Arbitrum

<p><em><strong>Arbitrum (ARB), Ethereum’s Layer 2 scaling solution, recently saw its price dip below $2 following a failed attempt to stabilize.</strong></em></p><h2 id="header-0">Cryptos Headlines Token Airdrop Is Live, Claim $50 Worth Of 5000 CHT Token Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Screenshot_5.png?fit&#61;1276%2C681&amp;ssl&#61;1" /></p><p>This drop, influenced by factors like heightened selling and bearish indicators, prompts concerns about its immediate direction but also underscores its potential in the long run.</p><h3 id="arbitrum-arb-struggles-amid-convex-finance-s-sell-off">Arbitrum (ARB) Struggles Amid Convex Finance’s Sell-Off</h3><p>Convex Finance’s sale of 901,392 <a href="https://cryptosheadlines.com/dormant-whales-accumulate-arbitrum-arb-tokens-anticipating-price-rally/" rel="noopener noreferrer nofollow">ARB tokens</a>, totaling $1.63 million at an average price of $1.8 per token, has triggered a notable downturn for Arbitrum (ARB). This sell-off, resulting in over $400,000 in profit from tokens acquired in an airdrop last year, initiated a cascade effect among other investors, amplifying selling pressure and driving the token’s price downward.</p><blockquote><a href="https://twitter.com/search?q&#61;%24ARB&amp;src&#61;ctag&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">$ARB</a> price dropped ~9% in the past 24 hours!<a href="https://twitter.com/ConvexFinance?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">&#64;ConvexFinance</a> further deteriorates the price by selling 901,392 <a href="https://twitter.com/search?q&#61;%24ARB&amp;src&#61;ctag&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">$ARB</a> ($1.63M) for 559.4 <a href="https://twitter.com/search?q&#61;%24ETH&amp;src&#61;ctag&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> at ~$1.812 in the past 45 minutes.They received those <a href="https://twitter.com/search?q&#61;%24ARB&amp;src&#61;ctag&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">$ARB</a> from the DAO airdrop in Apr 2023, which was then worth only $1.2M.Token flow:… <a href="https://t.co/09al0a71Oj" rel="noopener noreferrer nofollow">pic.twitter.com/09al0a71Oj</a>— Spot On Chain (&#64;spotonchain) <a href="https://twitter.com/spotonchain/status/1760491468026950083?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">February 22, 2024</a></blockquote><p>Technical indicators on the daily timeframe chart point towards a <a href="https://cryptosheadlines.com/stellar-xlm-slumps-13-amid-bearish-sentiment/" rel="noopener noreferrer nofollow">bearish sentiment</a>. The short-term moving average (SMA), previously offering support near the $2 mark, has transitioned to resistance. Furthermore, the Relative Strength Index (RSI) has dipped below the neutral line, indicating a prevailing <a href="https://cryptosheadlines.com/dogecoin-makes-big-moves-could-the-downward-trend-shift/" rel="noopener noreferrer nofollow">downward trend</a>, albeit with moderate strength.</p><p>Despite facing these obstacles, Arbitrum has demonstrated signs of resilience. A marginal recovery of 0.2% has been observed, with the <a href="https://cryptosheadlines.com/sui-mainnet-goes-live-token-trades-at-1-33/" rel="noopener noreferrer nofollow">token currently trading</a> around $1.88. Additionally, the Funding Rate on derivatives platforms such as Coinglass remains positive at 0.014%, indicating that buyers still retain some influence, albeit with decreased aggression compared to previous periods.</p><p><a href="https://cryptosheadlines.com/cardano-ada-latest-status-and-network-activity/" rel="noopener noreferrer nofollow">Also Read:   Cardano (ADA): Latest Status and Network Activity</a></p><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/cryptosheadlines007-11.png?resize&#61;640%2C301&amp;ssl&#61;1" /></p><p>ARBUSD trading at $1.77 on the 24-hour chart: <a href="https://www.tradingview.com/chart/ajrdy9Lf/" rel="noopener noreferrer nofollow">TradingView.com</a></p><h2 id="header-1">Cryptos Headlines Token Airdrop Is Live, Claim $50 Worth Of 5000 CHT Token Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Screenshot_5.png?fit&#61;1276%2C681&amp;ssl&#61;1" /></p><h3 id="arbitrum-faces-mixed-signals-in-derivative-market">Arbitrum Faces Mixed Signals in Derivative Market</h3><p>While Arbitrum (ARB) exhibits strength in certain aspects, the derivative market presents a less optimistic outlook. <a href="https://cryptosheadlines.com/shiba-inu-open-interest-crosses-100m-raises-bitcoin-concerns/" rel="noopener noreferrer nofollow">Open Interest</a>, indicating the total capital locked in futures contracts, hovers around $254 million, suggesting relatively low interest in ARB compared to other tokens. This subdued engagement may potentially constrain upward momentum and price stability.</p><p>Despite the recent price downturn, Arbitrum maintains robust fundamentals and promising long-term prospects. Its efficient and cost-effective transactions, along with increasing developer adoption and ecosystem expansion, continue to attract attention. Recent partnerships such as <a href="https://cryptosheadlines.com/apecoin-community-plans-to-launch-apechain-on-arbitrum/" rel="noopener noreferrer nofollow">ApeCoin’s ApeChain launch on Arbitrum</a> further cement its position as a prominent Layer 2 solution.</p><p>While the current price movement implies a period of consolidation, Arbitrum’s enduring potential remains encouraging. Investors are advised to carefully analyze market trends, conduct technical assessments, and consider fundamental factors before making investment decisions.</p><p><em><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</em></p>

Arbitrum Drops Below $2; Recovery Timelines Analyzed

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