cryptopolitan.com
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Arbitrum’s $ARB token has fallen around 24% over the last 30 days, close to double ether’s ~13% drop.
Bitcoin dropped about 5% during the same time.
Data from CoinGecko shows $ARB reached $0.1638 on Oct. 24, its lowest price in four weeks. The token was trading around $0.167 late in the day, down about 5% on the day.
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Ether lost about 2% and Bitcoin about 1% in the same window.
At 10:02 UTC on Oct. 23, $ARB was trading at $0.1802, below the $0.183 to $0.186 band that a technical note on Oct. 14 had flagged as a potential retest zone, not a firm floor.
The October 14 note had shown $ARB at $0.1916. The band gave and price kept slipping.
Other Ethereum scaling tokens also fell precipitously. Optimism’s OP lost ~16% in 30 days and Polygon’s $POL ~17%.
OP did worse in the last week. It fell ~16% in seven days vs $ARB’s 9% and $POL’s 5%.
Ether and bitcoin fell around 3% and 1.5% respectively over the seven-day period.
Arbitrum One’s network use went the opposite way. Growthepie data indicates daily active addresses stood at 563,669 on October 23, compared to 95,545 on September 26.
It fell from 571,767 on Oct. 21 to 299,959 the next day, then rallied. The number of addresses is not equivalent to the number of users.
$ARB’s slide wipes out much of a September rally. According to Cryptopolitan, by September 18 the token had surged more than 167% in a month to trade above $0.20 for the first time since January.
By that time, $ARB had gained over 147% in 90 days and landed among the top 10 tokens outperforming Bitcoin.
Tokenized assets on Arbitrum reached a record high of over $800 million in assets under management at the time. On-chain assets increased from $9.38 billion to $11.18 billion in a month.
Standard Chartered has a $0.50 target for $ARB by the end of 2026 and $10 by 2030, set in mid-September. At ~$0.167, $ARB would need to triple to hit the closer mark.
“We see digital assets transitioning from a state where revenue is not yet relevant to one where revenue is critical,” wrote Geoff Kendrick, head of digital assets research at the bank.
The bank’s own note said that holders of $ARB receive little of the network revenue behind the call. Chains using Arbitrum tech in the Arbitrum Expansion Program pay 10% of net protocol revenue, with 8% going to the DAO treasury and 2% to a developer guild.
The headline customer for the program is Robinhood Chain. Its daily fees attained a high of $6.04 million on Sept. 4 and fell to $448,616 by Sept. 14.
