{"id":531057,"date":"2023-05-10T21:00:08","date_gmt":"2023-05-10T21:00:08","guid":{"rendered":"https:\/\/wncen.com\/?p=531057"},"modified":"2024-06-11T14:36:17","modified_gmt":"2024-06-11T14:36:17","slug":"arbitrum-arb-surges-in-the-past-24-hours-heres-why","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/arbitrum-arb-surges-in-the-past-24-hours-heres-why\/","title":{"rendered":"Arbitrum (ARB) Surges Nearly 10% In The Past 24 Hours, Here\u2019s Why"},"content":{"rendered":"

Arbitrum (ARB), one of the recently launched Ethereum-based Layer 2 scaling solutions, has seen a surge in its price by almost 10% in the past 24 hours. The surge comes when the global crypto market seems to be in an upward trend. However, the Arbiturm spike can be tied to a different factor.<\/span><\/p>\n

The recent increase in ARB’s value can be linked to the protocol’s announcement<\/a> about how it plans to manage the fees generated on its platform.<\/p>\n

Arbitrum Update On DAO Revenue<\/h2>\n

In the Twitter announcement posted earlier today, the Arbitrum team noted it is “the only rollup that sends all surplus revenue generated by transaction fees to their respective DAO. It is time for the DAO to collect the funds so far.”<\/p>\n

Related Reading: Arbitrum Soars 44% To Record Highs As Whales Splash Millions On ARB Tokens<\/a><\/div>\n

Notably, the Arbitrum<\/a> protocol allows users to transact on the platform with reduced transaction fees and faster speeds than the Ethereum network. The protocol requires users to pay a fee when transacting on the network.\u00a0<\/span><\/p>\n

The fee paid is split into two sections, including Layer 1 (L1) fees for covering transactions on Ethereum and L2 fees for Arbitrum fees. As per the protocol’s mechanism, surplus tokens are generated by the fees and are accumulated before being sent to the DAO<\/span>.<\/span><\/p>\n

The DAO revenue mechanism on Arbitrum now enables token holders to reap the rewards of accumulated surplus fees. When the organization collects the tokens, members of the Arbitrum community DAO will receive their share of the fees. This substantial increase in benefits has contributed to the current surge in the token’s value and the value of becoming its long-term holder.<\/p>\n

It is worth noting that the distribution of rewards resulting from this development will benefit members of the Arbitrum community DAO, which could lead to a significant increase in demand for ARB as users aim to capitalize on the opportunity to earn rewards.<\/span><\/p>\n

ARB Surges Nearly 10%<\/h2>\n

Following the DAO revenue mechanism announcement, the price of ARB has recorded a bullish uptick<\/a>, up by 8.7%, with a trading price of $1.19<\/a> at the time of writing. The assets have also seen a surge in its market cap, surging by over $100 million in the past 24 hours.<\/span><\/p>\n

\"Arbitrum
Arbitrum (ARB) price on the 1-hour chart. | Source: ARB\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Despite the surge, Arbitrum has fallen from its previous rank of #32 among the global crypto market to ranking #38. However, according to the activity in its trading volume, the token might soon be quick to reclaim its spot.<\/span><\/p>\n

CoinMarketCap data shows Arbitrum\u2019s trading volume hasn\u2019t moved much in the past 24 hours. Instead, it has only continued to range between $300 million and $400 million, indicating a possible accumulation.\u00a0<\/span><\/p>\n

Related Reading: Bullish Momentum Expected For ARB As Arbitrum Completes DAO Airdrop<\/a><\/div>\n

Notably, the DAO revenue mechanism incentivizes platform users to hold ARB tokens, and it could increase the demand for ARB. This, in turn, will benefit the protocol and its users as it increases the network’s value and liquidity. <\/span><\/p>\n

