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Arbitrum Prints TD Buy Signal: Trend About To Flip?

An analyst has pointed out how Arbitrum (ARB) has formed a Tom Demark (TD) Sequential buy signal on its weekly chart recently.

Arbitrum May Have Hit A Point Of Reversal According To TD Sequential

In a new post on X, analyst Ali has discussed a TD Sequential signal that Arbitrum has observed in its weekly price recently. The “TD Sequential” is an indicator in technical analysis generally used for locating probable reversal points in any asset’s price.

This indicator has two phases, the first of which is known as the “setup.” In this phase, candles of the same polarity are counted up to nine, and once these nine candles are in, the price may be assumed to have reached a possible turnaround.

Naturally, if these candles were green, the TD Sequential would suggest a potential sell signal for the asset, while if they were red, the indicator would shoot a buy signal.

Once the setup is complete, the “countdown” phase begins. The countdown works much like the setup, except that it lasts thirteen candles, not nine. The countdown’s finish leads to another likely top or bottom for the price.

Now, here is the chart shared by Ali that shows the TD Sequential signal that Arbitrum has just formed in its weekly price:

Arbitrum Price Chart

As displayed in the above graph, Arbitrum has recently completed a TD Sequential setup on its weekly price with red candles. This naturally means that, according to the indicator, the asset should likely reverse towards the upside now.

The analyst suggests that this buy signal “anticipates a one to four candlesticks rebound for ARB.” Given this pattern, how the coin’s price will develop in the coming days remains to be seen.

In some other news, the Arbitrum network has recently observed its transaction activity go up, as market intelligence platform IntoTheBlock has pointed out in an X post.

Arbitrum Transactions

The chart shows that the number of transactions on Arbitrum has been increasing in the last couple of months. Back in early March, the network’s average transfer count stood at around 1 million, but recently, it has crossed the 2 million mark.

A high transaction count is generally a sign that traders are interested in the asset. This could lead to more volatility for the coin’s price, although its direction can go either way.

ARB Price

At the time of writing, Arbitrum is trading around $1.01, down almost 2% over the past seven days.

Arbitrum Price Chart

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Arbitrum’s 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. 

Token unlocks are usually followed by a wave of massive sell-offs from the beneficiaries, which causes the token’s price to drop. As such, Arbitrum’s price could also suffer the same fate once these tokens are distributed. However, this won’t be the first time, considering Arbitrum suffered a significant price decline during its last token unlock on March 16. 

Data from CoinMarketCap shows that Arbitrum’s 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 month’s token unlock is nothing compared to last month’s, 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. 

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 Apecoin’s price could further compound the bearish outlook of the Yuga Labs ecosystem, as the Bored Ape NFT is already down 90% from its peak. 

Arbitrum price chart from Tradingview.com

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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:

Arbitrum

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.

Arbitrum

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 asset’s price might move further downward to create a new low.

Arbitrum

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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 token’s price would react amid the market slowdown. 

It’s been a week since Bitcoin’s price started to dip. Despite BTC’s recovery, the market still exhibits red numbers. Crypto analysts remain optimistic about ARB and the market’s bullish run. 

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.

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 Arbitrum’s unlock, the wallets now only hold 804,000 ARB, worth around $1.42 million. 

Analysts Foresee Leg Up For ARB

Arbitrum’s most recent downward trajectory started right before the unlocking event. After ARB’s 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’s 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, ARB’s 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 market’s health based on the token’s performance.

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.

arbitrum arbusdt

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Altcoins Shows Buy Signals, Massive Opportunity Beckons: Analyst

As the price of Bitcoin (BTC) continues to demonstrate a major fall in valuation, indicating a gloomy attitude toward the crypto asset, the bulls in the market are hopeful that the market will soon enter another Season for Altcoins.

Altcoins Showing Massive Buying Opportunity 

Bitcoin’s recent dip signaled the beginning of the decline in the cryptocurrency market, causing several altcoins to drop significantly. However, many cryptocurrency analysts believe that the drop in these altcoin prices might serve as an opportunity for future gains since the alt-season is on the horizon.

Popular cryptocurrency expert and trader Michael Van De Poppe has revealed his optimism in the altcoin market, highlighting the significant opportunities of getting into these tokens before the alt-season begins.

According to Michael Van De Poppe, “some altcoins have now dropped by over 40%” in comparison to their past all-time high. As a result, Poppe believes that this is the right time for investors to purchase these digital assets to position themselves for future gains.

Poppe noted he normally invests in these tokens “during bull cycles when they are about 25% to 60% less expensive.” This demonstrates the crypto expert’s confidence in the assets to rally in the coming months.

While pointing out the massive opportunities in the market, Poppe has underscored Arbitrum (ARB) as one of the altcoins investors should watch out for. He believes that ARB could realize substantial gains in time, as the token is down and poised for a new leg UP.

Altcoins

Recently, there have been notable advancements in the crypto asset’s price, demonstrating momentum for an upward movement. As of the time of writing, ARB was trading at $1.70, indicating an over 10% increase in the daily timeframe.

However, in the weekly and monthly timeframe, ARB is down by 22% and 15%, respectively. Meanwhile, Arbitrum’s market capitalization has increased by roughly 10% to exceed the $4.5 billion threshold.

Top ALTs To Purchase After Bitcoin’s Retracement

On-chain analyticS platform Santiment has also highlighted the drop in altcoins as a shot to garner profits in the upcoming months. Santiment pointed out several altcoins that offer a “possible bullish opportunity,” following Bitcoin’s crash today to a two-week low of $61,700.

Some of the tokens listed by Santiment are BOUNCE, LDO, OMG, STORJ, and SNX. The MVRV Opportunity and Danger Zone Model, according to Santiment, shows that many altcoins have now declined to the point where mid-term trading returns are in an “opportunity zone.” However, when an asset’s 30-day, 90-day, and 365-day average wallet returns add up to be negative, “this zone is breached.”

Even with the recent general correction, the altcoins market appears to be headed toward a favorable long-term picture. Consequently, this presents an excellent chance for investors to purchase these digital assets at a reduced cost.

Altcoins

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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.

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.

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.

Arbitrum

Featured image from Shutterstock, chart from TradingView.com

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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 token’s price.

