Arbitrum [ARB] is currently at risk of establishing a lifetime low driven by negative market conditions. It has witnessed a notable decline of 31.67% in the past month and an additional drop of 4.44% in just 24 hours.
A rise in active addresses has been observed, increasing from around 224,000 to 262,000. However, the Average Time Held of ARB has plummeted by 79.96%, suggesting investors lack strong incentives to hold the asset.
Whale activity is prominent, with a considerable $15.2 million ARB transaction observed. If ARB does not reclaim its support level at $0.4685, the price may plunge to $0.3453, forming a new all-time low, though upcoming stablecoin developments could offer some hope.
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