Arbitrum Draws Whale Interest Despite July Price Decline
The ARB token from the Arbitrum network has recently attracted significant interest from major investors even as its price declined in the past month.
Trading around $0.73, ARB has dropped nearly 10% over the last month.
New data reveals a surge in whale activity, with large holders of ARB—those with between 10,000 and 10,000,000 tokens—reaching a record high of 10,100 addresses.
This uptick in whale accumulation comes amid the token’s price decline, with a 4% increase in whale numbers over the past month, suggesting they are seizing the opportunity to buy at lower prices.
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Current metrics indicate ARB is undervalued. The Market Value to Realized Value (MVRV) ratio is negative, with 90-day and 365-day averages showing substantial drops, indicating that the current trading price is below the average acquisition price. This typically signals a buying opportunity.
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.
