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Home»Bitcoin»Arbitrum – AMBCrypto
Bitcoin

Arbitrum – AMBCrypto

September 12, 2024No Comments3 Mins Read
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  • Arbitrum hits new all-time low.
  • The Arbitrum token will be unlocked as the balance of addresses increases.

Arbitrum (ARB) was launched on March 23, 2023, with an initial price of around $0.50 on many major exchanges.

ARB hit an all-time high in early 2024, but has since fallen below its launch price, forming a potential double bottom on the daily time frame.

This double bottom has not yet confirmed a reversal since the ARB has not moved its medium-term high.

Source: TradingView

Despite this, many analysts believe that ARB may have bottomed out, especially with the historical trend of a bullish fourth quarter for the cryptocurrency market.

Technical indicators like the MACD have turned bullish, adding to the anticipation of a price rebound.

Total number of addresses with growing balance

From an on-chain perspective, Arbitrum has seen growth in the number of addresses holding ARB, despite the overall price decline since launch.

This increase highlights the continued adoption of Arbitrum’s Layer 2 solution based on the Ethereum blockchain, which aims to improve scalability and reduce transaction costs.

Source: IntoTheBlock

Arbitrum DAO, the network’s governance body, is considered a significant innovation, marking the first Ethereum Virtual Machine (EVM) deployment to achieve Stage 1 decentralization, further strengthening the project’s credibility in the crypto space.

Arbitrum Liquidation Levels

ARB price action has been driven by liquidation levels. Currently, there are 31 critical long liquidation levels versus 32 short liquidation levels, suggesting that market sentiment remains balanced.

This almost equal split of long and short liquidations implies that traders are unsure of the ARB’s next move, but optimism is slowly building.

This neutral sentiment reflects general market conditions, as most cryptocurrencies are declining with many investors liquidating their positions.

Source: Hyblock Capital

Next ARB Token Unlock This Month

In five days, Arbitrum will unlock 2.65% of its current circulating supply. This is equivalent to approximately 92 million ARB tokens. The tokens will be distributed to team members, future contributors, and investors.

These events can affect short-term price movements. It is important to consider them in the context of Arbitrum’s long-term fundamentals. Market sentiment will also play a key role in price movements.

Source: Token Unlock


Realistic or not, here is ARB’s market cap in terms of BTC


ARB’s stock price was $0.51 and its market cap was $1.8 billion. This suggests room for growth if the overall cryptocurrency market recovers.

Investors are closely monitoring ARB’s technical and on-chain indicators. The token could see a price increase if market conditions improve. A crypto bull market in the coming months could significantly increase ARB’s value.

Next: Is Terra Classic (LUNC) About to Break the 567% Barrier?



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