{"id":34724,"date":"2024-01-03T19:52:54","date_gmt":"2024-01-03T23:52:54","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=34724"},"modified":"2024-01-03T19:52:54","modified_gmt":"2024-01-03T23:52:54","slug":"arbitrum-reaches-major-milestone-in-tvl-as-price-rallies","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/01\/03\/arbitrum-reaches-major-milestone-in-tvl-as-price-rallies\/","title":{"rendered":"Arbitrum Reaches Major Milestone In TVL As Price Rallies"},"content":{"rendered":"

Arbitrum (ARB)<\/a>, a layer 2 (L2) protocol has achieved yet another major milestone in its Total Value Locked (TVL) reaching new heights, following a surge in the crypto asset\u2019s price.<\/p>\n

Arbitrum Sees Surge In Total Value Locked (TVL)<\/h2>\n

According to the L2beat platform, Arbitrum\u2019s TVL recently went past the $10 billion mark putting it in the spotlight. Data from the analytics firm reveals<\/a> that the network\u2019s TVL is currently at $10.36 billion.<\/p>\n

L2beat\u2019s report shows that Arbitrum One\u2019s TVL soared by a remarkable 16.49% over the past seven days. With this accomplishment, the network is firmly established as the first Layer 2 network to surpass the $10 billion TVL threshold.<\/p>\n

L2beat shows that Arbitrum is above Optimism (OP)<\/a> by about 40% which comes in second place with a TVL of $6.44 billion. Optimism\u2019s TVL has also increased significantly by 11.63% in the last 24 hours.\u00a0<\/p>\n

When analyzing Arbitrum\u2019s TVL, Ethereum (ETH)<\/a> makes up about 30% of the TVL, while the ARB token makes up about 23.68%. Meanwhile, stablecoins make up a substantial portion of 29% of the TVL, with the remaining 15.76% going to other assets. This diverse composition highlights the platform\u2019s increasing popularity and attractiveness to a larger range of users.<\/p>\n

In addition, L2beat has also revealed a surge in the network\u2019s market share. The data shows that Arbitrum One\u2019s market share has seen an increase of over 48%.\u00a0<\/p>\n

So far, the network\u2019s token ARB seems to have experienced a rise in response to the rise in TVL. The digital asset price is currently set at $1.84, indicating a 2.82% increase in the past day.<\/p>\n

As of the time of writing, the network\u2019s trading volume has increased significantly by 60% in the past 24 hours. Meanwhile, its market capitalization is up by 1% in the past day, according to data from CoinMarketcap<\/p>\n

The price rise is indicative of investors\u2019 increased faith and interest in Arbitrum\u2019s ecosystem. The network\u2019s success also highlights the growing need in the Ethereum ecosystem for scalable and affordable solutions.<\/p>\n

Analyst Predicts A Clear Uptrend For ARB<\/h2>\n

Cryptocurrency analyst Micha\u00ebl van de Poppe has predicted a clear uptrend for Arbitrum, signaling a possible breakout. The analyst shared<\/a> his projections for the token on the social media platform X (formerly Twitter).<\/p>\n

Related Reading: Arbitrum Network Faces Major Outage, ARB Token Faces 4% Decline<\/a><\/p>\n

In his analysis, he noted that the uptrend is \u201ctaking place with beautiful retests of previous resistances, becoming a support zone.\u201d Poppe further pointed out a possible retest optimal \u201cgo-to level\u201d between $1.50-1.60.\u00a0<\/p>\n

This area denotes a tactical stage where the token might experience a retest before opting to breach the psychological barrier of $2.\u00a0 However, this will only take place if the ARB continues on the current upward path.<\/p>\n

Lastly, Poppe highlighted a difficulty in the token initiating its first cycle when put against Bitcoin<\/a>. \u201cAgainst $BTC, this pair barely wakes up and starts its first cycle,\u201d he stated.<\/p>\n

With the recent price of Arbitrum sitting at $1.84, it appears that the analyst\u2019s predictions will soon come to pass.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Arbitrum (ARB)<\/a>, a layer 2 (L2) protocol has achieved yet another major milestone in its Total Value Locked (TVL) reaching new heights, following a surge in the crypto asset\u2019s price.<\/p>\n

Arbitrum Sees Surge In Total Value Locked (TVL)<\/h2>\n

According to the L2beat platform, Arbitrum\u2019s TVL recently went past the $10 billion mark putting it in the spotlight. Data from the analytics firm reveals<\/a> that the network\u2019s TVL is currently at $10.36 billion.<\/p>\n

L2beat\u2019s report shows that Arbitrum One\u2019s TVL soared by a remarkable 16.49% over the past seven days. With this accomplishment, the network is firmly established as the first Layer 2 network to surpass the $10 billion TVL threshold.<\/p>\n

L2beat shows that Arbitrum is above Optimism (OP)<\/a> by about 40% which comes in second place with a TVL of $6.44 billion. Optimism\u2019s TVL has also increased significantly by 11.63% in the last 24 hours.\u00a0<\/p>\n

When analyzing Arbitrum\u2019s TVL, Ethereum (ETH)<\/a> makes up about 30% of the TVL, while the ARB token makes up about 23.68%. Meanwhile, stablecoins make up a substantial portion of 29% of the TVL, with the remaining 15.76% going to other assets. This diverse composition highlights the platform\u2019s increasing popularity and attractiveness to a larger range of users.<\/p>\n

In addition, L2beat has also revealed a surge in the network\u2019s market share. The data shows that Arbitrum One\u2019s market share has seen an increase of over 48%.\u00a0<\/p>\n

So far, the network\u2019s token ARB seems to have experienced a rise in response to the rise in TVL. The digital asset price is currently set at $1.84, indicating a 2.82% increase in the past day.<\/p>\n

As of the time of writing, the network\u2019s trading volume has increased significantly by 60% in the past 24 hours. Meanwhile, its market capitalization is up by 1% in the past day, according to data from CoinMarketcap<\/p>\n

The price rise is indicative of investors\u2019 increased faith and interest in Arbitrum\u2019s ecosystem. The network\u2019s success also highlights the growing need in the Ethereum ecosystem for scalable and affordable solutions.<\/p>\n

Analyst Predicts A Clear Uptrend For ARB<\/h2>\n

Cryptocurrency analyst Micha\u00ebl van de Poppe has predicted a clear uptrend for Arbitrum, signaling a possible breakout. The analyst shared<\/a> his projections for the token on the social media platform X (formerly Twitter).<\/p>\n

Related Reading: Arbitrum Network Faces Major Outage, ARB Token Faces 4% Decline<\/a><\/p>\n

In his analysis, he noted that the uptrend is \u201ctaking place with beautiful retests of previous resistances, becoming a support zone.\u201d Poppe further pointed out a possible retest optimal \u201cgo-to level\u201d between $1.50-1.60.\u00a0<\/p>\n

This area denotes a tactical stage where the token might experience a retest before opting to breach the psychological barrier of $2.\u00a0 However, this will only take place if the ARB continues on the current upward path.<\/p>\n

Lastly, Poppe highlighted a difficulty in the token initiating its first cycle when put against Bitcoin<\/a>. \u201cAgainst $BTC, this pair barely wakes up and starts its first cycle,\u201d he stated.<\/p>\n

With the recent price of Arbitrum sitting at $1.84, it appears that the analyst\u2019s predictions will soon come to pass.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-34724","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=34724"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34724\/revisions"}],"predecessor-version":[{"id":34734,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34724\/revisions\/34734"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34724"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}