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Active Currencies: 22,874
Market Cap: $2.510T
Bitcoin Dominance: 59.66%
24h Market Cap Change: $-0.46

Arbitrum added $64.2M in stablecoin trading in a week, but what does this mean for ARB?

Are ARB buyers really there?

Arbitrum added $64.2M in stablecoin trading in a week, but what does this mean for ARB?

Arbitrum’s [ARB] has had a busy week, at least as far as stablecoins are concerned. And, it’s probably going to get busier now. Especially now that there’s a new privacy tool on the network, giving people more reasons to show up.

Will they though?

Arbitrum added $64.2M in stablecoin DEX volume last week

No one else came close.

Arc was in second place, with $11.8 million. Ink added $4.2 million, and Tempo $2.7 million. After that, it fell off a cliff. OP Mainnet, zkSync, and Gnosis each grew by less than $200K, and Boba added under $20K.

arbitrum
Source: RWA Foundation

Every chain from second to eighth together will get you roughly $19.2 million. And yet, Arbitrum’s number is more than three times that.

Here, it’s worth pointing out that this chart is a measure of growth. It is a measure of who added the most stablecoin trading in a week. Not who’s the biggest overall.

Private transfers and swaps, now on Arbitrum

NullMask, a privacy protocol, is now live on the network. Users can send, swap, deposit and withdraw crypto, and even check their balances, without putting the transaction details out in public.

Normally, anyone with a block explorer can see all of that.

arbitrum
Source: X

There’s been more appeal for this on Layer 2s, especially from those who value their privacy.

Now, whether it actually brings more users and volume is still an open question. However, it’s still reason enough to stick around.

ARB tags $0.188, but is money flow slower?

ARB has had a decent run on the price charts lately.

After dipping to about $0.160 late on 8th November, ARB went up to $0.188 by next afternoon. It’s since pulled back a bit and at press time, ARB was trading near $0.1795.

arbitrum
Source: TradingView

That pointed to 12% above the dip, comfortably clear of the range it had been in for most of the near-term.

The RSI was close to 77 at the top; before it fell to to 58.2 later under its Signal Line at 64.1. The CMF is the one to watch though. It was barely below zero, after shortly going green during the rally. The price went up, but real buying pressure didn’t really follow.

The move has a better shot at sticking if ARB climbs above $0.172.


Final Summary

  • Arbitrum added $64.2 million in stablecoin DEX volume in a week!
  • NullMask’s privacy tools are now live on Arbitrum.

 

Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.

Samyukhtha L KM

Journalist

Samyukhtha L KM is a financial journalist and market analyst at AMBCrypto. She covers key market moves, blockchain adoption, and socially-driven crypto trends. She also enjoys providing fresh takes through commentaries on emerging narratives.

AMBCrypto was founded in 2018 with a mission to simplify and bring the latest blockchain and cryptocurrency news to our readers. We have quickly grown into the digital news source for an emerging generation of cryptocurrency enthusiasts, reaching more than a million readers on a monthly basis, across the globe.