors received during Arbitrums unlock, the wallets now only hold 804,000 ARB, worth around $1.42 million.  Analysts Foresee Leg Up For ARB Arbitrums most recent downward trajectory started right before the unlocking event. After ARBs price failed to maintain the $2 support level, the token dropped over 30% to trade around $1.48 on March 19.  Since then, ARB has started to rise and retest its resistance levels again. According to crypto analyst World Of Charts, ARB broke a bullish flag on March 20.  Successfully retesting the $1.64 price range could potentially bring a 40-45% Bullish Wave, per the analyst. $Arb Finally #Arb Has Already Started As Expected Send It Now https://t.co/6RouflzapC pic.twitter.com/zGE6KFtIpk — World Of Charts (@WorldOfCharts1) March 20, 2024 ARBs retest above the suggested price range succeeded in the following hours. The token rose to the $1.8 mark in the early hours of today before returning to the $1.75 price range.   Crypto analyst Bluntz projected a leg up for Arbitrum after the price neared the $1.8 resistance level. As the analyst highlighted, ARBs price performance shows an a,b, and c zigzag pattern that could suggest an upward trajectory for the token. Additionally, he expressed optimism about the markets health based on the tokens performance. you know the market is healthy when even eth and eth beta is looking good again$arb pic.twitter.com/gjn4zduLW7 — Bluntz (@Bluntz_Capital) March 21, 2024 ARB is trading at $1.76 at writing time, representing a 5.2% increase in the last 24 hours. Although it shows a 14% and 12% decrease in the weekly and monthly timeframes, its current price still represents a 29.4% surge since the year began. Related Reading: Arbitrum Whales Are HODLing; Why Are ARB Prices Tanking? ARB's price trends to the upside on the hourly chart. Source: ARBUSDT on Trading.view.com Featured Image from Unsplash.com, Chart from TradingView.com

View Details

Arbitrum Token Sell-Off: Whales Transfer $58M To Exchanges Following Unlock, ARB Price Reacts

On Saturday, March 16, the Layer 2 protocol Arbitrum (ARB) unlocked 1.1 billion ARB tokens as part of its 2024 roadmap. This event led to a significant decline in the native token’s value, with losses of up to 18% reported over the past week.  In the past 24 hours, more whales have been sending ARB tokens to exchanges for selling, indicating a potential further drop in the protocol’s prices. This token unlocking marks the beginning of a four-year phased process, releasing a specific number of tokens every four weeks until 2027. 11 Whales Dump $58 Million Worth Of ARB Tokens Following the massive unlocking of ARB tokens, analysis firm Lookonchain revealed that 11 whales deposited 34 million ARB tokens (equivalent to $58 million) into exchanges.  Additionally, on-chain data provider “The Data Nerd” noted that trading firm Wintermute has been continuously depositing ARB tokens for the past 48 hours, potentially for selling purposes.  The data provider notes that digital asset trading firm Wintermute now holds only 7.22 million ARB tokens worth $12.35 million, indicating that they have already deposited or sold $18.12 million worth of ARB over the past few days. Related Reading: Solana Market Cap Set To Skyrocket 1,000%, Says Crypto Fund CEO The ARB token has been on a 29% downtrend since reaching its all-time high (ATH) of $2.39 on June 12, 2024. Following the unlock event, ARB traded as high as $1.96 but dipped to $1.61 within 48 hours.  The token has managed to reclaim the $1.68 level despite being in the red zone over the past 24 hours if the price drops further, ARB’s potential support walls are identified at $1.56, $1.46, and potentially as low as $1.32. Arbitrum Post-Unlock Journey  NewsBTC reported that there has been only one previous unlock event for ARB tokens. On the first day after the unlock, ARB experienced a 3% increase, indicating positive market sentiment and initial demand.  However, the token’s price gradually declined, reaching a low of -21% approximately 21 days after the unlock event. Interestingly, around the 25-day mark, the price began significantly recovering, surging by 19% above the unlock-day level.  These patterns suggest that while Arbitrum may face initial downward pressure post-unlock, there is potential for recovery and positive price movement in the following weeks. Related Reading: SOL Price Crosses $200 Milestone, Whats Next For Solana? The future trajectory of ARB’s price action remains uncertain despite experiencing a 15% drop from its first unlock day. Drawing from the past unlock event, if historical patterns hold, there may be a further 6% decrease, aligning with the previous 21% drop observed 25 days after the first Arbitrum unlock event.  This hypothetical scenario would place Arbitrum at $1.57, indicating a favorable mid-term uptrend structure. However, it is crucial to note that past patterns do not guarantee identical outcomes in current price trading. Nevertheless, analyzing historical data can provide valuable insights and help understand and assess potential price movements. Featured image from Shutterstock, chart from TradingView.com

