{"id":160117,"date":"2023-09-21T16:34:47","date_gmt":"2023-09-21T11:04:47","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=160117"},"modified":"2023-09-21T16:34:47","modified_gmt":"2023-09-21T11:04:47","slug":"arbitrum-network-tvl-tanks-as-arb-coin-underperforms-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/arbitrum-network-tvl-tanks-as-arb-coin-underperforms-crypto-news\/","title":{"rendered":"Arbitrum Network TVL Tanks As ARB Coin Underperforms – Crypto News"},"content":{"rendered":"

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On Thursday, ARB coin is down 3.94% as the altcoin market experiences a correction. The pullback can be attributed to the Bitcoin\u2019s plunge below $27,000. Despite a pause in rate hikes, the risk assets are not catching a bid. At press time, the native asset of Arbitrum Network was trading at $0.827 on exchanges.<\/p>\n

The bearish sentiment in the markets shows that investors expect the interest rates to remain high for a long. These economic conditions may impact the price action of ARB token and other cryptocurrencies in the coming months.<\/p>\n

Arbitrum Price Analysis<\/h2>\n

We can clearly see a formation of the falling wedge on the daily chart of the ARB<\/a> coin. The following chart also reveals the key levels of support and resistance. One of the most significant levels is the $0.916 level, which is acting as a huge resistance.<\/p>\n

My Arbitrum price prediction is bearish as the coin has yet to show any strength. Only a clear breakout from the falling wedge pattern can change this outlook. In such cases, the price usually targets the top of the wedge, which lies above $1.80. However, such a move seems unlikely for now.<\/p>\n

ARB Coin Chart<\/h2>\n
\"\"<\/figure>\n

TVL Shrinks To $1.72B On Arbitrum<\/h2>\n

There has been a significant decrease in the total locked value on the Arbitrum Network. Since May 2023, the L2 blockchain has lost more than $800 million in TVL. While most of this TVL decrease is due to the slump in Arbitrum price, some of it is also due to the low on-chain activity.<\/p>\n

Nevertheless, it remains one of the 4th largest blockchains in terms of the total locked value. Currently, there is $1.72 billion TVL on the network, which is spread across numerous dapps like GMX, Uniswap, Radiant, and AAVE.<\/p>\n

For a real-time analysis of cryptocurrencies, you are also welcome to follow me on Twitter<\/a>.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

On Thursday, ARB coin is down 3.94% as the altcoin market experiences a correction. The pullback can be attributed to the Bitcoin\u2019s plunge below $27,000. Despite a pause in rate hikes, the risk assets are not catching a bid. At press time, the native asset of Arbitrum Network was trading at $0.827 on exchanges. The […]<\/p>\n","protected":false},"author":2,"featured_media":160118,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-160117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/160117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=160117"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/160117\/revisions"}],"predecessor-version":[{"id":160124,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/160117\/revisions\/160124"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/160118"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=160117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=160117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=160117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}