arb Archives - Argin Chronicles

Mysterious ARB Movements: Multi-Sig Address Receives $21 Million From Arbitrum DAO Treasury

Earlier today, a multi-signature address (0xAc2...DC739) linked to the Arbitrum DAO Treasury made headlines after receiving a staggering 26 million ARB tokens, valued at approximately $21.06 million. This transfer occurred just four hours ago and has sparked speculation about its purpose. Interestingly, this isn’t the first time the address has been in the spotlight. Roughly a month ago, it received 4 million ARB tokens from the same treasury. Shortly after, 1.75 million tokens were moved to Coinbase, raising questions about the ultimate intent behind these transactions. https://twitter.com/ai_9684xtpa/status/1871394749091021269 Adding to the intrigue, two wallets associated with GSR Markets withdrew $9.18 million worth of ARB from Coinbase during the same period. This move is particularly notable because both addresses had shown no ARB-related activity for the previous three weeks. These coordinated transactions have left the crypto community speculating about what might be […]

Will Izuchukwu December 26, 2024

News

Layer 2 Report | Q2 2024: Address Growth, Transactions, and Money Flow

I. Addresses 1. Total Unique Addresses by Chain Optimism leads the pack in Q2 2024 with 149.6 million unique addresses. Following behind are Base with 84.7 million and Arbitrum with 33.2 million addresses. 2. Daily New Unique Addresses Created by Chain Base, Optimism, and Arbitrum were the top three chains for the constant creation of new unique addresses throughout Q2 2024. Notably, Base experienced a spike on June 1, with 1 million new addresses created in just one day. Growth of New Unique Addresses in Q2 2024: - Highest growth rate: Blast (+175%) and Mantle (+160%) - Chain with the highest number of new addresses: Base (+16M) II. Transactions 1. Daily Transactions opBNB, Base, and Arbitrum led the way in daily transactions throughout Q2 2024, with the following daily averages: - opBNB: 4.7 million transactions - Base: 2.6 million transactions […]

Will Izuchukwu July 10, 2024

News

$ZRO Launches With $934M Market Cap And $3.7B FDV Amid Airdrop Frenzy, Driving Up Arbitrum Gas Prices

The recent launch of $ZRO has generated significant buzz in the crypto community, debuting with a $934 million market cap and a $3.7 billion fully diluted valuation (FDV). https://twitter.com/lookonchain/status/1803836484312797665?t=MNe50ka78M-uXiMFDe8CuQ&s=19 This excitement was further amplified by a notable transaction involving the Merkly deployer, who donated 2.83 ETH (approximately $9,976) to claim an airdrop of 102,068 $ZRO tokens. The deployer then sold all the airdropped $ZRO for 106.69 ETH, valued at around $381,000. https://twitter.com/defi_mochi/status/1803805759240917235?t=4j0qVWNmEkJe2JfxdROoaw&s=19 The airdrop frenzy has had a profound impact on the Arbitrum One network. Gas prices have soared above 25 gwei due to the high demand for claiming the LayerZero airdrop, marking an astonishing 257,000% increase in just 24 hours. ARB Transaction Spikes Due To Airdrop Rush As a result, transaction costs have skyrocketed. A simple swap on Uniswap V3 now costs over $15, and the $ZRO claim fee […]

Will Izuchukwu June 21, 2024

News

Large ETH Holders Accumulate As Layer-2 Solutions Transform Ethereum’s Landscape

On Thursday, large Ethereum holders recorded a net inflow of 267,000 ETH, marking the highest daily accumulation since March. This surge in accumulation underscores the growing confidence in Ethereum's evolving ecosystem. https://twitter.com/intotheblock/status/1800097893946192175?t=pgAF_Zfp4pJXiqNRev1dHg&s=19 Delving into Ethereum's network activities through the lens of IntoTheBlock reveals a dynamic and innovative landscape. As Ethereum continues to develop, layer-2 (L2) solutions such as Arbitrum, Optimism, and Base are significantly reshaping its economic framework by offering lower transaction fees and fostering a rich ecosystem of applications. Investors Show Preference For Arbitrum The adoption of these L2 solutions has led to a notable decrease in Ethereum's transaction fees, bringing them to a six-month low. This shift underscores the increasing preference for scalable solutions that enhance transaction efficiency and reduce costs. Among these solutions, institutions have shown a marked preference for Arbitrum due to its dominant transaction volume. […]

Will Izuchukwu June 10, 2024

News

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. https://twitter.com/burak_kesmeci/status/1789749148599665081?t=ey62Av5K-aaCFn_KXEXWdw&s=19 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, […]

Will Izuchukwu May 13, 2024

News

Arbitrum Token Shows Signs Of Recovery Amidst Increased Transaction Activity

The Ethereum layer 2 scaling solution token, Arbitrum, has faced a lackluster performance over the past three months, with bearish trends prevailing across all timeframes, particularly experiencing a 35% decline in the past 30 days. However, there are indications of a potential turnaround for $ARB, as highlighted by analyst Ali Martinez on X. Martinez points to the TD Sequential, which has presented a buy signal on the Arbitrum weekly chart. This signal suggests an anticipated rebound of one to four candlesticks for the token, signaling a potential shift in momentum. https://twitter.com/ali_charts/status/1788485954656747933?t=Enk0oggGEBsW0gcbYdixew&s=19 Moreover, data from intotheblock reveals a surge in Arbitrum transactions, indicating increased activity on the platform. Since early March, the number of transactions on Arbitrum has shown a strong upward trajectory, with daily transactions surpassing 2 million recently. This significant rise marks a notable increase from the average transaction […]

