Main navigation

Arbitrum (ARB) Might Gain 50%, According to This Unique Metric

Wed, 03/29/2023 - 14:22
article image
Arman Shirinyan
Airdrop of token brought a lot of attention to network, but token's price performance might bring even more surprises
Arbitrum (ARB) Might Gain 50%, According to This Unique Metric
Cover image via

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

Arbitrum, a promising blockchain scaling solution, is projected to witness a significant 40% surge in value, according to the Binance listings pattern. This model examines the performance of assets listed on Binance that have obtained their own perpetual futures contracts.

Historically, these assets have tended to bottom out a few days after launch, followed by a rally of approximately 50% into the second week.

As of now, Arbitrum is trading at $1.2. Since March 28, the ARB token has experienced a 15% increase in value, bringing it closer to its initial listing high. The launch of Arbitrum saw the price plummet from around $5 to $1 in a matter of minutes, followed by a successful rebound. Additionally, the majority of users were unable to claim their tokens for several hours.

Arbitrum's rapid recovery and growth can be attributed to its innovative technology and compatibility with Ethereum, allowing developers to leverage its Layer 2 scaling solution for faster and cheaper transactions. The platform has been successful in attracting numerous decentralized finance (DeFi) projects, further contributing to its increasing value.

Dogecoin (DOGE) Statement Made by Burger King UK Delights Community

Investors and traders should keep a close eye on Arbitrum's price performance in the coming weeks, as the Binance listings pattern suggests a high probability of continued growth. However, it is crucial to exercise caution and conduct thorough research before making any investment decisions, given the inherent volatility of the cryptocurrency market.

At press time, the Arbitrum network is seeing an overall reduction in network activity as the hype around the airdrop calmed down and the majority of investors are looking for different projects that offer tokens for using their network or solution.

article image
About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.