The post Arbitrum’s Recent Surge Suggests Possible Trend Reversal Amid Whale Accumulation and Rising dApp Volumes appeared on BitcoinEthereumNews.com.

Arbitrum’s recent surge in decentralized exchange (DEX) volumes has seen it outperform its closest competitor, Base, highlighting the platform’s growing dominance. Whale accumulation of 10 million ARB tokens over just two days signifies strong interest and potential bullish sentiment in the market. According to IntoTheBlock, despite the recent uptick, 80% of ARB holders are currently “Out of the Money,” indicating the challenges faced by the asset even as interest grows. Arbitrum’s DEX volumes surpass those of Base, signaling potential bullish momentum as whale accumulation increases, even amid prevailing bearish trends. Whales accumulate 10M ARB tokens Arbitrum whales have increased their activity lately, after large transaction volumes climbed by 38% in 24 hours to 85.9M ARB. Much of this surge stems from whale accumulation, as depicted by rising large holder inflows. Over the last two days, large addresses have accumulated 10M ARB tokens – a sign of positive momentum. This accumulation also coincided with the recent gains, an indication that whale buying has been driving the uptrend. (Source: IntoTheBlock) Whales make up 47% of Arbitrum’s total supply. Therefore, if this cohort is buying, it is bound to have a significant effect on the price. Rising dApp volumes could fuel the rally According to DappRadar, volumes for decentralized applications (dApps) created on the Arbitrum layer two network have risen by 121% in just 24 hours to $1.27 billion. The transaction count also climbed by 16% to 143,000. DeFiLlama further revealed that Arbitrum flipped its top rival, Base, by decentralized exchange (DEX) volumes. At press time, Arbitrum’s DEX volumes stood at $1.26 billion, slightly higher than Base network’s $1.25 billion. An uptick in network activity is good for the price as it could fuel demand. If these volumes continue to climb, it could also support a sustained long-term uptrend for ARB. Can Arbitrum…

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Filed under: News - @ January 25, 2025 4:21 am