- With $78.38 million in seven days, Arbitrum recorded the highest liquidity flow in the market.
- Speculation surrounding ARB dropped, as did the search for the asset.
Arbitration [ARB] has emerged as the top protocol with the highest liquidity over the past seven days. This revelation was made by Emperor Osmo, a pseudonymous data expert at digital asset data platform Artemis.
Realistic or not, here it is The market capitalization of ARB in MATIC terms
Arbitrum gifts pay off
According to Osmo, Arbitrum had a net flow of $78.38 million within the mentioned period. This was much more than the liquidity of the combination of the Binance Smart Chain, Phantom [FTM]And Polygon [MATIC] zkEVM registered.
In the past 7 days, $ARB has emerged as the protocol with the highest liquidity inflows.
Arbitrum surpassed BSC this week by more than 10x net deposits.
The STIP effect? pic.twitter.com/TNdNxtPbfc
— Emperor Osmo???? (@Flowslikeosmo) October 14, 2023
The increase in liquidity implies that a lot of token bridging has taken place in the Arbitrum chain. Interestingly, this may also be related to the Short-Term Incentive Program (STIP), introduced by the Ethereum [ETH] L2.
On October 14, AMBCrypto reported which Arbitrum chose PancakeSwap [CAKE] and GMX in the first round of STIP subsidies. The initiative aimed at increasing Arbitrum’s dominance in the L2 space seems to be paying off with the increase in liquidity.
Although the increase in liquidity increase is not necessarily related to ARB, the volume of the token dropped. According to Santiment, ARB’s volume had fallen to 50.17 million over the past seven days.
The decrease in volume means there has been little activity in terms of back and forth ARB between third party wallets and exchanges. The decline also indicates a lack of interest in buying or selling.
Source: Santiment
Fewer eyes on ARB
Although the subsidies that Arbitrum distributed were a good development, the impact on social volume was minimal. Based on press time on the chain data, Arbitrum’s social volume decreased.
Social volume is defined as the number of search terms related to an asset. When the metric increases, it means that many participants are looking for events within a project. However, ARB’s social dominance reflects that of an asset that is currently overlooked.
Another statistic with a similar trend Just like volume and social dominance, it is actively addressed. At the time of writing, the seven-day active addresses on the Arbitrum network had dropped to 41,100.
Source: Santiment
How many Worth 1,10,100 ARBs today?
Active addresses show the number of unique users involved in ARB transactions every day. An increase in the statistic means that the interaction with the token is high. Conversely, when active addresses decrease, it means speculation around a token is low, and that was the case with ARB.
As it stands now, it is likely that Arbitrum will continue to excel with greater liquidity on its network. However, the native token is not likely to experience the same, given market sentiment.