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<p class="is-style-lead">ARPA, the native currency of ARPA Network, a blockchain agnostic offering decentralized computing services, is down 12% on the last trading day and fast reversing losses posted in the past few sessions, price action data on May 28 shows.</p>



<h2 class="wp-block-heading" id="arpa-dumps-38">ARPA dumps 38%</h2>



<p>The sharp retracement of ARPA prices in the last two days is linked to the action of a whale that has been rapidly dumping the token on Binance, the world’s largest cryptocurrency exchange. In crypto, a whale is an individual controlling a large sum of a given token or coin, in this case, ARPA.</p>



<p>Changing hands at $0.08040 when writing on May 28, ARPA is notably down 38% from May highs and under pressure, peeling back gains posted from early May. Specifically, price action data on the daily chart shows a wide-ranging, bearish engulfing bar on May 27, during which ARPA fell 34%.</p>



<p>The noticeable collapse coincided with the ARPA whale selling tokens in bulk at Binance. </p>



<p>According to an on-chain <a href="https://twitter.com/lookonchain/status/1662404696047505408" target="_blank" rel="noopener">tracker</a>, the whale, who before May 27, had been withdrawing ARPA from Binance in the past few weeks through multiple addresses, moved nearly 50 million ARPA to Binance before selling.</p>



<p>In response to this market action, ARPA prices crashed. On May 27 alone, prices tanked 34%, and the spillover is currently being felt in the market. ARPA is lower, and bears seem to be in control. However, based on recent price action, ARPA prices may recover.</p>



<p>To illustrate, ARPA remains bullish, reading from price action in the daily chart. The token is up 130% from April lows and remains in an uptrend despite the 38% crash in the last two days.</p>



<h2 class="wp-block-heading" id="testnet-launch-plans-for-rancast">Testnet launch, plans for Rancast</h2>



<p>Buyers extended gains following the release of the ARPA Network testnet in mid-April. With this testnet, developers can build prototype dapps on the platform while utilizing the ARPA-BLS Threshold Signature Schemes (BLS) network.</p>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe title="ARPA Explained in 90 seconds" width="1020" height="574" src="https://www.youtube.com/embed/IwK9Z8r506U?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
</div></figure>



<p>ARPA Network also <a href="https://twitter.com/Crypto_Dep/status/1661743780276625411" target="_blank" rel="noopener">remains</a> one of the most active projects on Polygon by social activity. </p>



<p>Moreover, the computation platform plans to <a href="https://twitter.com/arpaofficial/status/1661231710980435969" target="_blank" rel="noopener">introduce</a> the first random number generator (RNG) dapp called Rancast. According to the team, the tool “will be a decentralized, verifiable, multi-chain supported RNG that will demonstrate the ARPA network&#8217;s capacities and provide high-quality randomness.”</p>



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Six weeks after testnet launch, ARPA whale dumps 50m tokens, price falls 38%

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