Ethereum-based layer (L2) scaling solution, Arbitrum has been trading downward recently. Arbitrum price hovered at $0.6907 during the European trading hours, making a dip of 3%. Should bulls fail to overcome this selling pressure, the chances of ARB sliding will increase drastically.
According to CoinMarketCap data, its current market capitalization is about $2 million, ranking it 39th in market cap among cryptocurrencies. This comes amid significant trading activity, with a 23% increase in 24-hour trading volume, reaching approximately $190 million.
Arbitrum Price Bearish Market Looms
Over the past week, ARB has been trading in a range bound between $0.6825 and $0.733, showcasing a notable increase of 17% in its value. The cryptocurrency reached its all-time high of $2.40 six months ago but has since declined significantly, currently trading around $0.69.
Despite this decline, The recent performance indicates a positive trend, recovering from its all-time low of $0.5773, recorded
We współpracy z: https://coingape.com/markets/why-arbitrum-price-may-fall-again-after-short-lived-uptrend/
