- The network recorded the highest netflow among layer-one blockchains, outperforming peers like Solana and Sui Network.
- However, market sentiment remains bearish, with little indication of an imminent rally.
After briefly reclaiming a price above $1, supported by a 26.19% weekly rally, Arbitrum [ARB ($0.35)] has declined by 0.50% in the last 24 hours. This drop persists despite bullish activity on the chain.
Analysis by AMBCrypto suggests that declining interest from retail and whale investors is a key factor contributing to the asset’s recent downturn.
Price remains stagnant as chain activity spikes
Artemis data shows that Arbitrum, home to the ARB token, recorded a significant spike in Chain Netflow over the past 24 hours, reaching $16.6 million. This figure surpassed prominent layer-one blockchains like Solana and Sui Network.
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