Despite ARB’s recent drop, the blockchain has seen a greater performance in the non-fungible token (NFT) market, surpassing Ethereum and Solana.

Arbitrum: Top Gainer In The Last Day

Data from Crypto Slam shows that the daily NFT sales volume in the Arbitrum blockchain recovered in the last 24 hours. The blockchain is the fourth largest by total NFT volume sales, showing a recent performance larger than Ethereum or Solana.

The chart above shows that Arbitrum is the top gainer after seeing a 119.41% surge in sales volume, over $1.26 million, during the last 24 hours. The blockchain also registered an 8.09% increase in wash sales from the day prior. Despite the rise, it only accounts for 0.11%, or $1,489, of the total sales volume.

Wash trading is a practice used to inflate an asset’s value artificially. As a form of market manipulation, the trader buys and sells the same asset, usually through a third party, to create the impression of a higher market activity of said asset.

Wash sales in the NFT market can happen through a single seller creating multiple accounts to trade the NFT or two sellers scheming to buy and sell each other’s digital assets.

The Arbitrum blockchain had 8,094 transactions during the last day, which accounts for a 9.04% increase. Its demand and offer of NFTs also rose by approximately 10%, with 3,557 buyers and 1,904 sellers in the previous 24 hours.

Solana and Ethereum saw a milder increase in their daily volume sales, with 26.69% and 5.42% respectively. Solana had a total sales volume of $10.9 million, divided by $9.17 million in authentic sales and $1.77 million in wash sales, which is 16.21% of the total volume and a 9.37% surge from the day prior.

Despite the sales volume being worth almost eleven million dollars, the demand and offer saw a significant 21.21% transaction drop and a 15.6% buyer decrease on the last day.

On the other hand, the NFT sales in the Ethereum blockchain saw a 2.9% drop in its total daily sales volume. Similarly, the number of transactions faced a slight 3.79% decline, with 23,931 transactions.

However, it’s worth noting that wash sales in the Ethereum blockchain saw a significant 19.33% decrease, with $7.14 million in the last 24 hours.

Is An NFT Resurgence In The Horizon?

The daily sales volume suggests a recent interest in some of the NFTs offered in the Arbitrum and other top blockchains. However, said interest could be a momentary thing in this ever-changing market. To paint a bigger picture, let’s look at what the 7-day time frame data suggests.

As seen in the chart below, five of the top ten blockchains by NFT sales volume have increased in this timeframe. Arbitrum, Bitcoin, and BNB Chain are among the top gainers in the last week.

Arbitrum remains the biggest winner with its massive 373.18% surge. The number of buyers and sellers also increased exponentially, with a 69% surge (approximately 35,000 buyers) and a 56% increase (27,000 sellers) in the past week.

Ethereum takes the first spot as the blockchain with the largest NFT sales volume of $202.5 million. However, Solana remains the winner in the transaction and the user’s metric. The blockchain saw 860,714 transactions in the past week, with over 242,041 buyers and 144,395 sellers.

Besides the sales volume, the transactions and buyer/seller numbers shone some light on the NFT market in the past week. These numbers, green in the top ten blockchains by NFT sales, undoubtedly suggest an increase in interest in the 7-day time frame. However, these numbers are significantly below the NFTs market performance shown in the 30-day metric.

ARB, ARBUSDT, Arbitrum

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Arbitrum In Freefall, Dips Below $2 As Experts Analyze Recovery Timelines

Arbitrum (ARB), the Ethereum Layer 2 scaling solution, has experienced a recent price drop, falling below the $2 mark after a brief attempt to establish a new price floor. This decline, attributed to several factors including increased selling pressure and bearish technical indicators, raises questions about the token’s short-term trajectory while highlighting long-term potential.

Selling Spree Triggers Downward Spiral

The price decline began with a surge in selling pressure, most notably from Convex Finance. Over the past 24 hours, the DeFi giant offloaded 901,392 ARB tokens, valued at $1.63 million, at an average price of $1.8 per token.

This move, representing a profit of over $400,000 since acquiring the tokens in an airdrop last year, triggered a domino effect, with other investors following suit.

Bearish Indicators Reinforce Downtrend

Technical indicators on the daily timeframe chart further paint a bearish picture. The short-term moving average (SMA), previously acting as support around the $2 mark, has flipped to resistance. The Relative Strength Index (RSI) dipped below the neutral line, suggesting a dominant downward trend, albeit a weak one.

Despite the decline, signs of resilience emerge. The token experienced a slight recovery of 0.2%, currently trading around $1.88. Additionally, the Funding Rate on derivatives platforms like Coinglass remains positive at 0.014%, indicating that buyers still hold some control, albeit with less aggressiveness compared to before.

Low Derivative Interest: A Point Of Caution

However, the derivative market paints a less optimistic picture. Open Interest, a metric reflecting the total amount of capital locked in futures contracts, stands at around $254 million, indicating relatively low interest in ARB compared to other tokens. This lack of engagement could potentially limit upward momentum and price stability.

Long-Term Prospects Remain Promising

Despite the recent price dip, Arbitrum boasts strong fundamentals and long-term potential. Its fast and affordable transactions, coupled with growing developer adoption and ecosystem development, continue to attract interest. Recent partnerships like ApeCoin’s ApeChain launch on Arbitrum further solidify its position as a leading Layer 2 solution.

While the current price movement suggests a period of consolidation, Arbitrum’s long-term prospects remain promising. Investors should carefully consider market trends, technical analysis, and fundamental factors before making any investment decisions.

Featured image from Kamil Pietrzak/Unsplash, chart from TradingView

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How To Buy Sell and Trade Tokens On The Arbitrum Network

The Arbitrum (ARB) network is a Layer 2 scaling solution for Ethereum that aims to address the scalability and high transaction fees. It is developed by Offchain Labs and utilizes a technology called Optimistic Rollups to achieve its objectives.

Optimistic Rollups work by processing most transactions off-chain and then periodically submitting a summary of those transactions to the Ethereum mainnet. This approach reduces the transaction costs significantly and increases the throughput of the network while maintaining the security guarantees of the Ethereum mainnet.  

