With the broader market still playing dead at $74,000, $ARB surged 8% today, climbing back to $0.18. Its 24-hour high was $0.1877, and it’s up 15% over the past 7 days—the strongest performer in the top 50 today.
There are reasons on-chain: stablecoin market cap on Arbitrum grew by a net $43.6 million in 24 hours, the biggest increase among all public blockchains. A new perpetuals market launched on November 8, and today it also rolled out NullMaskio, a private transfer feature.
Let’s do the math: Buy 10,000 U at yesterday’s close of $0.1662, and it’s worth about 10,630 U now. If you’d bought at yesterday’s low of $0.1598, it would have been worth about 11,760 U when the price surged to $0.188 intraday. Those who thought it was too expensive yesterday are asking today whether it’s still worth chasing.
A word of caution: this rally wasn’t triggered by any single catalyst, and an unlock is coming on November 16. With a market cap of about $1.24 billion—still 92% below its all-time high of $2.39—there’s only a fine line between chasing the rally and buying the dip here. #Arbitrum #Layer2
There are reasons on-chain: stablecoin market cap on Arbitrum grew by a net $43.6 million in 24 hours, the biggest increase among all public blockchains. A new perpetuals market launched on November 8, and today it also rolled out NullMaskio, a private transfer feature.
Let’s do the math: Buy 10,000 U at yesterday’s close of $0.1662, and it’s worth about 10,630 U now. If you’d bought at yesterday’s low of $0.1598, it would have been worth about 11,760 U when the price surged to $0.188 intraday. Those who thought it was too expensive yesterday are asking today whether it’s still worth chasing.
A word of caution: this rally wasn’t triggered by any single catalyst, and an unlock is coming on November 16. With a market cap of about $1.24 billion—still 92% below its all-time high of $2.39—there’s only a fine line between chasing the rally and buying the dip here. #Arbitrum #Layer2
