{"id":47430,"date":"2023-03-29T15:46:44","date_gmt":"2023-03-29T15:46:44","guid":{"rendered":"http:\/\/egrowonline.com\/?p=47430"},"modified":"2023-03-29T15:46:44","modified_gmt":"2023-03-29T15:46:44","slug":"arb-price-to-2-ethereum-l2-rival-arbitrum-will-double-in-april-fractal-suggests","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=47430","title":{"rendered":"ARB price to $2? Ethereum L2 rival Arbitrum will double in April, fractal suggests"},"content":{"rendered":"


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The price of Arbitrum (ARB<\/a>) has dropped by nearly 20% a week after establishing its record high at $1.60 on March 23. However, the Ethereum layer-2<\/a> token looks set to resume its uptrend in the coming weeks.<\/p>\n

Polygon price fractal<\/h2>\n

The cues for a bullish Arbitrum token could be traced back to its Ethereum L2 rival Polygon’s market debut.<\/p>\n

MATIC started trading on Binance on April 26, 2019, at $0.0026 per token. MATIC\/USD rallied nearly 300% to reach $0.0105 on the same day before wiping out 70% of those gains in a market correction by May 9, 2019.<\/p>\n

It regained its upside momentum afterward, rallying by nearly 1,350% to $0.045 on May 21, 2019.\u00a0\u00a0<\/p>\n

MATIC\/USDT four-hour price chart. Source: TradingView\/Mac<\/em><\/figcaption><\/figure>\n

The price trajectory reflects a recurring phenomenon involving the launch of digital tokens with seemingly strong fundamental backing, according to independent market analyst Mac<\/a>.<\/p>\n

For instance, Solana (SOL<\/a>), a layer-1 blockchain, rallied 50,000% before undergoing a similar pump, correction, and sideways consolidation phase after its exchange debut in April 2020.\u00a0<\/p>\n

SOL\/USD daily price chart. Source: TradingView\/Mac<\/em><\/figcaption><\/figure>\n

Arbitrum price could hit $2 by April<\/h2>\n

From a fundamental perspective, Arbitrum has emerged as a strong contender in the Ethereum L2 space in recent months, with several leading DeFi protocols, including GMX<\/a>, Uniswap, Sushi, and Aave, among its users.<\/p>\n

“GMX and Radiant on Arbitrum are two of the fastest-growing protocols in terms of both fundamentals and price appreciation this year,” noted<\/a> Dustin Teander, a researcher at analytics firm Messari, adding:”<\/p>\n

“Looking at user retention metrics, it\u2019s apparent these protocols have gained above-market traction compared to imported protocols like Uniswap or Aave.”<\/p><\/blockquote>\n

Optimism vs. Arbitrum monthly user retention rates. Source: Messari<\/em><\/figcaption><\/figure>\n

As of March 29, the total value locked (TVL) across Arbitrum pools rose to $2.2 billion versus around $981 million three months ago, according to data resource Defi Llama<\/a>. <\/p>\n

Related:\u00a0Arbitrum airdrop sells off at listing, but traders remain bullish on ARB<\/a><\/em><\/strong><\/p>\n

Mac noted that Arbitrum’s strong fundamentals could limit ARB’s downside prospects and prompt traders to re-accumulate the token in the coming weeks.<\/p>\n

ARB\/USDT hourly price chart. Source: TradingView\/Mac<\/em><\/figcaption><\/figure>\n

That may lead to another price run-up, eyeing $2 by April 2023. as illustrated below.<\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.\n<\/p>\n<\/div>\n


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The price of Arbitrum (ARB) has dropped by nearly 20% a week after establishing its record high at $1.60 on March 23. However, the Ethereum layer-2 token looks set to resume its uptrend in the coming weeks. Polygon price fractal The cues for a bullish Arbitrum token could be traced back to its Ethereum L2 […]<\/p>\n","protected":false},"author":1,"featured_media":47431,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[40],"tags":[4252,14033,686,1543,158,2630,195,629,2966],"class_list":["post-47430","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","tag-april","tag-arb","tag-arbitrum","tag-double","tag-ethereum","tag-fractal","tag-price","tag-rival","tag-suggests"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/03\/f28e9a94-19e4-4d93-bfda-88e404cb2b92.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/47430","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=47430"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/47430\/revisions"}],"predecessor-version":[{"id":47432,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/47430\/revisions\/47432"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/47431"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47430"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}