{"id":300007,"date":"2023-03-25T23:00:26","date_gmt":"2023-03-25T17:30:26","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=300007"},"modified":"2023-03-25T20:46:41","modified_gmt":"2023-03-25T15:16:41","slug":"arbitrum-arb-debut-hit-by-sell-offs-whats-next-for-the-token","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/arbitrum-arb-debut-hit-by-sell-offs-whats-next-for-the-token\/","title":{"rendered":"Arbitrum [ARB]: Debut hit by sell-offs, what&#8217;s next for the token?"},"content":{"rendered":"<ul>\n<li><em>ARB&#8217;s value has dropped by over 85% since launch.<\/em><\/li>\n<li><em>Daily transactions count on Arbitrum have begun its downward trend.\u00a0<\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Arbitrum&#8217;s [ARB] value has taken a hit after the token AirDrop on 23 March, with a surge in sell-off activity. According to the on-chain data provider <\/span><span style=\"font-weight: 400;\">Glassnode<\/span><span style=\"font-weight: 400;\">, the decline in value commenced soon after ARB was made available for trading across exchanges.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The <a href=\"https:\/\/twitter.com\/hashtag\/Arbitrum?src=hash&amp;ref_src=twsrc%5Etfw\">#Arbitrum<\/a> airdrop \ud83d\udcb8 has seen a massive sell-off, with <a href=\"https:\/\/twitter.com\/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ARB<\/a> losing roughly 80% after 30 mins upon being listed. Out of the 600k eligible wallets, only a handful got lucky on <a href=\"https:\/\/twitter.com\/hashtag\/uniswap?src=hash&amp;ref_src=twsrc%5Etfw\">#uniswap<\/a> <a href=\"https:\/\/t.co\/N4xX0Pd33O\">pic.twitter.com\/N4xX0Pd33O<\/a><\/p>\n<p>&mdash; glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/1639333031864582151?ref_src=twsrc%5Etfw\">March 24, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p style=\"text-align: center;\">Realistic or not, here\u2019s\u00a0<a href=\"http:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">ARB market cap in BTC\u2019s terms<\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Trading at $1.25 at press time, ARB\u2019s price has dropped by 89% since its launch two days ago, data from CoinMarketCap showed.\u00a0<\/span><\/p>\n<h3><b>After the hype comes the decline\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">In the weeks leading up to the token AirDrop, Arbitrum witnessed a significant increase in its user base, with over 400,000 new users added in just two weeks, according to data from <\/span><a href=\"https:\/\/dune.com\/Henrystats\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Dune Analytics<\/span><\/a><span style=\"font-weight: 400;\">. This took the cumulative user base on the network to over 3 million.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, the Ethereum [ETH] Layer 2 scaling system recorded a significant surge in daily transactions on 23 March following the AirDrop, According to data from <\/span><a href=\"https:\/\/arbiscan.io\/chart\/tx\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Arbiscan<\/span><\/a>.<\/p>\n<p><span style=\"font-weight: 400;\">Arbitrum also recorded a new daily high of 2.73 million transactions on 23 March, surpassing the previous high of 1.10 million transactions registered on 21 February.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, with increased ARB token sell-off and the gradual dissipation of the hype surrounding the token-launch event, daily transactions count on Arbitrum have trended downwards in the last two days. As of 24 March, the chain saw a total count of 1.82 million transactions, representing a 33% decline in just 24 hours.\u00a0<\/span><\/p>\n<figure id=\"attachment_300019\" aria-describedby=\"caption-attachment-300019\" style=\"width: 853px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/chart-4.png\"><img decoding=\"async\" class=\"wp-image-300019 \" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/chart-4.png\" alt=\"\" width=\"853\" height=\"782\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/chart-4.png 1200w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/chart-4-300x275.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/chart-4-1024x939.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/chart-4-768x704.png 768w\" sizes=\"(max-width: 853px) 100vw, 853px\" \/><\/a><figcaption id=\"caption-attachment-300019\" class=\"wp-caption-text\">Source: Arbiscan<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">With many letting go of their airdropped ARB tokens to cash in quick gains, the number of ARB unique holders dwindled in the past two days. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to data from <\/span><a href=\"https:\/\/dune.com\/blockworks_research\/arb-airdrop\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Dune Analytics<\/span><\/a><span style=\"font-weight: 400;\">, the number of unique ARB holders rallied to a high of 291,000 on 24 March, after which it plummeted. As of this writing, the metric stood at 256,000.<\/span><\/p>\n<figure id=\"attachment_300018\" aria-describedby=\"caption-attachment-300018\" style=\"width: 1374px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-25-at-07.01.42.png\"><img decoding=\"async\" class=\"wp-image-300018 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-25-at-07.01.42.png\" alt=\"\" width=\"1374\" height=\"760\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-25-at-07.01.42.png 1374w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-25-at-07.01.42-300x166.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-25-at-07.01.42-1024x566.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-25-at-07.01.42-768x425.png 768w\" sizes=\"(max-width: 1374px) 100vw, 1374px\" \/><\/a><figcaption id=\"caption-attachment-300018\" class=\"wp-caption-text\">Source: Dune Analytics<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Interestingly, despite the waning desire to hold on to ARB token, and a steep fall in transactions count on the network, Arbitrum\u2019s total value locked (TVL) rose by 2% in the last two days. At press time, the Layer 2 scaling system\u2019s TVL was $2.13b, per data from <\/span><a href=\"https:\/\/defillama.com\/chain\/Arbitrum\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">DefiLlama<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n<figure id=\"attachment_300023\" aria-describedby=\"caption-attachment-300023\" style=\"width: 1606px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-25-at-07.05.40.png\"><img decoding=\"async\" class=\"wp-image-300023 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-25-at-07.05.40.png\" alt=\"\" width=\"1606\" height=\"754\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-25-at-07.05.40.png 1606w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-25-at-07.05.40-300x141.