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Recently, Frission, an ARB delegate, proposed that 50% of surplus sequencer fees should be allocated to ARB holders who participate in staking and delegating the token. The proposal aims to encourage ARB holders to participate more actively in the protocol governance. Let’s have a look at Arbitrum’s on-chain analytics. Wallet to Wallet Activity of ARB Surges While Other Declines Arbitrum has a total supply of 10 billion tokens, of which 3.2 billion are circulating in the market. As per CoinMarketCap, the cruisers hold over 80.25% of the supply while holders have 7.25%. It has a total of 1.22 million holders, which has seen a slight surge in the past few weeks. Source: Arbitrum active addresses By Artemis Arbitrum has been observing a strong surge in the daily active addresses. The daily surge of active addresses has been near 150k over the last few weeks. Meanwhile, the average daily transaction volume of the protocol is nearly 2 million.  The active addresses of the protocol have been observing an increase in wallet-to-wallet activity in the last few weeks. Source: ARB TVL By DefiLlama Arbitrum TVL has been consolidating for the past few weeks. At press time, TVL was around $2.73 Billion after seeing a drop from $3 Billion. The average inflow to the protocol was hovering near the $17.2 Million mark in the past few weeks. Will ARB Price Fall Below its All Time Low? adarshmergent on TradingView.com At press time, Arbitrum had a market cap of $2.6 Billion and was ranked 33rd in the crypto-verse. The volume of the asset price recorded a 38% plus drop intraday. ARB was trading near $0.82, dropping 1.29% in the intraday session. ARB token price is currently forming weak consolidating candles on the daily chart. It is trading below the 50 and 100 daily moving…

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Filed under: News - @ June 26, 2024 4:12 pm