Arbitrum is a recently launched native utility token, named ARB, and has made headlines with its launch and airdrop last month. Unfortunately, despite high bullish sentiment the price of ARB has been in a downward spiral plunging to the tune of 90% in the time since its launch. This price drop has been driven in part by the large number of ARB transactions processed on the DEX Uniswap, and in part by Binance with its almost 20% share of ARB being processed.

Market sentiment surrounding Arbitrum has come to a near standstill with investors being left extremely perplexed as to its future. Despite this however, data from Santiment shows that Arbitrum has managed to move up the ranks to the #39 market cap position. This growth is thought to be driven by the large transactions taking place which some believe is already the bottom and what is keeping the share price afloat.

Coupled with this the total value locked (TVL) of Arbitrum is growing and current sits at $2.2 billion according to data provided by DeFi Llama. This is bolstered by an increase of 1.47% in the past 24 hours.

In conclusion, while the price of Arbitrum is still in the bear zone, it seems the growth in value locked is fuelling further progress. That being said, we must wait and see how the situation develops. Hopefully investors can be rewarded with positive growth in the near future.



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