View Details

Arbitrum (ARB) Rises 20% In A Single Week Amidst Massive Whale Activity

The Arbitrum (ARB) token has been on the rise lately, with a 20% price increase in the past seven days. The cryptocurrency is the native token of the Arbitrum network, which is a Layer-2 scaling solution for the Ethereum blockchain. This protocol is designed to boost transaction speed, enhance scalability, and improve privacy on the Ethereum [...]

The post Arbitrum (ARB) Rises 20% In A Single Week Amidst Massive Whale Activity appeared first on Crypto Breaking News.

View Details

Bullish Signal: Whales Accumulate Massive Amounts Of ARB

Through the bear market, Arbitrum (ARB) has been one of the tokens that have managed to hold on to a significant amount of its all-time high value. Along these same lines, the digital asset is one of the few tokens currently flashing a green bullish flag, and accumulation has ramped up as a result of [...]

The post Bullish Signal: Whales Accumulate Massive Amounts Of ARB appeared first on Crypto Breaking News.

View Details

Arbitrum Beats Ethereum and Solana With 119% Surge In NFT Sales, NFT Resurgence On The Horizon?

Arbitrum (ARB), the Ethereum Layer 2 scaling solution, has been facing a bearish week after failing to establish a new price floor and falling below the $2 level. Additionally, the unlocking event scheduled for March could negatively impact the tokens price. Despite ARBs recent drop, the blockchain has seen a greater performance in the non-fungible [...]

The post Arbitrum Beats Ethereum and Solana With 119% Surge In NFT Sales, NFT Resurgence On The Horizon? appeared first on Crypto Breaking News.

View Details

Arbitrum Airdrop Success: Metrics Soar Higher Across The Board

Arbitrum, a popular blockchain platform, has shown promising results after its airdrop in March 2023. According to a report by Nansen, a blockchain analytics platform, every activity metric on Arbitrum has gone up compared to pre-airdrop days.  Arbitrum’s Airdrop Bucks Trend The report notes that since the airdrop, the daily count of transactions and users [...]

The post Arbitrum Airdrop Success: Metrics Soar Higher Across The Board appeared first on Crypto Breaking News.

View Details

Arbitrum DAO Locks $770 Million In ARB Tokens Into Vesting Contract: Implications For ARB

Arbitrum DAO recently took a step toward addressing an obstacle. The DAO has committed to locking 700 million ARB tokens, valued at an estimated $770 million, into a vesting contract to foster transparent governance and accountability, per a community proposal.  The approval for this commitment came from an improvement proposal introduced during a contentious period [...]

The post Arbitrum DAO Locks $770 Million In ARB Tokens Into Vesting Contract: Implications For ARB appeared first on Crypto Breaking News.

View Details

Arbitrum (ARB) Continues Rally Despite Circulating FUD, Here’s Why

After suffering from a weekend filled with uncertainty, Arbitrum (ARB) now appears to be in for a rebound despite rumors about its whale and supply still circulating. Over the past 24 hours, Arbitrum native token ARB has surged by nearly 10%. Meanwhile, ARB has seen some large sales recorded on-chain, indicating that some investors are [...]

The post Arbitrum (ARB) Continues Rally Despite Circulating FUD, Here’s Why appeared first on Crypto Breaking News.

View Details