{"id":568133,"date":"2024-01-05T01:30:41","date_gmt":"2024-01-05T01:30:41","guid":{"rendered":"https:\/\/wncen.com\/?p=568133"},"modified":"2024-06-11T14:44:03","modified_gmt":"2024-06-11T14:44:03","slug":"arbitrum-rending-social-media-arb","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/arbitrum-rending-social-media-arb\/","title":{"rendered":"Arbitrum Is Trending On Social Media, Time For ARB To Rip Higher?"},"content":{"rendered":"

There is an upswing in social media mention of ARB, the native token of Arbitrum, a layer-2 scaling solution for Ethereum, suggesting growing interest and potential for price gains.<\/span><\/p>\n

According to AlphaScan <\/span>data<\/span><\/a>\u00a0on January 4, ARB had the “best sentiment” in the last 24 hours, with more than 40% of all weekly mentions occurring within this timeframe. Notably, ARB was the most mentioned token, right behind Bitcoin. This surge in positive sentiment shows in the weekly timeframe, where over 30% of all monthly mentions occurred in the last week of December.<\/span><\/p>\n

\"ARB
ARB trending | Source: AlphaScan<\/figcaption><\/figure>\n

ARB Is Trending As Prices Rise To 2024 Highs<\/span><\/h2>\n

Social media mentions can be a good metric for tracking sentiment. As such, with ARB trending, only trailing Bitcoin<\/a>, it could show that the crypto community is taking note of the project and tracking its progress. Since there was no hack or steep losses on January 3, the ARB social media count spike is a net bullish for the project.<\/span><\/p>\n

Related Reading: Crypto Analyst Predicts Bullish Hammer For XRP In Upcoming Move<\/a><\/div>\n

Interestingly, ARB is trending across social media platforms when token prices are at an all-time high and decentralized finance (DeFi) activity is recovering. From the daily chart, ARB is changing hands at around $2, the highest price point for the token, according to Binance data.\u00a0<\/span><\/p>\n

\"Arbitrum<\/a>
Arbitrum price trending upward on the daily chart | Source: ARBUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n

In 2023 alone, ARB surged roughly 300% from March 2023 lows, peaking in late December. The uptrend remains, and bulls are pressing on, absorbing any attempts for lower lows.<\/span><\/p>\n

Arbitrum plays a key role in addressing the scaling limitations of Ethereum. The layer-2 roll-up option re-routs transactions from the mainnet, relieving the base layer. This helps keep gas fees low, enhancing the overall user experience.\u00a0<\/span><\/p>\n

Based on L2Beat\u00a0<\/span>data<\/span><\/a> on January 4, Arbitrum is the largest layer-2 scaling solution with a total value locked (TVL) of over $9.8 billion. Of note, Arbitrum has implemented a permission fraud-proof system that overly enhances transaction transparency, allowing for the effective monitoring of its sequencer’s activities.<\/span><\/p>\n

\"Arbitrum
Arbitrum TVL | Source: L2Beat<\/figcaption><\/figure>\n

Arbitrum Orbit Supports Custom Tokens For Gas Payment<\/span><\/h2>\n

The uptick in social media activity also follows the recent enhancements to\u00a0<\/span>Arbitrum Orbit<\/span><\/a>. Launched in Q1 2023, the platform allows developers to build layer-3 protocols on Arbitrum.\u00a0<\/span><\/p>\n

Protocol developers have now added support for custom gas tokens. This feature relieves Orbit chain deployers from using ETH to pay gas fees and, instead, opt to select ERC-20 tokens, including ARB.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Price Reclaims $43,000 On Rumor Of ETF Approval Tomorrow<\/a><\/div>\n

With Arbitrum Orbit evolving, developers and projects launching on layer-3 solutions will have more flexibility. This move will also likely enhance the utility of their respective tokens, boosting demand and even prices since they are not tied to using ETH or, expressly, ARB to pay gas fees.\u00a0<\/span><\/p>\n

Feature image from Canva, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"

