Arbitrum

Discord

<a href="https://optimisus.com/market/price-analysis/will-arbitrum-arb-reach-6-in-2024/" rel="noopener noreferrer nofollow">Arbitrum</a>, Ethereum's layer-2 network, soared to an eight-month high of $1.4567. The surge amounted to an impressive 20% increase in the last 24 hours, accompanied by a significant 315% increase in trading volume. This surge increased Arbitrum's market capitalization by an astounding 15%.  
During this market frenzy, significant strategic moves were revealed. Spotonchain data revealed that a whale identified as 0x0db withdrew 2.91 million ARB, worth $3.53 million, from OKX at $1.21.  
This strategic move resulted in a holding of 4.15 million ARB, valued at $5.62 million, with a notable floating gain of $924K. It's worth noting that this whale previously made $913K trading ARB on OKX in April.  
Amber Group 0x011, another major player, demonstrated consistent accumulation, acquiring 6.41 million ARB, worth $7.58 million, from Binance since November 17.  
Their most recent transaction involved withdrawing 1.51 million <a href="https://optimisus.com/news/crypto-news/unclaimed-arb-tokens-worth-56-million-distributed-by-arbitrum-dao-in-airdrop/" rel="noopener noreferrer nofollow">ARB</a> worth $2.07 million at $1.37, resulting in a floating gain of $1.07 million.  
Despite the bullish momentum, Arbitrum suffered a critical setback on December 15. A 78-minute outage was reported by the network's Discord community manager, Ricardo "Gordan."  
The outage was blamed on inscriptions, in which the sequencer stalled due to an increase in network traffic, resulting in reduced transaction processing capacity.  
Only two transactions were recorded per block during this time period. The team later confirmed that the outage was caused by inscriptions. 
The post <a href="https://optimisus.com/news/crypto-news/arbitrum-arb-surges-by-over-20-hitting-8-month-high/" rel="noopener noreferrer nofollow">Arbitrum (ARB) Surges By Over 20%, Hitting 8-Month High</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

Arbitrum (ARB) Surges By Over 20%, Hitting 8-Month High

Optimisus

Other articles published on Dec 24, 2023

Sony’s PlayStation 5 Achieves Remarkable 50 Million Sales Milestone

Coinbase responds to Senator Warren’s allegations regarding regulatory influence

As Bitcoin surges, miners reap these benefits

Cryptocurrency Market Surges: MINA, SOL, and Other Altcoins See Significant Gains

Why Is Moonriver’s MOVR Pumping? Price Close to Major Resistance at This Level

What Awaits the Crypto Market in 2023: A Look Back at 2022

Join our free newsletter for daily crypto updates!