Arbitrum’s token, ARB, has shown impressive growth over the past week, increasing by 8.5%, despite the overall decline in the cryptocurrency market. In fact, it is ranked fifth for highest price gain within the top 100 by market cap. Furthermore, the ARB/BTC chart (2-hour) indicates that this token is one of the handful of altcoins that has remained strong against Bitcoin. One analyst, @DaanCrypto, attributes this high on-chain transaction volume to Arbitrum, following Ethereum and BSC. Another analyst, Andrew Kang, co-founder of Mechanism Capital, agrees that Arbitrum is on track to reach blue chip status and will likely rerate to be at the top of the alt L1/L2 stack. Kang notes that, “While these bullish conditions sustain this year, FDV [Fully Diluted Value] is a meme. Especially considering there are no major unlocks until next year.”
About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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