In other words, the optimistic rollup feature allows Ethereum smart contracts to scale by passing messages between smart contracts on the Ethereum main chain and those on the Arbitrum second layer chain. Much of the transaction processing is completed on the second layer, and the results of this are recorded on the main chain — drastically improving speed and efficiency. 

One of the key features of the Arbitrum network is its compatibility with existing Ethereum smart contracts. Developers can deploy their contracts on the Arbitrum network with minimal modifications, allowing for easy migration of decentralized applications (dApps) from Ethereum to Arbitrum.

Also, the arrival of the Ethereum network introduced a groundbreaking transformation in the realm of blockchain technology, providing a platform for the creation of decentralized applications (dApps) and propelling the growth of decentralized finance (DeFi). Nevertheless, as Ethereum’s preeminence soared, it encountered hurdles related to scalability and exorbitant transaction fees. 

This is where the Arbitrum network enters the picture as a Layer 2 scaling solution, poised to tackle these challenges while ensuring seamless integration with Ethereum’s ecosystem. In this article, we will explore the core features of the Arbitrum network and examine its immense potential in the Ethereum ecosystem.

Features Of Arbitrum Network

The promise of Scalability:

Scalability has long been a bottleneck for Ethereum, causing network congestion and skyrocketing transaction fees during times of high demand. Arbitrum tackles this challenge by implementing Optimistic Rollups, a technology that allows for most transactions to be processed off-chain. By aggregating multiple transactions into a single summary, ARB achieves significant scalability improvements, enabling faster confirmation times and a higher throughput. This scalability boost unlocks the potential for a more efficient and seamless user experience on the Ethereum network.

Ecosystem and Adoption: 

The Arbitrum network has garnered significant attention and interest within the Ethereum ecosystem. Several prominent projects and protocols have announced plans to deploy on Arbitrum or explore integrations. This growing ecosystem includes decentralized exchanges (DEXs), lending platforms, gaming applications, and more. 

The increased adoption of Arbitrum provides users with a wider range of options for interacting with decentralized applications (DApps) and accessing various DeFi services.

Smart Contract Execution:

Arbitrum Network makes use of a technique called optimistic execution to process smart contracts. It assumes that most transactions are valid and executes them off-chain. This enables the  network in providing fraud proofs, which allows anyone to challenge invalid transactions by submitting evidence to the Ethereum mainnet. This approach enables efficient and secure smart contract execution.

Decentralization and Security: 

While Arbitrum relies on the Ethereum mainnet for final settlement and security, it maintains a high level of decentralization and security. By leveraging Ethereum’s robust consensus mechanism, Arbitrum benefits from the security guarantees of the Ethereum network. The periodic submission of transaction summaries to Ethereum ensures that any potential fraudulent activity can be detected and resolved.

Seamless User Experience: 

Using the Arbitrum(ARB) network is designed to be seamless for users. They can continue using their existing Ethereum wallets, such as MetaMask, to interact with the Arbitrum network. This familiarity and compatibility make it easier for users to transition from Ethereum to Arbitrum and enjoy the benefits of improved scalability and reduced transaction fees without significant changes to their workflows.

What Makes Arbitrum Unique?

The Arbitrum (ARB) network is designed to provide an easy-to-use platform developers can use to launch highly efficient and scalable Ethereum-compatible smart contracts. It offers a range of exciting possibilities for developers and users alike. Some examples of what can be done on the network include:

High EVM compatibility

Arbitrum(ARB) is considered to be one of the most EVM-compatible rollups. It’s compatible with the EVM at the bytecode level, and any language that can compile to EVM works out of the box — such as Solidity and Vyper. This makes it easy to build on since developers do not need to get to grips with a new language before building on Arbitrum.

Decentralized Finance (DeFi) applications:

The Arbitrum (ARB) network can be used to build and run DeFi applications, such as decentralized exchanges (DEXs), lending and borrowing platforms, and stablecoin systems. These applications can benefit from the network’s fast transaction processing times and low gas fees, enabling efficient and affordable transactions.

Low  transaction fees

As a Layer 2 scaling solution for Ethereum, Arbitrum isn’t just designed to boost Ethereum’s transactional throughput, it also minimizes transaction fees at the same time.

Thanks to its extremely efficient roll-up technology, Arbitrum is able to cut fees down to just a tiny fraction of what they are on Ethereum, while still providing sufficient incentives for validators.

Well-developed ecosystem

Arbitrum is already working with a wide variety of Ethereum DApps and infrastructure projects, including the likes of Uniswap.

Cross-Chain Interoperability

The Arbitrum (ARB) network can also be used to enable cross-chain interoperability between different blockchains. This could allow for the seamless transfer of assets and data between different blockchain ecosystems, enabling greater interoperability and connectivity across the entire blockchain space.

The Arbitrum network’s fast transaction processing times, low fees, and security and decentralization features make it a compelling choice for a wide range of use cases.

How To Get Started on The Arbitrum Network

To buy and sell tokens on the Arbitrum (ARB) network, you must first get a metamask wallet. MetaMask is a popular browser extension wallet commonly used for interacting with blockchain networks like Ethereum. It is available as a browser extension for popular browsers such as Google Chrome.

Ensure your Metamask Wallet has been added to your browser as an extension by clicking on the ‘Add to Chrome” icon on the top right as shown below:

Arbitrum 1

Once installed and set up, MetaMask allows users to manage their cryptocurrency wallets, interact with decentralized applications (DApps), and securely execute transactions on supported blockchain networks directly from their browsers. (Make sure to write down your seed phrase on a piece of paper and keep it in a safe place. Do not store it online or on your device).

Next, add the ARB network to your Metamask wallet by following the instructions provided on the Metamask website here.

Trading On the Arbitrum (ARB) Network

In order to execute trades on the ARB network, you will need to fund your wallet with Ethereum (ETH) so as to enable you to cover gas fees even though the majority of the trading activity takes place on the Arbitrum layer 2 solution. This is because the Arbitrum network periodically submits transaction summaries and proofs to the Ethereum mainnet, which requires paying Ethereum gas fees. 

You can buy ETH on centralized exchanges such as Binance, copy your wallet address from Metamask, and then send the ETH from Binance to your Metamask wallet. 

You can also purchase ETH directly within the Metamask wallet using traditional payment methods such as credit or debit cards, etc.

