😱🚀🚀Arbitrum whales are hungry: Is the expected rise starting?🐋🐋
#Arbitrum (#ARB ) has aroused curiosity with its whale activities.
The list of whale addresses holding Arbitrum between 10,000 and 10,000,000 has been shown to have increased since April 1. As a result of the writing of the news, $ARB
's whale record has been renewed. Arbitrum, which is seen as one of the important names of Layer-2 projects, has gained upward momentum with the recovery of the market.
The onchain data that should be noted for Arbitrum is that despite the price increase last month, these whales continued to work for ARB. According to Santiment's systems, Arbitrum whales have increased by 4 percent in the last 30 days. The increase in ARB's whales occurred due to the parity being subject to heavy sales in the last few weeks. The popular altcoin, which is almost approaching its listing price on the exchanges, has started to rise with BTC targeting $ 70,000.
ARB is currently seen against the market value of the token and the realized value (MVRV). The token’s MVRV ratio is negative when evaluated against various moving averages. In particular, the MVRV amounts for ARB’s 90-day and 365-day moving averages are minus 18.63 percent and minus 42.42 percent, respectively.
On the other hand, an MVRV ratio below zero indicates that the asset in question is below the average purchase price of all tokens in circulation in the market. In these signs, its presence is said to be low. A negative MVRV ratio presents a good buying opportunity because the asset is trading at a lower price and they can accumulate it at that level and sell it at a higher price.
