Arbitrum token (ARB) is on for a good day, gaining by more than 10% in 24 hours as activity on the asset market keeps growing.
ARB, trading at $1.49 as of press time, had recorded a 12% increase in price valuation within 24 hours. The asset’s trading volume surged over 140% within the same period. The asset’s market cap has also increased by 11% as of press time.
ARB has been today’s CoinMarketCap number one trending coin ahead of ethereum despite its massive gains today, as the token boasts a notable 24% increase in valuation for the week.
Arbitrum announces new development
Amid the excellent market day, the token’s network Arbitrum announced a new partnership on the network. Arbitrum, a popular ethereum layer two scaling solution, announced a new development allowing users to track NFTs in real time on its network, which might have been attributed to its native token surging.
This development was made possible by Alchemy, a blockchain infrastructure platform that provides tools and services for developers building decentralized applications.
With this new feature, users can get real-time updates whenever an NFT is transferred between addresses on Arbitrum. This means that collectors and traders can closely monitor their NFTs and ensure their assets are always secure.
The ability to track NFT activity in real time is essential in the rapidly growing NFT market, where the value of these digital assets can change quickly.
The announcement has also been met with excitement from the blockchain community and its network, with many users praising the integration of Alchemy’s infrastructure on the Arbitrum network. This development is expected to improve the overall user experience on Arbitrum, making it easier for users to manage their NFTs and engage in transactions.
Adding real-time NFT tracking on Arbitrum is a significant step forward for the network and the broader blockchain ecosystem. It highlights the continued growth and development of the NFT market and the importance of secure and reliable infrastructure for the digital asset space.
Source: https://crypto.news/arbitrum-rallies-to-become-top-trending-coin-on-coinmarketcap/