Just click on the “Buy/Sell” button within Metamask to open the interface. Here, you can put how much ETH (or any other token) you want to buy in terms of dollar terms, pick your payment method, and then click “Buy”.

Note that to buy crypto directly within Metamask, you will need to provide info such as your country and state. However, it is a straightforward process that only takes a minute.

Metamask wallet

It’ll only take a couple of minutes at most for your ETH to arrive in your wallet. Once the ETH arrives, you are all set to begin trading tokens on the ARB network. So, head over to UniSwap to get started on your trading journey.

How To Trade Tokens On The ARB Network Using UniSwap

Uniswap is a decentralized exchange (DEX) protocol built on the Ethereum blockchain. It allows users to trade Ethereum-based tokens directly from their wallets without the need for intermediaries or traditional order books. Uniswap offers users a simple and straightforward way to buy and sell a wide variety of tokens.

Endeavour to be on the right Uniswap website to protect your wallet from any fraudulent activity.  The first step is clicking on the “launch app” button at the top right corner, as shown in the image below:

Uniswap

The next step is clicking on the connect wallet option on UniSwap at the top right corner, as shown in the image below:

Arbitrum trading

Connect to your preferred wallet as shown below. (In this case, it’s Metamask):

Uniswap trading

Once connected, switch Metamask to the ARB network. (If you’re already on the ARB network, you do not need to switch):

Token trading

After connecting MetaMask to the ARB network, go to UniSwap, and then you can start trading on the ARB network using UniSwap. 

The next step is to select your preferred tokens on the UniSwap interface and since Uniswap operates on a token to token trading model, click on the “select token” button to select the trading pair you want to trade against. 

For example, if you want to buy USDT using ETH,  select  ETH – USDT, enter the amount, then click on “swap” or “trade now” and confirm the transaction in your Metamask wallet. You can view the tokens in your wallet’s asset list.

Arbitrum 7

Buying and Selling Tokens with the Metamask Wallet

ARB Network users can also buy and sell tokens using the Metamask extension wallet already connected to the ARB network. 

To do this, make sure you’re connected to the ARB network and have ETH to swap and pay for gas fees. Then, navigate to the “Swap” button as shown below. This will take you to the Swap interface inside Metamask.

Buying Ethereum ETH

Using the image above as a guide, you can also search for tokens using the name or the contract address, just like on UniSwap. Input the amount of ETH you want to swap, confirm that you have the correct token, and then click “Swap.” Once the transaction is confirmed, the tokens you just bought will be sent to your wallet.

Tracking Token Prices on The Arbitrum  Network

Users of the Arbitrum (ARB) network can take advantage of on-chain tools like Dexscreener to gain access to comprehensive market insights for specific tokens. These insights include price data and contract information, empowering users to make well-informed trading decisions based on reliable and up-to-date information. 

With Dexscreener on the Arbitrum network, users can stay informed about token metrics and market dynamics, enhancing their trading strategies and overall trading experience.

Dexscreener

Dexscreener offers a variety of advantageous features tailored to users on the Arbitrum network. Among these features, an exceptional one is the charting functionality, which delivers both real-time and historical price data for a wide range of tokens. 

By utilizing these charts, users gain valuable insights into price trends, trading volumes, and other pertinent metrics. This enables them to pinpoint potential entry or exit points for their trades with precision and confidence. 

Take a look at the example below:

Arbitrum Dexscreener

Conclusion

In conclusion, the Arbitrum network offers a compelling ecosystem for buying, selling, and trading tokens, providing several notable advantages over other platforms. With its seamless integration of on-chain tools like Dexscreener, users gain access to detailed market insights, real-time price data, and historical charts, enabling them to make informed trading decisions with confidence.

 

Additionally, Arbitrum’s scalability and low transaction fees enhance the overall trading experience, ensuring quicker and more cost-effective transactions. By leveraging the power of the Arbitrum network, traders can enjoy a secure, efficient, and feature-rich environment that empowers them to navigate the world of token trading with ease.

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Arbitrum (ARB) Rise: Daily DEX Volume Surges, Outpacing Ethereum By $400 Million

Arbitrum, a prominent Layer-2 (L2) scaling solution, has been on a remarkable upward trajectory since the launch of its native token, ARB, in March 2023. The past 30 days witnessed a staggering 74% surge in ARB’s value, underscoring the growing market interest in the protocol.

Notably, Arbitrum’s daily decentralized exchange (DEX) volume has experienced a significant surge, propelling the protocol to surpass Ethereum (ETH) for the first time in this key metric. 

This milestone highlights Arbitrum’s increasing adoption and recognition for its scalability within the decentralized finance (DeFi) ecosystem.

Arbitrum Sets New DEX Records

According to data from DefiLlama, Arbitrum’s daily DEX volume reached an impressive $1.834 billion over the past 24 hours, surpassing Ethereum’s volume of $1.444 billion. Analyzing DefiLlama’s data, it becomes evident that Arbitrum’s growth extends beyond daily DEX volume alone. 

The weekly change in ARB’s value soared by 32.58%, showcasing the token’s strong performance in the market. Moreover, Arbitrum’s seven-day volume reached an impressive $6.804 billion, indicating robust trading activity on the protocol.

Arbitrum

In terms of total value locked (TVL) in DEX, Arbitrum accounted for $1.297 billion, constituting 33.40% of the total TVL. In comparison, Ethereum’s TVL stood at $5.92 billion, making up 26.29% of the total. This demonstrates Arbitrum’s growing prominence as users increasingly recognize its potential for efficient and secure decentralized trading.

ARB’s Financial Metrics Soar

Further demonstrating the growth of the protocol’s ecosystem, token terminal data shows that Arbitrum’s market capitalization (in circulation) has increased by an impressive 83.84% to $2.56 billion. 

The revenue generated by Arbitrum over the past 30 days has also experienced remarkable growth, with a 79.82% increase to reach $11.66 million. 

Furthermore, looking at the fully diluted market capitalization, Arbitrum has witnessed an identical 83.84% rise to reach $20.07 billion. 

Arbitrum’s revenue on an annualized basis has seen a significant boost, surging by 101.67% to reach $141.81 million. This figure represents the projected revenue for a full year based on the current monthly revenue, underscoring the protocol’s sustained growth.