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-25-at-07.05.40-1024x481.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-25-at-07.05.40-768x361.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Screenshot-2023-03-25-at-07.05.40-1536x721.png 1536w\" sizes=\"(max-width: 1606px) 100vw, 1606px\" \/><\/a><figcaption id=\"caption-attachment-300023\" class=\"wp-caption-text\">Source: DefiLlama<\/figcaption><\/figure>\n<h3><b>Optimism is not any better<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Since the conclusion of its <\/span><a href=\"https:\/\/help.optimism.io\/hc\/en-us\/articles\/8863837297563-What-are-Optimism-quests-#:~:text=Season%201%20of%20Quests%20will%20run%20until%20January%2017%2C%202023.\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Optimism Quests<\/span><\/a> <span style=\"font-weight: 400;\">program on 17 January, Layer 2 network Optimism has suffered a steep decline in daily transactions count.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In September 2022, Optimism launched &#8220;Optimism Quests,&#8221; a set of 18 tasks aimed at guiding users through various features on the network, including swapping, lending, and staking. During this program, daily transactions on the Layer 2 network steadily increased, culminating in a record high of 760,000 transactions on 12 January, just before the program&#8217;s conclusion.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">How much are\u00a01,10,100 ARBs worth today?<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">This marked the network&#8217;s most significant daily transaction volume since its launch two years ago, according to data from <\/span><a href=\"https:\/\/optimistic.etherscan.io\/chart\/tx\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Etherscan<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Since the program ended, the number of daily transactions on Optimism has fallen by 67%. In fact, while Arbitrum saw a momentary surge in daily transactions count following its token launch, Optimism has since seen an 11% fall in daily transactions.\u00a0<\/span><\/p>\n<figure id=\"attachment_300030\" aria-describedby=\"caption-attachment-300030\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/chart-1-1.png\"><img decoding=\"async\" class=\"wp-image-300030 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/chart-1-1.png\" alt=\"\" width=\"1200\" height=\"1100\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/chart-1-1.png 1200w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/chart-1-1-300x275.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/chart-1-1-1024x939.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/chart-1-1-768x704.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption id=\"caption-attachment-300030\" class=\"wp-caption-text\">Source: Etherscan<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>ARB&#8217;s value has dropped by over 85% since launch. Daily transactions count on Arbitrum have begun its downward trend.\u00a0 Arbitrum&#8217;s [ARB] value has taken a hit after the token AirDrop on 23 March, with a surge in sell-off activity. According to the on-chain data provider Glassnode, the decline in value commenced soon after ARB was<a href=\"https:\/\/ambcrypto.com\/arbitrum-arb-debut-hit-by-sell-offs-whats-next-for-the-token\/\">Continue reading <span class=\"sr-only\">&#8220;Arbitrum [ARB]: Debut hit by sell-offs, what&#8217;s next for the token?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":64,"featured_media":300036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-300007","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Arbitrum [ARB]: Debut hit by sell-offs, what&#039;s next for the token? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Arbitrum ARB&#039;s value has taken a hit after the 23 March token airdrop, with a surge in sell-off activity observed.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/arbitrum-arb-debut-hit-by-sell-offs-whats-next-for-the-token\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Arbitrum [ARB]: Debut hit by sell-offs, what&#039;s next for the token? - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"ARB&#039;s value has dropped by over 85% since launch. Daily transactions count on Arbitrum have begun its downward trend.\u00a0 Arbitrum&#039;s value has taken a hit\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/arbitrum-arb-debut-hit-by-sell-offs-whats-next-for-the-token\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-25T17:30:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/AMBCrypto_A_chart_displaying_the_volatile_movement_of_the_ARB_t_e0f23e40-dab7-40e1-9727-5e933840c731.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Abiodun Oladokun\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/0xAbiodun\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Abiodun Oladokun\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/arbitrum-arb-debut-hit-by-sell-offs-whats-next-for-the-token\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/arbitrum-arb-debut-hit-by-sell-offs-whats-next-for-the-token\\\/\"},\"author\":{\"name\":\"Abiodun Oladokun\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/448f3184b94221384fedfce7a5981ea2\"},\"headline\":\"Arbitrum [ARB]: Debut hit by sell-offs, what&#8217;s next for the token?\",\"datePublished\":\"2023-03-25T17:30:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/arbitrum-arb-debut-hit-by-sell-offs-whats-next-for-the-token\\\/\"},\"wordCount\":544,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/arbitrum-arb-debut-hit-by-sell-offs-whats-next-for-the-token\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/AMBCrypto_A_chart_displaying_the_volatile_movement_of_the_ARB_t_e0f23e40-dab7-40e1-9727-5e933840c731.jpg\",\"articleSection\":[\"Altcoin\",\"News\",\"News 1\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/arbitrum-arb-debut-hit-by-sell-offs-whats-next-for-the-token\\\/#respond\"]}],\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/arbitrum-arb-debut-hit-by-sell-offs-whats-next-for-the-token\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/arbitrum-arb-debut-hit-by-sell-offs-whats-next-for-the-token\\\/\",\"name\":\"Arbitrum [ARB]: Debut hit by sell-offs, what's next for the token? 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