Will Izuchukwu May 10, 2024

News

Arbitrum Token Nears $1 Mark Amidst Decline, Amber Group Deposits To Coinbase

The Arbitrum token (ARB) is edging closer to the $1 mark, experiencing a 30% decline over the past 30 days, signaling a challenging period for the cryptocurrency. Recent on-chain reports reveal that Amber Group, a prominent player in the crypto space, has once again deposited 1 million ARB tokens to Coinbase, amounting to approximately $1.19 million. This move comes amidst the ongoing decline in ARB's value, indicating strategic decisions being made by major players in response to market conditions. Despite the overall decline, ARB has shown a slight increase of 4.5% in the past seven days, with its current price hovering around $1.19. The address associated with Amber Group still holds a substantial amount of ARB, totaling 3.1 million tokens, valued at approximately $3.69 million. This suggests that despite recent transactions, Amber Group maintains a significant stake in ARB. https://twitter.com/ai_9684xtpa/status/1783051257147797917?t=lg4yfrBBb6uue6vmGX5PYQ&s=19 […]

Will Izuchukwu April 24, 2024

News

ETH Layer 2 Transaction Surge Post Dencun Upgrade, Base Tops Solana

Since the Dencun upgrade, Ethereum layer 2 (L2) transactions have experienced a remarkable surge, marking a 196% increase to reach 5.67 million transactions settled on the top L2 platforms. https://twitter.com/intotheblock/status/1777628786470560245?t=XztHo7XQ4i7bmEJtJmkQMQ&s=19 Among these platforms, Base has emerged as a frontrunner, handling approximately 57% of these transactions. Arbitrum follows closely behind, accounting for 31% of the transactions, while Optimism captures 11%. Despite Base's dominance in transaction volume, Arbitrum maintains its position as the leading Ethereum L2 in terms of Total Value Locked (TVL), boasting an impressive $19 billion. Optimism secures the second spot with a TVL of $8 billion, while Base ranks third with a TVL exceeding $4 billion. https://twitter.com/niftyinvest/status/1777832796423426283?t=qQoDr_v0XnuNeWdmlBNBAg&s=19 Base Tops Solana As Regards Transaction Speed And Performance An interesting development is that Base now demonstrates superior speed compared to Solana, with zero failed transactions reported. This enhanced performance is attributed […]

Will Izuchukwu April 10, 2024

Featured

Base Emerges As Leader In Daily Activity, Transaction Volume Soars

In the realm of blockchain networks, Base has taken the lead with an impressive 890,000 daily active addresses. Notably, Base's transaction volume has surged to over $1.6 billion, marking a significant milestone that surpasses Optimism's volume by nearly threefold. The network showcased its robust capabilities by processing a staggering 2.63 million transactions on April second alone. Investment firm VanEck has turned its gaze toward Ethereum Layer 2 solutions, foreseeing a potential meteoric rise in valuation to $1 trillion by 2030. However, VanEck maintains a cautious stance, expressing overall bearish sentiment regarding the long-term prospects of several Layer 2 networks. https://twitter.com/vaneck_us/status/1775588021603057985?t=sHGB-4ew8-OdccvIepZqCA&s=19 Arbitrum Leads Pack With $18B In Locked Tokens VanEck's valuation projections hinge on the anticipated future usage of various Layer 2 networks, with a particular focus on diverse applications such as the metaverse, banking, and gaming sectors. Their analysis encompasses […]

Will Izuchukwu April 4, 2024

News

Arbitrum Gas Fee Reductions Set To Lower Transaction Costs Amid Dencun Upgrade

In an exciting development for the Ethereum ecosystem, gas fee reductions are scheduled to take effect on March 18, offering significant relief to developers utilizing the Arbitrum Layer 2 (L2) solution. This initiative, implemented in conjunction with the Dencun upgrade, promises to slash layer-2 transaction costs by a factor of ten, marking a notable advancement in scalability and affordability. https://twitter.com/arbitrum/status/1768360258161017082?t=kxU8BY8GxAFFfb6LBh3CQQ&s=19 The Offchain Labs group recently deployed an update to ArbOS, known as Atlas, as part of the effort to enhance the efficiency of data transfer between Layer 2 and the Ethereum mainnet. One key feature of this upgrade is the introduction of support for binary big objects (blob) transactions, aimed at reducing the cost associated with transferring data. https://twitter.com/arbitrum/status/1768306107318178061?t=kxU8BY8GxAFFfb6LBh3CQQ&s=19 Despite these positive developments, the value of Layer 2 tokens has continued to experience a decline, with a 4.5% decrease observed […]

Will Izuchukwu March 15, 2024

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