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.
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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.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
