👀👀Will the decline in Arbitrum continue? 👀👀

ARB, the native token of the popular Layer-2 network Arbitrum, has experienced a significant decline over the past few weeks. It hit an all-time low of $0.57 on July 5. ARB's price has risen 22% since then, but the decline in user demand for the Layer-2 network means those gains are in danger of being erased.

What's Happening on the Arbitrum Front?

According to on-chain data, user demand for Arbitrum has been decreasing since June 21. During this period, the daily number of active addresses decreased by over 46%, which also led to a decrease in the number of transactions completed daily on the Layer-2 network. The number of daily transactions, which reached its peak since the beginning of the year, has decreased by 34%.

The price of ARB has been in a downward trend over the past week, while Chaikin Money Flow (CMF) has been in an upward trend. CMF measures how money moves in and out of an asset. If the CMF data rises while the price falls, it indicates a potential price change. In this case, the price of ARB may rise to $0.72, but if the decline continues, it may drop to $0.66.

It is important to closely monitor the decline in the number of transactions and active addresses on the Arbitrum network. In addition, it is important for investors to monitor the movements of the whales and evaluate volatility opportunities, considering the potential possibility of the ARB price rising to $0.72 and falling to $0.66.

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