Arbitrum has emerged as a leading competitor within the Ethereum network’s Layer 2 scaling solutions. However, between September 9 and September 11, the price of Arbitrum (ARB) token dropped a whopping 14.5%, marking its lowest point in history.
Investors are questioning whether Arbitrum still has a competitive advantage. Especially considering the performance of ARB and TVL tokens with valuations exceeding $1.6 billion.
Lookonchain has previously noticed A whale withdrew its ARB tokens from Aave’s lending platform and transferred some to Binance.
Arbitrum’s TVL also dropped significantly to $1.67 billion. This is the lowest level since mid-February.
A drop of more than 25% in the past two months raises several concerns. This indicates a loss of investor confidence. This slowdown reduces liquidity and undermines the overall viability of projects. It may also deter new entrants. This hinders the growth and acceptance of the network.
refer : cointelegraph
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