Arbitrum (ARB) is down over 10% today due to falling funding rates, open interest, and declining network activity. Despite the dip, a recovering Total Value Locked (TVL) suggests underlying resilience.
Arbitrum fell 10% in 24 hours, facing competition from tokens like Fartcoin (FARTCOIN).
Overall crypto market capitalization dropped to $3.97 trillion, showing a 1.75% decrease.
Total Value Locked (TVL) on Arbitrum is stable at $5.59 billion, hinting at potential recovery.
Arbitrum’s price drop of over 10% highlights market volatility, yet its TVL improvement signals hope for investors. Stay informed!
What is causing Arbitrum’s price decline?
Arbitrum (ARB) is experiencing a price drop primarily due to the unlocking of 92.65 million tokens, equivalent to about 2.09% of the circulating supply. This increase in supply has created short-term bearish pressure, as more ARB tokens entered the market over the last three months.
How are network activities affecting ARB price?
Network activity on Arbitrum has seen a significant drop. The total transaction fees fell by 74%, with a reduction in transactions by 4.72%. New addresses and verified contracts decreased by 46% and 11.8%, respectively, indicating a waning interest in the platform.
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The main factors impacting ARB’s market performance include token unlock events, network activity metrics, and broader market trends affecting cryptocurrencies.
ARB may recover if it can maintain a strong Total Value Locked (TVL) and regain network activity, alongside favorable market conditions.
In summary, ARB is facing significant bearish pressure due to token unlocks and waning network activities, yet the resilient TVL suggests a possible path to recovery. Investors should remain alert to market conditions as Arbitrum endeavors to stabilize.
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Source: https://en.coinotag.com/arbitrum-faces-10-decline-amid-weak-network-activity-and-token-unlocks-yet-tvl-shows-signs-of-resilience/