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Uncategorized

Arbitrum Plummets Over 12% Amid Altcoin Market Turmoil

April 19, 2023 - Around 2 mins mins to read

Key Points:

  • Arbitrum’s recent surge reversed, falling 12.69% in 24 hrs.
  • Bitcoin fell below $30k, pulling altcoins down with it, including ARB.
  • 23 whale accounts hold over 1M ARB tokens; despite weekly surge, token price is 94.18% lower than 30 days ago.
Arbitrum (ARB) has recently experienced a significant drop in value, plummeting by 12.69% over the last 24 hours.
Arbitrum Plummets Over 12% Amid Altcoin Market Turmoil
Source: TradingView

This decline coincided with Bitcoin’s (BTC) fall below the $30,000 mark, dragging many altcoins, including ARB, down with it.

However, it’s worth noting that just one week before this writing, on April 12, ARB was being traded at around $1.167. Interestingly, the token’s value started to surge after that, reaching as high as $1.795 on April 18, marking an impressive 53% increase in just six days. Many whales also noticed this surge, as data from April 18 revealed that whales have been trading Arbitrum throughout the week of April 10-17.

In fact, as of April 18, 23 whale accounts were holding over 1 million ARB tokens. During that week, a total of nine whale wallets cumulatively bought 12.4 million ARB tokens priced between $1.2 and $1.5. Meanwhile, three whales sold a total of 22.8 million ARB valued between $1.37 and $1.69.

Despite the weekly surge in ARB’s value, it’s important to note that data indicates the token’s price is still 94.18% lower than it was 30 days ago. This means that while the recent increase in value is certainly noteworthy, it’s important to remember that the token has a long way to go before it can reach its previous value.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Annie

Coincu News

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Uncategorized

Arbitrum Plummets Over 12% Amid Altcoin Market Turmoil

Key Points:

  • Arbitrum’s recent surge reversed, falling 12.69% in 24 hrs.
  • Bitcoin fell below $30k, pulling altcoins down with it, including ARB.
  • 23 whale accounts hold over 1M ARB tokens; despite weekly surge, token price is 94.18% lower than 30 days ago.
Arbitrum (ARB) has recently experienced a significant drop in value, plummeting by 12.69% over the last 24 hours.
Arbitrum Plummets Over 12% Amid Altcoin Market Turmoil
Source: TradingView

This decline coincided with Bitcoin’s (BTC) fall below the $30,000 mark, dragging many altcoins, including ARB, down with it.

However, it’s worth noting that just one week before this writing, on April 12, ARB was being traded at around $1.167. Interestingly, the token’s value started to surge after that, reaching as high as $1.795 on April 18, marking an impressive 53% increase in just six days. Many whales also noticed this surge, as data from April 18 revealed that whales have been trading Arbitrum throughout the week of April 10-17.

In fact, as of April 18, 23 whale accounts were holding over 1 million ARB tokens. During that week, a total of nine whale wallets cumulatively bought 12.4 million ARB tokens priced between $1.2 and $1.5. Meanwhile, three whales sold a total of 22.8 million ARB valued between $1.37 and $1.69.

Despite the weekly surge in ARB’s value, it’s important to note that data indicates the token’s price is still 94.18% lower than it was 30 days ago. This means that while the recent increase in value is certainly noteworthy, it’s important to remember that the token has a long way to go before it can reach its previous value.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Annie

Coincu News