Analysis: Arbitrium Investors Face Losses Amidst Bearish Trends

As Arbitrium continues to experience bearish trends across all time frames, a staggering 85% of investors holding ARB in their wallets find themselves at a loss. 

Observations of on-chain data reveal a notable decrease in large ARB transactions since January 3, 2024, with transactions over 100K dropping from 256 to 121. These downward signals underscore the prevailing bearish sentiment.

Currently, the ratio of wallets holding ARB for over a year to the general population stands at 23%, indicating a substantial portion of long-term holders.

Notably, one wallet holds a significant 33.92% of the current ARB supply, highlighting potential centralization concerns.

Decline In New Active Addresses For ARB

Active addresses, a crucial metric for gauging investor interest, tell a concerning story. While the average number of active addresses in 2024 was roughly 30K, it has now dwindled to 10.5K. Moreover, the rate of increase in new addresses continues to decline significantly, with daily new addresses dropping from 20K to just 3.4K.

Despite this grim outlook, there is a glimmer of limited positivity in the data. While the number of addresses with zero accounts has increased slightly in the last 7 days, it remains a minor bright spot amidst broader bearish trends.

On-chain data specific to Arbitrium sheds light on crucial support and resistance levels. The 0.87 level, with a volume of 3.42 billion ARB and over 70K addresses, acts as a significant support. Conversely, the 1.37 level, boasting 2.21 billion ARB and 160K addresses, presents a formidable resistance barrier.

In summary, as Arbitrium grapples with bearish sentiment and dwindling investor interest, stakeholders closely monitor key support and resistance levels amidst an uncertain market landscape.

Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.