In terms of fees generated, Arbitrum’s 30-day figures have surged by 79.82% to reach $11.66 million, demonstrating the protocol’s ability to capture a significant share of transactional fees within its ecosystem. 

On an annualized basis, fees have soared by 101.67% to reach $141.81 million, further validating the protocol’s revenue growth and economic potential.

Arbitrum

Nevertheless, the protocol’s native token, ARB, is trading at $1.8962, down over 8% in the past 24 hours and below its all-time high (ATH) of $2.11 set on Thursday. Despite this pullback, it is still up 36% over the past 14 days, demonstrating the token’s bullish momentum.

Featured image from Shutterstock, chart from TradingView.com

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Arbitrum Is Trending On Social Media, Time For ARB To Rip Higher?

There is an upswing in social media mention of ARB, the native token of Arbitrum, a layer-2 scaling solution for Ethereum, suggesting growing interest and potential for price gains.

According to AlphaScan data on January 4, ARB had the “best sentiment” in the last 24 hours, with more than 40% of all weekly mentions occurring within this timeframe. Notably, ARB was the most mentioned token, right behind Bitcoin. This surge in positive sentiment shows in the weekly timeframe, where over 30% of all monthly mentions occurred in the last week of December.

ARB trending | Source: AlphaScan

ARB Is Trending As Prices Rise To 2024 Highs

Social media mentions can be a good metric for tracking sentiment. As such, with ARB trending, only trailing Bitcoin, it could show that the crypto community is taking note of the project and tracking its progress. Since there was no hack or steep losses on January 3, the ARB social media count spike is a net bullish for the project.

Interestingly, ARB is trending across social media platforms when token prices are at an all-time high and decentralized finance (DeFi) activity is recovering. From the daily chart, ARB is changing hands at around $2, the highest price point for the token, according to Binance data. 

Arbitrum price trending upward on the daily chart | Source: ARBUSDT on Binance, TradingView

In 2023 alone, ARB surged roughly 300% from March 2023 lows, peaking in late December. The uptrend remains, and bulls are pressing on, absorbing any attempts for lower lows.

Arbitrum plays a key role in addressing the scaling limitations of Ethereum. The layer-2 roll-up option re-routs transactions from the mainnet, relieving the base layer. This helps keep gas fees low, enhancing the overall user experience. 

Based on L2Beat data on January 4, Arbitrum is the largest layer-2 scaling solution with a total value locked (TVL) of over $9.8 billion. Of note, Arbitrum has implemented a permission fraud-proof system that overly enhances transaction transparency, allowing for the effective monitoring of its sequencer’s activities.

Arbitrum TVL | Source: L2Beat

Arbitrum Orbit Supports Custom Tokens For Gas Payment

The uptick in social media activity also follows the recent enhancements to Arbitrum Orbit. Launched in Q1 2023, the platform allows developers to build layer-3 protocols on Arbitrum. 

Protocol developers have now added support for custom gas tokens. This feature relieves Orbit chain deployers from using ETH to pay gas fees and, instead, opt to select ERC-20 tokens, including ARB. 

With Arbitrum Orbit evolving, developers and projects launching on layer-3 solutions will have more flexibility. This move will also likely enhance the utility of their respective tokens, boosting demand and even prices since they are not tied to using ETH or, expressly, ARB to pay gas fees. 

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Arbitrum Reaches Major Milestone In TVL As Price Rallies

Arbitrum (ARB), a layer 2 (L2) protocol has achieved yet another major milestone in its Total Value Locked (TVL) reaching new heights, following a surge in the crypto asset’s price.

Arbitrum Sees Surge In Total Value Locked (TVL)

According to the L2beat platform, Arbitrum’s TVL recently went past the $10 billion mark putting it in the spotlight. Data from the analytics firm reveals that the network’s TVL is currently at $10.36 billion.

L2beat’s report shows that Arbitrum One’s TVL soared by a remarkable 16.49% over the past seven days. With this accomplishment, the network is firmly established as the first Layer 2 network to surpass the $10 billion TVL threshold.

L2beat shows that Arbitrum is above Optimism (OP) by about 40% which comes in second place with a TVL of $6.44 billion. Optimism’s TVL has also increased significantly by 11.63% in the last 24 hours. 

When analyzing Arbitrum’s TVL, Ethereum (ETH) makes up about 30% of the TVL, while the ARB token makes up about 23.68%. Meanwhile, stablecoins make up a substantial portion of 29% of the TVL, with the remaining 15.76% going to other assets. This diverse composition highlights the platform’s increasing popularity and attractiveness to a larger range of users.

In addition, L2beat has also revealed a surge in the network’s market share. The data shows that Arbitrum One’s market share has seen an increase of over 48%. 

So far, the network’s token ARB seems to have experienced a rise in response to the rise in TVL. The digital asset price is currently set at $1.84, indicating a 2.82% increase in the past day.

As of the time of writing, the network’s trading volume has increased significantly by 60% in the past 24 hours. Meanwhile, its market capitalization is up by 1% in the past day, according to data from CoinMarketcap

The price rise is indicative of investors’ increased faith and interest in Arbitrum’s ecosystem. The network’s success also highlights the growing need in the Ethereum ecosystem for scalable and affordable solutions.

Analyst Predicts A Clear Uptrend For ARB

Cryptocurrency analyst Michaël van de Poppe has predicted a clear uptrend for Arbitrum, signaling a possible breakout. The analyst shared his projections for the token on the social media platform X (formerly Twitter).

Related Reading: Arbitrum Network Faces Major Outage, ARB Token Faces 4% Decline

In his analysis, he noted that the uptrend is “taking place with beautiful retests of previous resistances, becoming a support zone.” Poppe further pointed out a possible retest optimal “go-to level” between $1.50-1.60. 

This area denotes a tactical stage where the token might experience a retest before opting to breach the psychological barrier of $2.  However, this will only take place if the ARB continues on the current upward path.

Lastly, Poppe highlighted a difficulty in the token initiating its first cycle when put against Bitcoin. “Against $BTC, this pair barely wakes up and starts its first cycle,” he stated.

With the recent price of Arbitrum sitting at $1.84, it appears that the analyst’s predictions will soon come to pass.

