Look at some excellent projects that can benefit from Arbitrum's short-term incentive program $ARB within the DAO community. It has already launched an incentive program for the $ARB protocol built on it.

If the proposal is approved, approximately $50 million ARB will be allocated to the projects. However, it requires 2 rounds of voting, which is expected to end on January 31, 2024. One of the project's key goals is to increase user engagement and boost trading volume, transaction volume, and liquidity in the Arbitrum ecosystem.

At present, more than 100 projects have submitted proposals for the program. Some projects with positive on-chain activity and a Firechart price include $JOE, $GMX, and $QI.

=> If you focus on growth in terms of quantity, benefiting from features like liquid staking and staking, the chart line will develop positively.

Adding on: JOE, which I didn’t explain in detail yesterday

$JOE was one of the most popular Avalanche items in the 2021 season. The item has been forgotten for quite a long time, and the Avax system hasn’t had much information or standout activity. But...

1/ $JOE has started operating the ARB chain and has also submitted a proposal for an $ARB incentive program. Over 27 million $ARB were used to vote in support of the project, accounting for 96.31%.

2/ Over the past 7 days, $JOE attracted 7,071,319 $JOE (1.8 million USD) through staking and liquid staking. Notably, a Binance hot wallet withdrew 2,000,000 $JOE and transferred it to the wallet address 0xe22...383c2 for staking. It then withdrew another 79,776 $JOE from Binance and transferred it to a highly active address

3/ The project wallet also transferred 4,000,000 $JOE to Stake yesterday. Especially on August 21: after one week, the project wallet transferred Stake again. The price of $JOE has risen 55% from the bottom.

Summary:

1/ Binance contributed by increasing liquidity for the JOE-USDC trading pair on TraderJoe.

2/ The project wallet also holds $JOE for platform staking.

3/ $JOE participated in the first round of the ARB incentive program, with an extremely high win rate of up to 96%. With the above information, we should pay attention to $JOE, as it may see strong growth in the near future.

A token that will skyrocket next week

Is Wintermute planning to lower the price of $ARKM?

1/ $ARKM is currently held by Binance, Wintermute, GSR, and Upbit, accounting for 86.46% of the total circulating supply.

2/ I checked the on-chain status of these wallet addresses, and it’s clear that only Wintermute has recently manipulated the price on the $ARKM chart. Although Binance, GSR, and Upbit still keep the full amount of $ARKM in on-chain wallets,

3/ Wintermute has deposited almost all $ARKM tokens onto exchanges. Specifically, Wintermute has deposited a total of 9,290,000 $ARKM to Binance.

4/ Get a more complete understanding through the chart! Typically, Wintermute’s strategy is to push down for a period of time, drive the price up, and then start distributing. When it first listed, the price rose by 16%. We can see that Wintermute pushed again with 5,000,000 $ARKM to the floor, and the price fell back to the bottom of the previous upswing. Wintermute’s average entry price is about $0.36. After pushing up by 16% and distributing, Wintermute’s currently estimated total profit/loss is around $800,000.

5/ Here’s the unreasonable part: there are 4 MMs holding the same thing—Wintermute has such a negative impact on the price line, but the remaining 3 still haven’t moved to the floor and caused interference. --> This proves they are cooperating to suppress the price.

- At the same time, on the chart line, there is a double-bottom area around the 0.345 zone. The sideways range for $ARKM is $0.32 to $0.45. In my view, the price will drop to about $0.33-$0.35 to get rid of the influence from the last batch of spot and futures. When I wrote this article, its price had already started to fall.

6/ Considering liquidation! The $ARKM liquidation chart returns to Binance! The number of liquidity longs on Binance is currently the highest among all exchanges. The bulk liquidated price is $0.34

7/ Looking at the heat chart: after strong consolidation and a sudden 5% drop, the buying power of the 10k-100k orders is very strong. Retail has basically been eliminated.

CVD has dropped to -400k--800k. This means that if the price rises by 16%, retail traders will lose money, or close their positions when the bottom is reached.

Summary:

I checked the bottoms of the small fluctuations in the $0.37 area. For now, I’ll set a long limit order at $0.335. When the market improves, the price will rise sooner or later. If MM wants to push up the coin price, it has to look at $BTC. According to my schedule, next week $ARKM will see an upswing. High risk, high reward.