ARB gained more than 49% over the past month as activity on Arbitrum soared. Cointelegraph explains what’s behind the trend.
ARB, the native token of Arbitrum, a layer 2 Ethereum scaling platform, is the leader within its sector after posting a 49.49% move over the past month.
While the market price action of the last week has negatively impacted altcoins and ARB price, longer-timeframe data suggests that ARB could resume its bullish momentum.
ARB has outperformed other popular tokens such as Optimism, Binance Coin (BNB) and Solana (SOL), which have risen 47%, 25% and 19%, respectively, over the same timeframe, but exactly what is behind ARB’s recent strength?
