Crypto News

Arbitrum Faces Decline Amidst Market Volatility

Arbitrum’s value has seen a continuous decline as the new trading week unfolds, with a 4% decrease recorded today.

Spotonchain reports indicate that Wintermute Trading has made additional deposits of 5 million ARB ($8.24 million) to Binance, averaging at $1.65 over the past 6 hours. 

Notably, this market maker has predominantly focused on unloading 22.09 million ARB ($36.7 million) to Binance and Bitfinex, anticipating a price drop in the preceding week. 

Currently, Wintermute Trading’s holdings stand at 10.1 million ARB ($16.57 million).

Arbitrum Claims Top Spot In Layer-2 Platform With TVL

Coin98analytics data reveals that Arbitrium claimed the top spot in Layer2 platforms with the highest Total Value Locked (TVL) at the end of Q1/2024, amounting to 3.2 billion.

The rankings include prominent platforms such as Blast, Base, Optimism, Starknet, Mantle, Manta, zkSync, Mode, Linea, Metis, and Scroll.

The fluctuating market conditions reflect the ongoing volatility in the cryptocurrency landscape, impacting assets like Arbitrum. 

Investors and traders are closely monitoring these developments as they navigate through the market uncertainties.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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