The Arbitrum token (ARB) is potentially on the verge of a bullish breakout as the growth of its ecosystem continues. While the price of ARB has dropped 45% from its highest level in December, third-party data shows that the volume of tokens on the Arbitrum chain has increased by 118% in the last seven days to $10.15 billion, its best week in months. Uniswap was the most active player in the ecosystem, followed by Camelot, Pancakeswap, and Maverick Protocol. The number of active addresses in the network has also surged by 77%, leading to a 35% increase in transactions and a 182% increase in fees. Although Arbitrum has a long way to catch up with Base, the biggest layer-2 network in the crypto industry, positive indicators such as a falling wedge pattern and potential rebound suggest that the ARB price could reach $2.13.



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