The ARB token has been in a consistent downturn since its airdrop in March, but the ecosystem shows healthy growth, with daily active users, gas fees, and transaction count consistently higher since April 2023. The upcoming Cancun-Deneb update on Ethereum will reduce transaction fees on Arbitrum, increasing the blockchain’s value proposition. The Arbitrum Foundation has passed on the sequencer’s earnings, totaling 3,352 Ether (ETH), or $5.4 million, to the Arbitrum DAO, potentially creating yields for ARB holders.
– ARB token has been in a consistent downturn since its airdrop in March
– Daily active users, gas fees, and transaction count consistently higher since April 2023
– Upcoming Cancun-Deneb update on Ethereum will reduce transaction fees on Arbitrum
– The Arbitrum Foundation has passed on the sequencer’s earnings, totaling 3,352 Ether (ETH), or $5.4 million, to the Arbitrum DAO
– “Smart money” and funds that accumulated ARB after the airdrop still haven’t sold
– Funding rates for ARB perpetual swap contracts turned negative after SEC lawsuits against Binance and Coinbase
– ARB/USD pair has observed a downward trend since the token’s launch in March
– ARB broke below May’s low of 0.00057 ETH after the SEC’s lawsuits
– The upcoming Dencun update on Ethereum and decisions taken by the Arbitrum Foundation will ultimately dictate ARB’s price action.
