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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Arbitrum Soars 44% To Record Highs As Whales Splash Millions On ARB Tokens

Samuel Edyme
Samuel Edyme
1 year ago
3 mins read
Chainlink Performance Crucial For Altcoin Market

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Alongside the rest of the crypto market, Arbitrum, a layer-two scaling solution for Ethereum, has surged by 44% in the past week, reaching major highs. Though the surge can be attributed to the ubiquitous uptrend in the market, the massive whale buying of the token appears to be a contributor to its bullish trend.

The buying spree comes weeks after Arbitrum suffered a never-ending fear, uncertainty, and doubt (FUD) in the crypto community. Though the FUD resulted in a plummet in the ARB market, the asset has since rebounded and has picked up a rally. 

Related Reading

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Arbitrum (ARB) Continues Rally Despite Circulating FUD, Here’s Why

2 years ago

Whales Buying Frenzy Sends Arbitrum Soaring 

According to data from Lookonchain, whales have been on a buying spree on Arbitrum native token ARB. Nine whales purchased 12.4 million ARB tokens in the past seven days, equivalent to $21 million. Meanwhile, eleven other whales still hold a huge sum of ARB tokens, and only three sold 22.8 million ARB tokens worth $38 million.

The massive buying spree by whales suggests they are bullish on Arbitrum’s potential to revolutionize the Ethereum ecosystem. Arbitrum aims to reduce congestion on the Ethereum network as a scaling solution by enabling faster and cheaper transactions. 

Its innovative design uses a unique roll-up technology aggregating multiple transactions into a single batch, allowing for faster settlement times and reducing gas fees.

The roll-up technology has attracted significant interest from Ethereum developers and enthusiasts, who believe it could help Ethereum scale meet the growing demand for decentralized applications (dApps) and non-fungible tokens (NFTs). 

The current bullish sentiment surrounding Arbitrum and ARB tokens suggests that there could be significant gains for early investors. As the Ethereum network continues to grow and evolve, layer-two solutions like Arbitrum will likely become increasingly important, providing a scalable and efficient infrastructure for decentralized applications.

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ARB Plummets 5% As Arbitrum Presents Draft Of New Governance Proposal

1 year ago

ARB Surges 44% In The Past Week

After surviving a bearish-filled weekend weeks ago, ARB is currently in the green, up by 44% in the last 7 days. The asset’s price has moved from trading as low as $1.17 on April 10 to trading nearly at $2 with a trading price of $1.72 at the time of writing. ARB is currently up by 6.3% in the last 24 hours. 

Arbitrum (ARB) price chart on TradingView
Arbitrum (ARB) price chart on the 2-hour chart. | Source: ARB/USDT on TradingView.com

ARB’s market cap has also surged, moving the token rise from ranking at #41 to ranking #32 today in terms of market capitalization among other cryptocurrencies in the global crypto market.

In the past 7 days, over $500 million has been added to the asset’s market capitalization. Its market cap currently sits at $2.2 billion, up 38% in the last 7 days. 

Notably, the massive whale buying indicates smart money is bullish on the project’s prospects. As more developers and users flock to the platform, the demand for ARB tokens is expected to increase. 

Featured image from Unsplash, Chart from TradingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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