ARBUSDT on TradingView.com<\/a><\/figcaption><\/figure>\nFeatured image from Shutterstock, chart from TradingView.com\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"Arbitrum (ARB), a prominent Layer 2 (L2) protocol, has emerged as one of the top gainers in the past month, experiencing a remarkable surge of 59%. Over the past 7 days, the token has grown substantially over 31%, propelling it to reach a new all-time high (ATH) of $1.8391 on Monday.\u00a0 Arbitrum\u2019s Market Capitalization Surges To $2.21 Billion The impressive price surge of ARB reflects the growing interest in the protocol and its native token within the Layer 2 ecosystem. This surge is evident when examining the data provided by Token Terminal, a leading analytics platform.\u00a0 According to Token Terminal’s data, Arbitrum’s market capitalization (circulating) is $2.21 billion, marking a significant increase of 56.18%.\u00a0 Additionally, the revenue generated by the protocol over the past 30 days amounts to $11.31 million, representing a substantial surge of 87.74%.\u00a0 Related Reading: Dogecoin Is Bullish? Crypto Analyst Gives Reasons Why Investors Should Pay Attention The fully diluted market capitalization is $17.33 billion, reflecting the market’s positive sentiment toward the protocol’s potential. The revenue on an annual basis reaches $137.63 million, exhibiting an impressive growth of 106.63%. Moreover, the strong performance of the market indicators, such as the P\/F ratio (fully diluted) at 125.95x and the P\/S ratio (fully diluted) at 125.95x, indicate robust investor confidence.\u00a0 The fees generated by the protocol over the past 30 days amount to $11.31 million, representing a significant increase of 87.74%. Additionally, the annualized fees reached $137.63 million, demonstrating a substantial growth of 106.63%.\u00a0 Furthermore, the data reveals that Arbitrum has a strong user base, with an average of 153,3100 active daily users over the past 30 days, highlighting its popularity and adoption.\u00a0Even more encouraging is that a prominent crypto analyst foresees continued growth in price action for ARB. Clear Uptrend In ARB Signals Potential Breakout Renowned crypto analyst Michael van De Poppe has identified a clear and promising uptrend in the cryptocurrency ARB.\u00a0 Through his technical analysis, van de Poppe observes that the token has been consistently experiencing \u201cbeautiful retests\u201d of previous resistance levels, which have now transformed into strong support zones. Related Reading: Bitcoin\u2019s Road To Record Heights: Analysts Forecast Post-Halving Surge If the current price trajectory continues, Michael van De Poppe suggests that investors should keep an eye on a potential optimal \u201cgo-to zone\u201d for ARB between $1.50 and $1.60.\u00a0 This zone represents a strategic level where the token may experience a retest before deciding to break the psychological barrier of $2. It remains to be seen if this prediction will come true and how ARB’s price action will develop through the first half of 2024. Featured image from Shutterstock, chart from TradingView.com\u00a0<\/p>\n","protected":false},"author":589,"featured_media":567764,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[88023,88121,88069,84309,88119,88136,88169,88135,91040,88509,89363,88120,88077,6664,1558],"class_list":["post-567763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-arb","tag-arb-analysis","tag-arb-price","tag-arbitrum","tag-arbitrum-arb","tag-arbitrum-blockchain","tag-arbitrum-foundation","tag-arbitrum-l2","tag-arbitrum-news","tag-arbitrum-performance","tag-arbitrum-price","tag-arbusd","tag-arbusdt","tag-crypto","tag-cryptocurrency"],"acf":[],"yoast_head":"\n
Arbitrum (ARB) Maintains Impressive 30% Price Uptrend, Analyst Predicts Breakout Above $2<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n