Arbitrum (ARB) Leads Top 50 Cryptos With Double-Digit Gain In Weekly Rankings

Christian Encila

2 years ago

4 mins read

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As the market experiences a strong bullish sentiment across the board, Arbitrum continues to ride the wave toward higher highs.

According to CoinMarketCap, the protocol’s native token ARB is up 28% in the past 24 hours, and emerging as the top gainer among the 50 leading cryptocurrencies on Friday.

Source: CoinMarketCap

Arbitrum’s DAO is relatively new. After being unveiled along with the protocol’s token on March 23, the Arbitrum ecosystem continues to grow. Yesterday, it was revealed that PocketBuff, a GameFi metaverse platform, partnered with Arbitrum to get video game projects on the protocol.

A Primer On The L2 Protocol

Arbitrurm is a layer-2 protocol built on top of Ethereum. Boasting a high transactions-per-second metric, the ecosystem quickly gained a foothold in the decentralized finance space. According to DeFiLlama, the protocol already boasts a $2.32 billion TVL.

Source:  DeFiLlama

The L2 protocol has two versions, Arbitrum and Arbitrum Nova. The former is the mainnet of the protocol that was first launched in August 2021. Arbitrum Nova, on the other hand, is an optimized version of the main Arbitrum blockchain.

On-Chain Developments Boost Confidence Among Investors

Across the board, multiple partnerships popped up, cementing Arbitrum in the DeFi world. mTrader Finance recently unveiled its decentralized derivative exchange on Arbitrum.

👋 #mTrader, a derivatives dex (#DDEX) built on @Arbitrum, a #Layer2 scaling solution for #Ethereum
With faster trades, lower fees, improved security, and greater scalability, mTrader is the future of trading 💪

Want to know more about how #mTrader x #Arbitrum benefits users? 👇 pic.twitter.com/HJGfttTBD8

— mTrader Finance 🐿️ (@MyMetaTrader) April 7, 2023

Meanwhile, Uniswap’s mobile wallet being live on the Apple app store should also boost visibility to more investors and traders. This wallet enables users to swap, buy, and hold digital assets on multiple blockchains, including Arbitrum.

Alchemy’s API, on the other hand, now allows NFT tracking on the protocol. This allows investors to monitor certain NFTs which would certainly bolster Arbitrum’s NFT ecosystem.

☎️Calling all Arbinauts ☎️

NFT activity tracking has landed on @arbitrum ✈️

Get real time updates anytime an NFT is transferred between addresses ⏰

Don’t. Miss. A. Beat. 💓👇 pic.twitter.com/W9nXXmQ6r3

— Alchemy | The web3 developer platform (@AlchemyPlatform) April 12, 2023

At $1.54, ARB Might Settle On This Level

After the token’s momentous rise, ARB bulls are left exhausted and are recuperating above $1.5. ARB might oscillate above and below this level in the next couple of days before targeting above this price level.

Crypto total market cap adds a few digits and currently at $1.24 trillion on the daily chart at TradingView.com

The market has been incredibly bullish in the past few weeks, with the total market cap of crypto increasing by nearly 4% in the past 24 hours. This sentiment might flip within the coming weeks as bulls exhaust their momentum and consolidate their gains.

-Featured image from Telegaon

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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