ARB Market Plummets 14%, But New Developments Could Reverse The Trend
02 Agosto 2024 - 4:30PM
NEWSBTC
Arbitrum resumes its drive downward along with the broader market
downturn investors are experiencing today. According to the latest
market data, ARB is down nearly 14% since last week, putting more
pressure on the bulls to slow the bearish tide. However,
there are several developments on the platform that might affect
investor perception in the long term. These new deployments might
make or break the early half of the month for investors and traders
alike. Related Reading: Render Continues To Flash Red In All
Timeframes – What’s Going On? Multiple Projects Now Support
Arbitrum Metalend, a blockchain lending company, recently announced
its support for Arbitrum on its native platform. This new addition
to the Arbitrum circle will further push users to the platform,
leveraging Metalend’s already big following. With Arbitrum’s
growing position in the lending space of crypto, the platform might
experience growth in that sector of the market. However, they’re
not the only ones to join the fray. MetaLend is excited to
announce that we have launched support for @arbitrum! You can now
go to https://t.co/xnBCsmSwdo to track and trade (leveraging DEX
aggregators) your @arbitrum portfolio. You can track multiple
wallets in one view and soon you will be able to submit limit… —
MetaLend – Manage All Your Wallets in One Place! (@MetaLend_DeFi)
July 30, 2024 Blockscout announced its support for Arbitrum One,
giving investors and traders access to a whole list of features for
them to analyze on-chain data on Arbitrum. Features like in-depth
block data, verified smart contracts, and full API access are some
of the things Arbitrum users will have access to because of
this. The platform’s DAppScout feature will also help users
filter dApps with low-security scores, improving user experience
while giving them the ability to keep their funds safe from
malicious actors. ArbOS 31 ‘Bianca’ To Bring More Devs
On-Board ArbOS 31 is a proposal that would expand Arbitrum’s
position within the dev space. If it passes, several key features
will be added like Stylus VM which will enable the Arbitrum chain
to support more programming languages like Rust and C++. To
make it simple, Stylus VM will be used by devs to code on their
language of expertise rather than switching to Solidity, Arbitrum’s
native coding language. This change will make smart contract
deployment easier as it makes any smart contract written on the
platform be compatible with existing Solidity-based smart
contracts. The proposal also covers the implementation of
Passkeys, a password-less system of identification to protect user
data and funds, and the Nova Fee Router which will make the
collection of fees on the Arbitrum DAO more efficient.
Arbitrum has also announced that voting for the proposal is now
live. A Long Time Recovery For ARB? The market’s bearishness
might continue until middle of August, which poses an important
question to ARB bulls: whether to attempt slowing the bears down
now or attempt at a later date. Related Reading: GRT Market Signals
12% Drop: Is A Turnaround Possible? ARB’s current position will
further endanger any potential of near future gains for investors
and traders. With the market environment favoring the bears in the
short to medium-term, more pain will be felt by investors and
traders. Investors should then wait for the perfect
opportunity, watching the movement of the broader market before
making a decision. Featured image from Wired, chart from
TradingView
Arbitrum (COIN:ARBUSD)
Gráfica de Acción Histórica
De Ago 2024 a Sep 2024
Arbitrum (COIN:ARBUSD)
Gráfica de Acción Histórica
De Sep 2023 a Sep 2024