Arbitrum (ARB) Maintains Impressive 30% Price Uptrend, Analyst Predicts Maybe it Breakout Above $2 🔥🔥🚀
Arbitrum (ARB), a prominent Layer 2 (L2) protocol, has emerged as one of the top gainers in the past month, experiencing a remarkable surge of 59%. Over the past 7 days, the token has grown substantially over 31%, propelling it to reach a new all-time high (ATH) of $1.8391 on Monday.
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Arbitrum’s Market Capitalization Surges To $2.21 Billion
The impressive price surge of ARB reflects the growing interest in the protocol and its native token within the Layer 2 ecosystem. This surge is evident when examining the data provided by Token Terminal, a leading analytics platform.
According to Token Terminal’s data, Arbitrum’s market capitalization (circulating) is $2.21 billion, marking a significant increase of 56.18%.
Additionally, the revenue generated by the protocol over the past 30 days amounts to $11.31 million, representing a substantial surge of 87.74%.
The fully diluted market capitalization is $17.33 billion, reflecting the market’s positive sentiment toward the protocol’s potential. The revenue on an annual basis reaches $137.63 million, exhibiting an impressive growth of 106.63%.
Moreover, the strong performance of the market indicators, such as the P/F ratio (fully diluted) at 125.95x and the P/S ratio (fully diluted) at 125.95x, indicate robust investor confidence.
The fees generated by the protocol over the past 30 days amount to $11.31 million, representing a significant increase of 87.74%. Additionally, the annualized fees reached $137.63 million, demonstrating a substantial growth of 106.63%.
Furthermore, the data reveals that Arbitrum has a strong user base, with an average of 153,3100 active daily users over the past 30 days, highlighting its popularity and adoption. Even more encouraging is that a prominent crypto analyst foresees continued growth in price action for ARB.
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