Arbitrum (ARB) Falls by 12%, Following Bitcoin’s Dip Below $30,000
According to data from CoinMarketCap, ARB experienced a decline of 12.69% in the past 24 hours after its recent surge.
This decrease was observed alongside Bitcoin‘s drop below the $30,000 level, which also pulled down several altcoins, including ARB.
About a week before this report, ARB was trading around $1.167, but it surged to $1.795 on April 18, a growth of over 53% within six days.
This surge caught the attention of some major investors who traded ARB between April 10 to 17. As of April 18, 23 whale accounts hold more than 1 million ARB tokens, with nine wallets buying 12.4 million ARB tokens between $1.2 and $1.5. Three whales sold 22.8 million ARB.
At the time of writing ARB is priced at $1.55 with a $1.5 billion 24-hour trading volume.
At 07:00 UTC on April 19, BTC fell below $30,000, marking a 2.21% decline over the last 24 hours.
Its value surged to $30,963 on April 14, but as of writing, it is trading at $29,255, which is a 5.5% decrease.