Cryptocurrency Arbitrum Falls More Than 4% In 24 hours
Portfolio Pulse from Benzinga Insights
Cryptocurrency Arbitrum (ARB) experienced a 4.42% decrease in price over the last 24 hours, falling to $1.74, despite a 3.0% increase over the past week. The trading volume for ARB has risen by 10.0%, and its circulating supply has grown by 0.27% to over 1.27 billion, representing 12.75% of its maximum supply. Currently, ARB's market cap ranks it 42nd at $2.22 billion.
February 01, 2024 | 7:01 pm
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Arbitrum (ARB) has seen a 4.42% decrease in its price over the last 24 hours, moving down to $1.74, despite a recent uptrend. The trading volume has increased by 10%, and the circulating supply has grown slightly. ARB's market cap is now $2.22 billion, ranking it 42nd.
The short-term price impact for ARBUSD is likely negative due to the recent 4.42% decrease in price. This decline is significant despite the overall positive trend over the past week and the increase in trading volume, indicating potential volatility or market reaction to external factors. The increase in circulating supply could also contribute to price pressure. However, the asset's strong market cap position suggests underlying market confidence, moderating the negative impact.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100