The crypto market is witnessing a surge in whale activity as large buy orders continue to be filled for Arbitrum ARB on Coinbase Pro. With volume skyrocketing from 200,000 to 3.5 million in just a few hours, all signs point to a bullish reversal. So why are crypto whales accumulating ARBs? Here are 5 reasons.
Whales accumulating Arbitrum
Arbitrum already cooperates with hundreds of protocols, as opposed to high-value ghost chains. Accordingly, this makes it an attractive choice for investors. On the other hand, its versatility covers DeFi and GameFi. It offers enormous growth potential. As a result, crypto whales seize the opportunity to accumulate ARB, triggered by various catalysts that have raised its price recently.
Locked total value (TVL) increase in ARB
The growth of Total Value Locked (TVL) in the Arbitrum ecosystem plays an important role in attracting investors. At the time of publication, ARB’s TVL reached $2.1 billion, beating its closest peer Optimism, with $976 million locked. Since then, Arbitrum’s TVL has increased by 9%. Optimism’s TVL decreased by 3%.
On-chain development powers ARB
On-chain development is an important indicator of value generation. Accordingly, Arbitrum stands out with more than 6,000 contracts, compared to Optimism’s nearly 1,000 contracts. This shows the robustness and active development in the Arbitrum ecosystem.
“Smart money” holds ARB
On-chain data shows that the “smart money” and funds that accumulated ARBs after the airdrop still hold their positions. It also reveals that it shows confidence in the future of the token. On the other hand, Ethereum addresses associated with high volume and profitable traders are defined as “smart money”. On the other hand, this further confirms the positive emotion surrounding ARB.
Growing daily users of Arbitrum ARB
The number of users actively interested in Arbitrum has been increasing steadily in recent months. This continued growth demonstrates the platform’s appeal and adoption by crypto enthusiasts.
Expansion of the Arbitrum ecosystem
Arbitrum is actively expanding its ecosystem by incorporating various projects. In particular, the recent release of Counter Fire, an Anime blockchain game, and Sharp Labs, a DeFi protocol generator, further strengthen the appeal and potential of ARB.
cryptocoin.com When we look at it as a whole, the accumulation of ARB by crypto whales and the catalysts that raise its price show the strength and growth potential of the Arbitrum ecosystem. With an increase in Total Value Locked, active on-chain development, and a steady increase in daily users, ARB looks poised for further success. Investors are watching these developments closely to take advantage of the bullish trend and the potential price increase of ARB.
