Arbitrum ($ARB ) has seen significant developments recently with a number of updates and interesting future predictions:
1. Latest news:
- Arbitrum saw an increase in daily transaction volume after a massive distribution of the coin to around 600,000 wallets, pushing daily transaction volume to over 2.7 million in one day.
- Future collaborations with other protocols such as Cardano and Mina Protocol are predicted for 2024, enhancing integration between platforms and increasing potential benefits.
- Major companies like Square Enix have announced plans to use Arbitrum to reduce gas costs when issuing NFTs on Entertainment Networks.
2. Future expectations:
- ARB price forecast for 2024 indicates that the price could reach around $2.72 if the uptrend continues, and could reach higher levels of up to $5 if positive market momentum continues.
Some analysts expect ARB to achieve significant gains of up to 20-25 times within the next year, relying on upcoming improvements in the Ethereum network (EIP 4844) that are expected to reduce transaction costs and enhance Arbitrum's usage.
3. Technical analysis:
- The charts show the formation of a bullish technical pattern indicating the possibility of a positive price reversal. If this pattern continues, the price could reach resistance levels between $2 and $4.92.
Overall, Arbitrum (ARB) appears to be well positioned for notable growth in the near future, supported by technical developments and ongoing strategic partnerships. However, as with all investments in cryptocurrencies, caution and necessary research are advised before making any investment decisions.
