Arbitrum (ARB) Drops 14% After Token Release, Investors Remain Optimistic

Share on Facebook Share on Twitter

The Bottom Line

The cryptocurrency market recently experienced a notable movement when the Layer-2 (L2) token Arbitrum (ARB) recorded a dramatic drop of 14%, shortly after over a billion of its tokens were released. This development has caused a stir among both investors and market observers. But what does this mean for the future of ARB? Let’s take a look at the current events and analyze the possible impacts.

Causes of the Price Drop

On March 16 at 11 am UTC, ARB was listed at 1.9 USD according to CoinMarketCap. However, after the scheduled release of the tokens at 1 pm, the price began to fall dramatically, and ARB was traded at 1.65 USD at the time of writing this article. A large portion of the circulating supply of ARB, worth over 2 billion USD, was distributed to the team, future team members, and investors. Many recipients quickly seized the opportunity to profit from these tokens, leading to a significant price drop.

Reaction of Major Investors

Despite the price drop, data from Santiment shows that large ARB whales, i.e., holders of 100,000 to 100 million coins, significantly increased their holdings on the day of the release. This development suggests that some major investors are positive about ARB’s future prospects and see the current lower prices as a buying opportunity.

Market Activity and Address Growth

The token release also led to a significant increase in ARB’s on-chain activity. On March 16, about 330,000 unique addresses were active, 13,000 more than the previous day. In addition, the number of new addresses on the network jumped by 77%, indicating increased interest and broader acceptance of the token in retail.

Our Assessment

The recent developments around Arbitrum (ARB) show how quickly momentum in the crypto market can change. While the short-term price drop may be disappointing for some investors, the behaviour of major investors suggests there is reason for optimism. It remains to be seen whether these bullish signals will be sufficient to stabilize or even increase the price of ARB in the near future. Investors should closely monitor market developments and carefully weigh their investment decisions.

Sources: CoinMarketCap, Santiment, Spot On Chain

Share on Facebook Share on Twitter

The 3 best cryptocasinos

Up to 1 BTC + 100 Free Spins
Welcome bonus
BETSFTD
99 /100
Excellent
Cryptocurrencies (12)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Ripple XRP Logo
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
Bets.io review
Bonus Information Bets.io
Wagering requirements 40x bonus
40x free spins winnings
Minimum deposit 20 USDT or equivalent
Maximum bet 2 USDT
Bonus validity 30 days to claim
14 days to wager
  • Max bonus: 1 BTC • 150 BCH • 17 ETH • 333 LTC • 600,000 DOGE • 30,000 USDT • 42,857 XRP • 428,571 TRX • 100,000 ADA • 125 BNB • 30,000 BUSD • 30,000 USDC
  • Maximum bet per round: 0.000066 BTC • 0.01 BCH • 0.0011 ETH • 0.02 LTC • 40 DOGE • 2 USDT • 2.8 XRP • 25 TRX • 6.6 ADA • 0.008 BNB • 2 BUSD • 2 USDC • 3 CAD
  • Free spins are credited on “Max Miner” by Gamebeat.
How did we rate this casino

Bets.io is our number 1 among crypto casinos because they have kept everything great about Dama Casinos, such as their excellent game selection and well-known reliability, while eliminating the frustrating KYC processes and traditional payment methods that can hinder the full crypto casino experience.

Author & Responsibility: Steven Harper
Last update by Isabella Brown on 4. April 2024
Curaçao License
Curaçao
Licence
100% up to 1 BTC
Welcome bonus
99 /100
Excellent
Cryptocurrencies (9)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
Metaspins review
Bonus Information Metaspins
Wagering requirements 40x bonus
Minimum deposit 0,1 mBTC
Maximum bet $5 per spin
Bonus validity 7 days to wager
  • Max bonus amount: 1 BTC/10 ETH/10,000 USDT/10,000 USDC/100 BCH/200,000 TRX/35,000 ADA/150 LTC/125,000 DOGE
  • There is no cap on winnings or withdrawals.
How did we rate this casino

Metaspins is still a very young crypto casino, but it can already convince with a very modern website, a good selection of games and, above all, an excellent bonus.

Isabella Brown
Author & Responsibility: Isabella Brown
Last update by Miguel Díaz Ocampo on 18. April 2024
Curaçao License
Curaçao
Licence
100% up to 1 BTC + 100 Free Spins
Welcome bonus
KC100
99 /100
Excellent
Cryptocurrencies (9)
  • Bitcoin Logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Ripple XRP Logo
  • Tether (USDT) Logo
  • tron-logo
Empire.io review
Bonus Information Empire.io
Wagering requirements 40x bonus
40x free spins winnings
Minimum deposit 20 USDT
Maximum bet €5 per round
Bonus validity 10 days to claim
Bonus currency USDT, ETH, Doge, TRX, BUSD, LTC, XRP or BNB
  • Max bonus: 1 BTC / 10,000 USDT / 10 ETH / 130,000 DOGE / 35,000 TRX / 10,000 BUSD / 120 LTC / 20,000 XRP/ 40 BNB.
  • Switch your wallet to mBTC (μBTC), USDT, ETH, DOGE, TRX, BUSD, LTC, XRP or BNB to use the offer.
  • The free spins are given on Sweet Bonanza.
How did we rate this casino

We absolutely recommend Empire.io since it has one of the best crypto teams we know behind it. On top of that, it offers an extensive selection of slots and live games. The bonus is also exceptional with good conditions.

Author & Responsibility: Gregor Ziegler
Last update by Isabella Brown on 22. April 2024
Curaçao License
Curaçao
Licence

Latest News

Paula Winkler

Created by

After over 6 years in print journalism, I stumbled into the iGaming niche in 2017. One thing became evident to me quickly: Online Casino Reviews need more transparency! I joined the Kryptocasinos.com Team in 2023 and are the main expert for all topics related to „Player Security“.
In my private life, I am an active member of the volunteer fire department and enjoy the outdoors with my dog Ruby.
Reviewed by
Nerd of Numbers

Last update: 19. March 2024

kryptocasinos.com Logo Advertising transparency

We are independent, transparent and funded by revenue we generate when you sign up at a casino through us.

Our goal is to help you make better decisions when choosing a casino by offering different information, providing filters and comparison tables, and publishing objective content. Thus, we give you the opportunity to research for free, compare casinos and make your decision based on that.

We cannot guarantee that a casino that is very good for us will fit your type of player and your circumstances.

Why trust us?

We work according to transparent editorial guidelines and disclose our testing methods as well as funding. This article may contain links to our partners, but this does not influence our objective view in any way.

🍪
We use cookies. By using this site, you accept them.
CoinKings.io - 100% unlimited Uncapped bonus for new customers Show Bonus
Bets.io
Up to 1 BTC + 100 Free Spins
Welcome bonus
Claim bonus