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Solana-Based ARB Protocol Jumps 882%, Here's Why Its Growth Is Superficial

Wed, 03/22/2023 - 13:17
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Godfrey Benjamin
ARB Protocol has huge growth of 882% in WTD period to become latest Solana sensation
Solana-Based ARB Protocol Jumps 882%, Here's Why Its Growth Is Superficial
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ARB Protocol, a Solana-based automated decentralized Arbitrage protocol, has charted a massive growth leap of 882% over the week-to-date (WTD) period. At the time of writing, the token is changing hands on exchanges at a price of $0.004165.

Despite its impressive outlook, there are many indications that show that the growth of the ARB Protocol is, at best, superficial in nature. To begin with, the trading volume of the protocol has slumped by more than 66%, a showcase that not many investors are currently stacking up on the token, nor are there traders trading it as such.

With poor demand inversely proportional to the price of the asset, we can at least attribute the WTD momentum to the ecosystem hype about the growth of the protocol's community. As announced by the outfit, the community on Discord just hit a new milestone of 1,000 members in what can be described as a relatively unimpressive ecosystem milestone.

ARB Protocol, has, however, been launching a series of staking products that might have truly transformed the perception of investors about the protocol as a whole. Should it be regarded as the dominant outlet for obtaining high staking yield on Solana, it may likely attract more of an embrace over time.

Bonk (BONK) Sees New Growth After Major Burn Update; What's Next?

Solana temporarily fizzles out

All of the highlighted basis for the growth and recent performance of the ARB Protocol are notably not what can drive truly sustainable organic growth for any token in today's value-filled Web3.0 ecosystem.

With the positivity that surrounds Solana, ARB Protocol may be one of the well-publicized things fizzling out after Bonk, the meme coin still trying to make a comeback to incentivize its loyal customers. ARB Protocol is already occupying a pivotal position on Solana, and additional innovation and regular updates are among what could help drive it toward a profitable path in the near future.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.