Arbitrum

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Arbitrum (ARB) Maintains Impressive 30% Price Uptrend, Analyst Predicts Breakout Above $2

Arbitrum (ARB), a prominent Layer 2 (L2) protocol, has emerged as one of the top gainers in the past month, experiencing a remarkable surge of 59%. Over the past 7 days, the token has grown substantially over 31%, propelling it to reach a new all-time high (ATH) of $1.8391 on Monday. 

Arbitrum’s Market Capitalization Surges To $2.21 Billion

The impressive price surge of ARB reflects the growing interest in the protocol and its native token within the Layer 2 ecosystem. This surge is evident when examining the data provided by Token Terminal, a leading analytics platform. 

According to Token Terminal’s data, Arbitrum’s market capitalization (circulating) is $2.21 billion, marking a significant increase of 56.18%. 

Additionally, the revenue generated by the protocol over the past 30 days amounts to $11.31 million, representing a substantial surge of 87.74%. 

The fully diluted market capitalization is $17.33 billion, reflecting the market’s positive sentiment toward the protocol’s potential. The revenue on an annual basis reaches $137.63 million, exhibiting an impressive growth of 106.63%.

Moreover, the strong performance of the market indicators, such as the P/F ratio (fully diluted) at 125.95x and the P/S ratio (fully diluted) at 125.95x, indicate robust investor confidence. 

The fees generated by the protocol over the past 30 days amount to $11.31 million, representing a significant increase of 87.74%. Additionally, the annualized fees reached $137.63 million, demonstrating a substantial growth of 106.63%. 

Furthermore, the data reveals that Arbitrum has a strong user base, with an average of 153,3100 active daily users over the past 30 days, highlighting its popularity and adoption. Even more encouraging is that a prominent crypto analyst foresees continued growth in price action for ARB.

Clear Uptrend In ARB Signals Potential Breakout

Renowned crypto analyst Michael van De Poppe has identified a clear and promising uptrend in the cryptocurrency ARB. 

Through his technical analysis, van de Poppe observes that the token has been consistently experiencing “beautiful retests” of previous resistance levels, which have now transformed into strong support zones.

If the current price trajectory continues, Michael van De Poppe suggests that investors should keep an eye on a potential optimal “go-to zone” for ARB between $1.50 and $1.60. 

This zone represents a strategic level where the token may experience a retest before deciding to break the psychological barrier of $2.

It remains to be seen if this prediction will come true and how ARB’s price action will develop through the first half of 2024.

ARB

Featured image from Shutterstock, chart from TradingView.com 

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ARB Soars 25% In 24 Hours As Arbitrum Preps For Major Projects In 2024

In the tumultuous world of cryptocurrency, few names have resonated as powerfully in 2023 as Arbitrum (ARB). The crypto juggernaut has rapidly ascended the ranks, outpacing industry stalwarts and marking its territory in the competitive landscape.

As the demand for its network reached a fever pitch, developers flocked to Arbitrum, surpassing the likes of Polygon, Optimism, Avalanche, and even the formidable Solana.

The meteoric rise of ARB isn’t just a spectacle; it’s a testament to its resilience and adaptability. In the latest twist of the crypto bull run, ARB has displayed an impressive recovery, trading at an enviable $1.62.

ARB Shows Mettle With 42% Rally In Weekly Charts

A formidable 25% surge in the last 24 hours and a solid 42.4% increase over the past week underscore the coin’s enduring strength as Arbitrum buckles up for major partnerships in 2024.

The journey from its yearly low has been remarkable, witnessing an 80% surge that catapulted its market cap beyond the $1.6 billion mark. It’s a stark contrast to the all-time high of $8.67, a summit conquered just nine months ago.

Arbitrum’s allure extends beyond price dynamics; it boasts a burgeoning ecosystem teeming with renowned developers. According to DeFi Llama, its Total Value Locked 24.3% surge in the last 24 hours

Arbitrum Unveiled: Ethereum’s Scaling Prodigy

Specifically created to support Ethereum’s scalability, Arbitrum is a decentralized platform. By scaling Ethereum, Arbitrum provides users with an Ethereum-like platform where they may engage in on-chain activities at a lower cost than what they would pay on the Ethereum mainnet.

The Ethereum submodules known as Arbitrum rollups power Arbitrum. The rollups remove the requirement for Ethereum nodes to validate arbitrum transactions, suggesting that Ethereum will accept the Arbitrum layer’s credibility for on-chain operations from the standpoint of “innocent until proven guilty.”

With over 50% YoY growth in developer headcount, the Arbitrum chain is among the fastest-growing Layer 2 solutions, according to the 2023 Developer Report. The ecosystem currently consists of a wide variety of components as a result of this exponential expansion in development.

On March 23rd, Arbitrum orchestrated a groundbreaking airdrop, disbursing 1.27 billion ARB tokens to over 600,000 eligible wallets. This spectacle coincided with a surge in daily transactions, hitting a single-day high of 2.73 million, as reported by Arbiscan.

Meanwhile, DCSpark and Paima Studios co-founder Sebastien Guillemot have discussed the possibility of working together in 2024. A member of the Cardano community and software engineer Guillemot wrote on X, predicting additional projects in 2024 that integrate Arbitrum with Cardano and Protocol.

Guillemot thinks that merging both platforms will be beneficial, especially given Ethereum’s current market conditions.

Featured image from Freepik

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2023’s Crypto Bounty: These Top 13 Airdrops Distributed Over $4 Billion

023 has emerged as a significant year for crypto airdrops. A recent analysis revealed that out of the 50 most substantial crypto airdrops since 2020, 13 occurred in 2023, collectively distributing roughly $4.56 billion worth of tokens.

These figures are calculated based on the tokens’ values at their respective all-time highs (ATHs), painting a picture of substantial distribution.

The year 2023’s airdrop landscape was less crowded than 2021, which had 18 entries in the top 50, but the impact was notable. A report from CoinGecko highlights this trend shift, contrasting it with the mere 5 airdrops in 2020 and 14 in 2022.

Arbitrum Leads 2023’s Airdrop Charge

Arbitrum, an Ethereum layer 2 scaling solution, topped the 2023 airdrop chart by distributing ARB tokens valued at $1.96 billion on March 23. This move significantly impacted its total value locked (TVL), which surged by 147% during the anticipation period.

