Arbitrum: ARB gains in question as whales, retail investors pull back – BitRss

• The network recorded the highest netflow among layer-one blockchains, outperforming peers like Solana and Sui Network.
• However, market sentiment remains bearish, with little indication of an imminent rally.

After briefly reclaiming a price above $1, supported by a 26.19% weekly rally, Arbitrum [ARB] has declined by 0.50% in the last 24 hours. This drop persists despite bullish activity on the chain.

Analysis by AMBCrypto suggests that declining interest from retail and whale investors is a key factor contributing to the asset’s recent downturn.

Price remains stagnant as chain activity spikes

Artemis data shows that Arbitrum, home to the ARB token, recorded a significant spike in Chain Netflow over the past 24 hours, reaching $16.6 million. This figure surpassed prominent layer-one blockchains like Solana and Sui Network.