There is an upswing in social media mention of ARB, the native token of Arbitrum, a layer-2 scaling solution for Ethereum, suggesting growing interest and potential for price gains. According to AlphaScan data\u00a0on January 4, ARB had the “best sentiment” in the last 24 hours, with more than 40% of all weekly mentions occurring within this timeframe. Notably, ARB was the most mentioned token, right behind Bitcoin. This surge in positive sentiment shows in the weekly timeframe, where over 30% of all monthly mentions occurred in the last week of December. ARB Is Trending As Prices Rise To 2024 Highs Social media mentions can be a good metric for tracking sentiment. As such, with ARB trending, only trailing Bitcoin, it could show that the crypto community is taking note of the project and tracking its progress. Since there was no hack or steep losses on January 3, the ARB social media count spike is a net bullish for the project. Related Reading: Crypto Analyst Predicts Bullish Hammer For XRP In Upcoming Move Interestingly, ARB is trending across social media platforms when token prices are at an all-time high and decentralized finance (DeFi) activity is recovering. From the daily chart, ARB is changing hands at around $2, the highest price point for the token, according to Binance data.\u00a0 In 2023 alone, ARB surged roughly 300% from March 2023 lows, peaking in late December. The uptrend remains, and bulls are pressing on, absorbing any attempts for lower lows. Arbitrum plays a key role in addressing the scaling limitations of Ethereum. The layer-2 roll-up option re-routs transactions from the mainnet, relieving the base layer. This helps keep gas fees low, enhancing the overall user experience.\u00a0 Based on L2Beat\u00a0data on January 4, Arbitrum is the largest layer-2 scaling solution with a total value locked (TVL) of over $9.8 billion. Of note, Arbitrum has implemented a permission fraud-proof system that overly enhances transaction transparency, allowing for the effective monitoring of its sequencer’s activities. Arbitrum Orbit Supports Custom Tokens For Gas Payment The uptick in social media activity also follows the recent enhancements to\u00a0Arbitrum Orbit. Launched in Q1 2023, the platform allows developers to build layer-3 protocols on Arbitrum.\u00a0 Protocol developers have now added support for custom gas tokens. This feature relieves Orbit chain deployers from using ETH to pay gas fees and, instead, opt to select ERC-20 tokens, including ARB.\u00a0 Related Reading: Bitcoin Price Reclaims $43,000 On Rumor Of ETF Approval Tomorrow With Arbitrum Orbit evolving, developers and projects launching on layer-3 solutions will have more flexibility. This move will also likely enhance the utility of their respective tokens, boosting demand and even prices since they are not tied to using ETH or, expressly, ARB to pay gas fees.\u00a0 Feature image from Canva, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":568134,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[88023,84309,91064,91063,88077,428,679,54512,1946,6931],"class_list":["post-568133","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-arb","tag-arbitrum","tag-arbitrum-orbit","tag-arbtrium-price","tag-arbusdt","tag-bitcoin","tag-bitcoin-price","tag-defi","tag-ethereum","tag-ethereum-price"],"acf":[],"yoast_head":"\nArbitrum Is Trending On Social Media, Time For ARB To Rip Higher?<\/title>\n<meta name=\"description\" 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His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Arbitrum Is Trending On Social Media, Time For ARB To Rip Higher?","url":"http:\/\/wncen.com\/news\/arbitrum-rending-social-media-arb\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/arbitrum-rending-social-media-arb\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Crypto-news-Template152.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Crypto-news-Template152.jpg?fit=1380%2C780"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["arb","arbitrum","arbitrum orbit","arbtrium price","arbusdt","bitcoin","bitcoin price","defi","ethereum","ethereum price"],"dateCreated":"2024-01-05T01:30:41Z","datePublished":"2024-01-05T01:30:41Z","dateModified":"2024-06-11T14:44:03Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Arbitrum Is Trending On Social Media, Time For ARB To Rip Higher?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/arbitrum-rending-social-media-arb\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/arbitrum-rending-social-media-arb\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Crypto-news-Template152.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Crypto-news-Template152.jpg?fit=1380%2C780\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"arb\",\"arbitrum\",\"arbitrum orbit\",\"arbtrium price\",\"arbusdt\",\"bitcoin\",\"bitcoin price\",\"defi\",\"ethereum\",\"ethereum price\"],\"dateCreated\":\"2024-01-05T01:30:41Z\",\"datePublished\":\"2024-01-05T01:30:41Z\",\"dateModified\":\"2024-06-11T14:44:03Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Crypto-news-Template152.jpg?fit=1380%2C780","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/568133"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=568133"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/568133\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/568134"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=568133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=568133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=568133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}