Arbitrum (ARB)’s ecosystem developments & metrics indicate continued uptrends
The Arbitrum project has made waves in the crypto market lately, with the project emerging as the layer2 protocol with the most liquidity. ARB gained more than 25% within the past week and 10.12% in the last day to hover at $0.9748.
Furthermore, the project shared a crucial announcement with its community on October 25. According to the X post, the network integrated CelestiaOrg, making their technology accessible for Orbit chains.
Announcing integration into @Arbitrum Orbit 🪐 and the full Nitro ⚡ stack.
Developers can soon deploy a high-throughput Orbit chain as easily as a smart contract using Celestia as modular DA ✨https://t.co/b35roVDk26 pic.twitter.com/IdOhZLObBF
— Celestia (@CelestiaOrg) October 25, 2023
Moreover, the integration will enable developers to create Orbit Chains that use CelestiaOrg’s medium DA layer seamlessly.
Besides the ecosystem developments, Arbitrum showed optimistic metrics. For instance, Santiment observed that the alt noted recoveries in Social Dominance and Weighted Sentiment, confirming investor faith in ARB.
Also, the crypto recorded remarkable volume over the past two days, with the metric hitting 3-month highs of 420.48 million on October 24. High volume amidst upside price movements showed players were trading ARB. Nonetheless, its volume dipped to 244.47 million during this publication.
Arbitrum’s potential bullishness
ARB’s price signals confirm possible uptrends for the altcoin. The altcoin has maintained uptrends since its opening price. Also, the Moving Average Convergence Divergence moved past the zero line, with the MACD line fluctuating beyond the signal line to highlight massive bullishness.
Further, the Relative Strength Index displayed enormous buying momentum, reading 62.73. the RSI noted a slight dip at this writing, confirming steady buying actions in the coming days.
Also, the broad crypto market supports Arbitrum’s optimism. Bitcoin has extended its upside, gaining 1.93% within the past day to trade at $34,551. Furthermore, the leading crypto seems ready to skyrocket higher as the fear and greed index soared to 71.
#Bitcoin Fear & Greed Index reaches its highest level since November 2021. pic.twitter.com/CDLftYzRe9
— CoinGecko (@coingecko) October 26, 2023
Further, analysts trust a broad-based bullish rally is a matter of when. Significant surges in the crypto sector will see Arbitrum extending its current upside journey.
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