This airdrop alone constituted a substantial portion of the total value distributed in the year. Celestia, with its TIA tokens, followed suit, distributing $728 million on October 31.

The airdrop targeted a diverse group, including developers, Ethereum rollup users, and stakeholders in the Cosmos Hub and Osmosis.

Blur’s first airdrop, which handed out $446 million worth of BLUR on February 14, ranked third. The success of this initial airdrop set the stage for a second, which distributed an additional $327 million, ranking fourth.

Crypto airdrops in 2023.

A Closer Look At 2023’s Crypto Airdrop Trends

While Arbitrum, Celestia, and Blur’s first airdrop made up 69.9% of the total airdrop value in 2023, the year saw diverse contributions across the sector. Jito, Worldcoin, Aidoge, and other projects followed, each adding to the cumulative value and diversity of the airdrops.

The total value distributed in 2023 may have seen a decline compared to 2022, but it’s essential to consider the market cycles these newer tokens have experienced.

Unlike earlier tokens which saw the 2021 bull market and the 2022 non-fungible token (NFT) market surge, many of 2023’s airdropped tokens are yet to undergo a full bull market cycle.

In terms of performance, Arbitrum and Worldcoin have shown significant gains, with ARB rising by 22% in the past week to trade at $1.33, at the time of writing and WLD by over 60% in the past two weeks to trade at $3.86, at the time of writing.

Arbitrum (ARB) price chart on TradingView

Celestia and Blur follow closely in terms of price appreciation, with both tokens up by 10.7% and 5.7% respectively in the past 7 days.

Conversely, Jito, despite being the newest among them, has seen a dip in its value down by 9.4% in the past two weeks but shows signs of recovery in the past week, up by 9%, illustrating the dynamic and often unpredictable nature of token valuations post-airdrop.

Featured image from iStock, Chart from TradingView

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Arbitrum Network Faces Major Outage, ARB Token Faces 4% Decline

Arbitrum (ARB), a prominent Ethereum scaling solution, encountered a significant downtime event on December 15, according to the network’s status page. 

The incident prompted an immediate investigation into the root cause and the deployment of a fix. As of the time of writing, the Arbitrum One network remained inaccessible for over 60 minutes due to sequencer and feed issues.

Arbitrum Struggles With Network Downtime

The status update from Arbitrum acknowledged the problem, stating that the Arbitrum One Sequencer and Feed stalled at 10:29 AM ET amidst a notable surge in network traffic. 

Notably, Martin Köppelmann, co-founder of Gnosis, alleged that the outage experienced within the Arbitrum network was a result of ordinals. Köppelmann remarked that the stress testing of various blockchains using ordinals had led to the disruption, stating, “Ordinals stress testing various blockchains is certainly entertaining to watch. Now they brought the Arbitrum sequencer down.”

In addition to the sequencer and feed issues, Arbitrum also encountered a halt in block production, ceasing to generate new blocks approximately 1.5 hours ago. The impact of this stoppage on the network’s overall functionality and transaction processing remains a concern for users and stakeholders.

The investigation into the root cause of the downtime is crucial for understanding the underlying technical issues and preventing similar disruptions in the future. Users and industry participants eagerly await the post-mortem analysis from Arbitrum, which will provide a detailed account of the incident and the proposed remedial measures.

ARB Thrives Despite Market Volatility

Over the past 24 hours, the ARB token experienced a decline of 4.94%, reflecting short-term market fluctuations. However, the token has demonstrated relative stability when considering its performance over longer timeframes.

Arbitrum

In the last 180 days, ARB has shown a significant growth of 17.76%, indicating a positive trend for long-term investors.

According to Token Terminal data, Arbitrum currently boasts a circulating market capitalization of $1.49 billion, with a fully diluted market capitalization of $11.69 billion. 

Revenue generated by the project has experienced significant growth over the past 30 days, with a notable increase of 68.00%. The revenue projection on an annualized basis stands at $85.97 million, highlighting the project’s ability to generate sustainable income.

Moreover, Arbitrum has witnessed a rise in active users, with a daily average of 166.37 thousand participants over the past 30 days. This growth in user adoption suggests increasing interest and utilization of the Layer 2 scaling solution.

Featured image from Shutterstock, chart from TradingView.com 

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Altcoin Corrections Signal Strong Buy Opportunities: Crypto Analyst

In a recent analysis shared on X (formerly Twitter), crypto analyst Michaël van de Poppe offered an insightful perspective on the current state of the altcoin market. His analysis draws parallels with historical trends, suggesting that the current corrections in altcoins may present strong buying opportunities for investors.

Buy The Altcoin Dips Now?

Van de Poppe’s analysis began by noting the ongoing corrections in the altcoin sector, which he interprets as part of a sustained uptrend. “Altcoins have multiple days/weeks correction while still in an uptrend,” he stated, indicating that these periods are not only natural but also beneficial for the market’s overall health.

He further explained the dynamics of these corrections, emphasizing their historical significance. “This [current] period is very heavily comparable to the period we experienced at the end of 2015, or at the end of 2019,” van de Poppe mentioned. He drew specific attention to Ethereum’s remarkable run from $1 to $14 in late 2015, which eventually led to a peak of $1,400 in 2017, demonstrating the potential for massive returns.

Ethereum Price Performance In 2015/2016

Van de Poppe’s analysis also touched upon the concept of higher timeframe support zones. He elucidated that during initial upward runs, corrections to these support zones offer ideal re-entry points for investors. “During the run in 2020, we’ve seen the DeFi summer taking place, which has a high chance of coming back to the surface in 2024,” he added, hinting at a potential bull run in the coming months.

A significant part of his analysis involved a detailed comparison between Ethereum’s price action and that of other altcoins like Chainlink and Arbitrum. He noted, “If you compare the price action of Ethereum with the current price action of Chainlink, you’ll see that it’s just barely having a correction of 20%.” He suggested that further corrections could provide even clearer trends and entry points for investors.

Van de Poppe also emphasized the importance of time frames in analyzing these trends. “If you start to zoom in on the 1h, or 4h, or 15m timeframe, you’ll spot those trends as well. It’s just a matter of time frame,” he explained.

