Arbitrum

Two large investors recently earned a profit of $3.29 million by selling 2.77 million ARB tokens. The price of ARB could potentially rise because of two factors.<h2 id="header-0">Cryptos Headlines Token Airdrop Is Live, Claim Instant 5000 CHT Tokens Worth Of $50 Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Binance-labs.png?fit&#61;850%2C480&amp;ssl&#61;1" />The upcoming token unlock and the Ethereum Dencum upgrade. If ARB manages to surpass the resistance level of $2.15, it could see a further increase to $3.<h3 id="arbitrum-and-ethereum-face-key-events">Arbitrum and Ethereum Face Key Events</h3>Arbitrum (ARB) and Ethereum (ETH) are approaching significant events: the <a href="https://cryptosheadlines.com/upcoming-token-unlocks-for-31-altcoins-revealed-check-out-the-daily-schedule/" rel="noopener noreferrer nofollow">token unlock</a> for Arbitrum and the Dencun Upgrade for Ethereum. Recently, two whales moved millions of ARB tokens, depositing 2.77 million tokens into Binance, valued at $5.94 million at the time, resulting in a $3.29 million profit.The Arbitrum <a href="https://cryptosheadlines.com/27-altcoins-set-for-token-unlock-events-in-the-coming-week-see-the-list/" rel="noopener noreferrer nofollow">token unlock is set</a> for March 16, with Ethereum’s Dencun Upgrade scheduled three days earlier. While some view these events optimistically for ARB, the <a href="https://cryptosheadlines.com/binance-destroys-2-65-billion-tokens-in-11th-bnb-burn/" rel="noopener noreferrer nofollow">token release could flood the market with 1.1 billion</a> tokens, potentially affecting ARB’s liquidity, volatility, and trading volume. Typically, such <a href="https://cryptosheadlines.com/aptos-and-avalanche-lead-450-million-in-november-token-unlocks/" rel="noopener noreferrer nofollow">token unlocks can lead</a> to price declines due to increased supply.<blockquote>Ahead of two important <a href="https://twitter.com/search?q&#61;%24ARB&amp;src&#61;ctag&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">$ARB</a> events next week, two whales 0x141 and 0xc99 jointly deposited 2.77M <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> ($5.94M) on <a href="https://twitter.com/hashtag/Binance?src&#61;hash&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> ~8hrs ago, allegedly realizing $3.29M in profit.Please take note of the dates of the 2 upcoming events that can impact the ARB price next week:•… <a href="https://t.co/gnDkqWtpAw" rel="noopener noreferrer nofollow">pic.twitter.com/gnDkqWtpAw</a>— Spot On Chain (&#64;spotonchain) <a href="https://twitter.com/spotonchain/status/1766630108347969779?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">March 10, 2024</a></blockquote>Despite potential downward pressure from the token unlock, the Dencun Upgrade offers a positive outlook, possibly reducing costs for Layer 2 projects like Arbitrum. Given the proximity of these events, any decline in ARB’s price may be mitigated by increased demand, minimizing the overall impact on the token’s value.<a href="https://cryptosheadlines.com/elon-musk-endorses-vc-bullishness-on-crypto-to-ai/" rel="noopener noreferrer nofollow">Also Read: Elon Musk Endorses VC Bullishness on Crypto to AI</a><h3 id="analysis-of-arb-price-trends-and-potential-scenarios">Analysis of ARB Price Trends and Potential Scenarios</h3>At the time of writing, ARB was trading at $2.10, marking a 3.04% decline in the past 24 hours, possibly influenced by recent whale sell-offs. However, this <a href="https://cryptosheadlines.com/chainlink-link-a-buy-the-dips-opportunity/" rel="noopener noreferrer nofollow">dip could present an opportunity</a> for buyers to acquire the token at a discounted rate.<h2 id="header-1">Cryptos Headlines Token Airdrop Is Live, Claim Instant 5000 CHT Tokens Worth Of $50 Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Binance-labs.png?fit&#61;850%2C480&amp;ssl&#61;1" />Examining the 4-hour ARB/USD chart reveals that buyers capitalized on seller exhaustion, establishing support at $2.07. Despite efforts to push the price higher, a new obstacle emerged at $2.15, representing overhead resistance.<img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/03/cryptosheadlines005-4.png?resize&#61;640%2C420&amp;ssl&#61;1" /><a href="https://www.tradingview.com/x/xppi0IwM/" rel="noopener noreferrer nofollow">ARB/USD</a> 4-Hour ChartShould ARB successfully surpass the $2.15 resistance level, it could pave the way for a <a href="https://cryptosheadlines.com/bitcoin-etfs-attracted-520-million-inflows-amid-btc-price-surge-toward-60000/" rel="noopener noreferrer nofollow">price surge towards</a> $3. However, failure to breach this barrier may result in a decline below $2.The Relative Strength Index (RSI) indicates bearish dominance, having dipped below the midpoint. However, signs suggest a potential break above this barrier, which could facilitate ARB’s advance beyond $2.15. Meanwhile, the Bollinger Bands (BB) suggest high volatility, implying wide price fluctuations.In a highly bullish scenario, ARB could achieve a new all-time high, contingent upon significant buying pressure and reduced liquidations. Conversely, in a bearish scenario, the token’s value might decline to $1.85.Important: 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.

ARB Price Prediction: How Token Unlock and Ethereum’s Upgrade Impact

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