- The Arbitrum Network integrated with the CelestiaOrg, making their technology available to Orbit chains.
- ARB volume peaked as social dominance and weighted sentiment staged a significant recovery.
It’s been ten days since the Aributrum [ARB] Layer 2 protocol emerged as the protocol with the highest liquidity. Fast forward to ten days later, and Arbitrum’s token ARB is trading 14.47% higher over the past seven days. According to data from CoinMarketCapARB was exchanging hands at $0.9008 at the time of writing and is up 1.51% over the past 24 hours.
However, that wasn’t the only thing ARB investors could look forward to. Arbitrum took to X (formerly known as Twitter) on October 25 to share an update with its community.
How much are 1,10,100 ARBs worth today?
Onwards and upwards for Arbitrum
According to Arbitrum’s post on Thanks to the aforementioned integration, developers can easily deploy a high-throughput Orbit and leverage Celestia’s modular DA layer.
Excited to welcome @CelestiaOrg to the Arbitrum ecosystem and make their technology available to Orbit chains! 🪐
Developers will soon be able to easily deploy a high-throughput Orbit chain that leverages Celestia’s modular DA layer, the first with Data Availability Sampling (DAS) 💙 https://t.co/HSK5cGVYxZ
— Arbitrum (💙,🧡) (@arbitrum) October 25, 2023
While these were the prospects in terms of network development, Arbitrum’s statistics also illustrated a positive outline for the network. Data from the intelligence platform Santiment pointed to a recovery in weighted sentiment and social dominance. A development in social dominance indicated a recovering investor faith in the altcoin.
Moreover, the recovery on the social dominance front was a confirmation that investor confidence in the altcoin regained its supremacy. Another thing that stood out was ARB’s volume, especially over the last two days.
On October 24, ARB’s volume reached its quarterly peak of 420.48 million. Note that positive price action combined with high volume indicated that investors were trading the token. However, at the time of writing, volume dropped to 244.47 million.
Source: Santiment
ARB’s ticket to the bull show
Although ARB’s figures leave a good impression, it is time we shift the focus to what ARB’s price indicators are telling us. And from what can be seen below, ARB’s price action screamed bullish.
Is your portfolio green? View the ARB Profit Calculator
The 12-hour chart showed ARB trading 0.37% higher than the opening price of the day. Moreover, the Moving Average Convergence Divergence (MACD) indicator moved above the zero line. The MACD line (blue) moved above the signal line (red) – a strong bullish indicator.
Source: TradingView
Furthermore, ARB’s Relative Strength Index (RSI) stood at 62.72, which was a clear indication that the buying pressure was in full swing. What made the ARB’s continued trend notable was that the RSI reached the overbought zone and fell to 62.41 on October 25.
However, at the time of writing, the RSI was rising slightly – a bright signal that buyers wouldn’t be going anywhere in the coming days.