Featured image from iStock, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Arbitrum (ARB), one of the recently launched Ethereum-based Layer 2 scaling solutions, has seen a surge in its price by almost 10% in the past 24 hours. The surge comes when the global crypto market seems to be in an upward trend. However, the Arbiturm spike can be tied to a different factor. The recent increase in ARB’s value can be linked to the protocol’s announcement about how it plans to manage the fees generated on its platform. Arbitrum Update On DAO Revenue In the Twitter announcement posted earlier today, the Arbitrum team noted it is “the only rollup that sends all surplus revenue generated by transaction fees to their respective DAO. It is time for the DAO to collect the funds so far.” Related Reading: Arbitrum Soars 44% To Record Highs As Whales Splash Millions On ARB Tokens Notably, the Arbitrum protocol allows users to transact on the platform with reduced transaction fees and faster speeds than the Ethereum network. The protocol requires users to pay a fee when transacting on the network.\u00a0 The fee paid is split into two sections, including Layer 1 (L1) fees for covering transactions on Ethereum and L2 fees for Arbitrum fees. As per the protocol’s mechanism, surplus tokens are generated by the fees and are accumulated before being sent to the DAO. The DAO revenue mechanism on Arbitrum now enables token holders to reap the rewards of accumulated surplus fees. When the organization collects the tokens, members of the Arbitrum community DAO will receive their share of the fees. This substantial increase in benefits has contributed to the current surge in the token’s value and the value of becoming its long-term holder. It is worth noting that the distribution of rewards resulting from this development will benefit members of the Arbitrum community DAO, which could lead to a significant increase in demand for ARB as users aim to capitalize on the opportunity to earn rewards. ARB Surges Nearly 10% Following the DAO revenue mechanism announcement, the price of ARB has recorded a bullish uptick, up by 8.7%, with a trading price of $1.19 at the time of writing. The assets have also seen a surge in its market cap, surging by over $100 million in the past 24 hours. Despite the surge, Arbitrum has fallen from its previous rank of #32 among the global crypto market to ranking #38. However, according to the activity in its trading volume, the token might soon be quick to reclaim its spot. CoinMarketCap data shows Arbitrum\u2019s trading volume hasn\u2019t moved much in the past 24 hours. Instead, it has only continued to range between $300 million and $400 million, indicating a possible accumulation.\u00a0 Related Reading: Bullish Momentum Expected For ARB As Arbitrum Completes DAO Airdrop Notably, the DAO revenue mechanism incentivizes platform users to hold ARB tokens, and it could increase the demand for ARB. This, in turn, will benefit the protocol and its users as it increases the network’s value and liquidity. Featured image from iStock, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":516386,"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":[142,88023,84309],"class_list":["post-531057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-arb","tag-arbitrum"],"acf":[],"yoast_head":"\nArbitrum (ARB) Surges Nearly 10% In The Past 24 Hours, Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"Arbitrum (ARB), one of the recently launched Ethereum-based Layer 2 scaling solutions, has seen a surge in its price by almost 10%...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Arbitrum (ARB) Surges Nearly 10% In The Past 24 Hours, Here\u2019s Why","url":"http:\/\/wncen.com\/news\/arbitrum-arb-surges-in-the-past-24-hours-heres-why\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/arbitrum-arb-surges-in-the-past-24-hours-heres-why\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/DeFi.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/DeFi.jpg?fit=350%2C250"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","arb","arbitrum"],"dateCreated":"2023-05-10T21:00:08Z","datePublished":"2023-05-10T21:00:08Z","dateModified":"2024-06-11T14:36:17Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Arbitrum (ARB) Surges Nearly 10% In The Past 24 Hours, Here\\u2019s Why\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/arbitrum-arb-surges-in-the-past-24-hours-heres-why\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/arbitrum-arb-surges-in-the-past-24-hours-heres-why\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/DeFi.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/DeFi.jpg?fit=350%2C250\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"arb\",\"arbitrum\"],\"dateCreated\":\"2023-05-10T21:00:08Z\",\"datePublished\":\"2023-05-10T21:00:08Z\",\"dateModified\":\"2024-06-11T14:36:17Z\"}<\/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\/2023\/01\/DeFi.jpg?fit=350%2C250","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/531057"}],"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\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=531057"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/531057\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/516386"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=531057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=531057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=531057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}