Chainlink And Arbitrum Entry Zones

Looking at the LINK/USD 1-day chart, van der Poppe remarked, “Arguments can be made that we’re barely at the start of this first upwards wave of the cycle as this rally of Chainlink lasted less than 5 weeks.”

As the crypto analyst shows, Chainlink has already undergone a correction of -21.7%. According to him, there are two points of interest for a possible entry, in the range from $12.54 to $13.18 and around $11.62.

Chainlink price analysis

“Another example is Arbitrum, which is currently resting on support and, just like the rest of the markets, is providing a corrective move,” stated van der Poppe. The analyst identifies a “clear range support” at $0.98 in the 1-day chart of ARB/USD.

Altcoin Arbitrum price

In conclusion, Michaël van de Poppe’s analysis presents a compelling case for considering altcoin corrections as potential opportunities for investment. His concluding advice to investors is “Don’t be afraid, if an altcoin drops between 30-50% at this stage of the cycle, time to look for your entries.”

At press time, the total altcoin market cap stood at $169.264 billion, just below the crucial 0.236 Fibonacci retracement level of $169.928 billion. A break above this resistance could be a major bullish signal.

Altcoin market cap

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Radiant Capital’s Earnings Exploding, Time To Load The RDNT Bag?

Radiant Capital, a lending and borrowing protocol for users to borrow various assets across multiple chains, is rapidly closing in on Aave, looking at earnings data over the past six months.

Radiant Capital Earnings Rising: What’s The Trigger?

According to Token Terminal statistics on November 8 shared by one user on X, @Flowslikeosmo, Radiant Capital generated $5.8 million in revenue despite a relatively lower level of liquidity than Aave. @Flowslikeosmo, who claims to be a crypto researcher, said Radiant Capital’s earnings will likely explode in the upcoming sessions, especially once the 2.8 million ARB begins to be deployed.

Radiant Capital earnings | Source: Token Terminal via @Flowslikeosmo on X

Radiant Capital is a popular cross-chain decentralized money market through which users, regardless of their choice blockchain, can either lend their assets and earn passive income or borrow assets trustlessly. This way, the decentralized finance (DeFi) protocol has opened up liquidity and boosted access to multiple blockchains.

Related Reading: Dogecoin In Tight Zone: Why A Rally Will Happen If DOGE Clears $0.076

To perform effectively, the protocol relies on LayerZero, which enables trustless and decentralized communication between blockchains using Oracle Relays, allowing platforms to be more interconnected and ledgers to be more interoperable. As Radiant Capital offers services, the DeFi protocol generates earnings or revenue primarily from fees. 

The platform charges a protocol fee on all transactions. Earnings from this allow the team to be operational while allowing the protocol to generate revenue.

However, it should be noted only 15% of this fee is used to cover operational expenditure, with the rest redistributed to users as yield. Besides, there are fees billed to users taking flash loans. The protocol rewards providers with RDNT to incentivize liquidity provision, depending on the amount provided and the duration locked.

ARB Airdrop, Will RNDT Rally To New 2023 Highs?

Earnings generated depend on the activity level, directly influencing protocol fees accrued and the number of users taking flash loans. Following Radiant Capital’s recent announcement that it plans to airdrop 2 million ARB following the Arbitrum DAO‘s approval of a proposal first floated in late September, activity could skyrocket in the coming months, boosting earnings.

Moreover, the protocol’s liquidity is expected to increase with this approval. The ARB airdrop will be used to incentivize liquidity provision. Additionally, Radiant Capital will strike more partnerships, allowing it to expand to other chains, including Ethereum and Arbitrum.

Radiant Capital price trending upward on the daily chart | Source: RDNTUSDT on Binance, TradingView

According to Dune Analytics data, the number of RDNT holders continues to rise, mirroring its general price performance. Thus far, RDNT is up 40% from October lows. The immediate resistance level at $0.33 must be broken for the coin to rally, even registering new 2023 highs.

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Arbitrum Sale On Binance: How This Investment Firm Lost $465,000 In An ARB Trade

Recent transactions by Arca, a prominent investment firm, involving Arbitrum native token ARB, have again put them under the spotlight. According to on-chain tracking platform Lookonchain, the firm has suffered a substantial loss nearing half a million recently.

Arca’s Arbitrum Shipment to Binance

Lookonchain reported earlier today that Arca transferred roughly 1.49 million ARB tokens to Binance. With a value of around $1.21 million, this transaction indicates a possible liquidation of Arca’s holdings in Arbitrum (ARB).

If this were the case, according to Lookonchain, it would translate into a significant loss of $465,000 for the investment firm. Notably, as significant as it seems, the ARB token transaction isn’t an isolated case of Arca’s investments not panning out as anticipated. Loononchain noted: “Arca’s investment this year appears to be terrible.”

An analytical dive into the firm’s past decisions has shown similar patterns. For instance, Arca’s foray into GMX and DYDX left them with losses of $231,000 and $304,000, respectively. Their stakes in DPX and SYN further compounded their negative streak, resulting in losses of $142,000 and $107,000.

Silver Linings Amid Investment Storms

However, it’s crucial to note that not all is gloomy for Arca. Investment is as much about strategy as it is about timing, and while the firm has faced setbacks, they’ve also had its share of victories.

An example is their investment in RDNT, which proved profitable, netting them a profit of $294,000, according to the on-chain tracking platform.

Furthermore, Arca is not alone in its recent losses with Arbitrum. The ARB token has seen a decline of nearly 10% over the past week and 1.2% in just the last day, ensnaring numerous traders in its bearish trajectory.

Data from Coinglass indicates that Arbitrum has witnessed total liquidations amounting to approximately $376,160 in the past 24 hours alone. A significant portion of these liquidations were long positions, valued at $282,120, compared to short positions at a mere $93,840.

This data suggests that many traders were optimistic about ARB’s potential to follow a bullish trend. However, starkly contrasting their expectations, they faced significant losses.

When writing, the ARB token is trading at $0.72, marking a significant drop of roughly 90% from its all-time high of $8.67 recorded just seven months ago in March.

Arbitrum (ARB) price chart on TradingView

Featured image from iStock, Chart from TradingView