Arbitrum (ARB) Price Marks Local Low, Here’s What Could Happen Next
As Arbitrum Reaches $2.16 Billion In Total Value Locked, ARB Price May Have Bottomed
According defillama, the volume of recorded value in Arbitrum reached a value of $2.17 billion. For now, 23% of Arbitrum’s total value, or almost half a million dollars, is locked in GMX, the decentralized exchange that has taken the DeFi world by storm.
The last time the TVL of Ethereum’s Layer-2 solution hit similar numbers was in November 2021, when the crypto market was on the sunset of its last bull run. Arbitrum now ranks fourth among all blockchains in terms of this indicator, behind only Ethereum (ETH), Tron (TRX) and Binance’s BSC.
Arbitration Courts (ARB)
Meanwhile, the price of the Arbitrum token, ARB, whose sensational airdrop took place this week, appears to have bottomed out. The values are of course local, given that the token has been listed on the exchange for less than a week. The all-time low remains at $1.11 per ARB, which was set at the start of trading. Nevertheless, as the week progressed, the ARB price did not fall below the low of $1.17.
For now, according to blockages, of the 1.275 billion ARB distributed by airdrop, 989.8 million tokens, or 85.2%, were claimed by its participants. The fact that price is printing higher lows as supply dries up from recipients of free tokens so far speaks for more positivity.
Arbitrum (ARB) Price Marks Local Low, Here’s What Could Happen Next
