Arbitrum (ARB) has been attracting attention lately as Ethereum holds above $2K and demand for Layer 2 scaling solutions like ARB is rising. Market watchers are now monitoring the Arbitrum price chart for signs of a potential rally. Can ARB hit $10 this year, and if so, what would be a realistic path?
Failed Token Recovery After Foundation Transfer
In an unexpected twist on April 15, the Arbitrum Improvement Proposal (AIP-1.05) faced a strong backlash.
— Jason Fernandes (@TokenJay) April 16, 2023
Intended to recover 700 million ARB tokens for the DAO Treasury, the proposal aimed to undo the Arbitrum Foundation’s controversial decision to transfer $1 billion worth of tokens without DAO approval.
Meanwhile, according to a recent Dune Analytics report, Arbitrum (ARB) reached a notable milestone on April 17, as the number of wallet addresses exceeded 5 million.
The ARB ecosystem has now processed nearly 200 million transactions since its inception. This expansion is due in part to Arbitrum’s robust development cycle and the excitement surrounding its March 23 airdrop event, where 1.275 billion ARB tokens were distributed among 625,143 eligible addresses, sparking further interest in the platform.
Arbitrum Price Prediction and Technical Analysis
Arbitrum is experiencing a rollercoaster of price movements today, setting a new YTD high at $1.82 earlier before sellers stepped in and pushed the price down to its current level of $1.66.
Despite this selling pressure, ARB remains in the green, posting a 3.66% gain so far today.
Taking a closer look at the 4-hour time frame, the exponential moving averages (EMAs) for Arbitrum (ARB) are in a bullish alignment, with the 20-EMA at $1.64, above the 50-EMA at $1.52, and the 50-EMA above the 100 EMA at $1.42.
This bullish alignment suggests that the uptrend remains intact, despite the recent selling pressure.
The relative strength index (RSI) currently stands at 54.24, indicating that the market is neither overbought nor oversold.
This neutral position could provide an opportunity for traders to enter the market without the fear of an immediate reversal.
According to CoinMarketCap, the 24-hour trading volume for ARB has surged by 52.01% to $1,613,897,120, highlighting a significant increase in buying interest.
This uptick in volume could potentially drive the price higher in the short term.
Looking at the price action, the previous close was at $1.60, with a daily price movement of -5.11%.
However, the current daily price of $1.66 showcases a 3.66% gain, indicating that buyers are still present in the market.
The immediate resistance level for ARB lies at $1.82. On the downside, if the price falls further in the 4-hour timeframe, the Fibonacci 0.382 level at $1.56 may potentially act as support.
This level could provide an attractive entry point for traders looking to capitalize on a bounce.
A short-term trading strategy could involve buying on a retracement towards the potential support level at $1.56, with an initial target of $1.82.
As always, proper risk management and position sizing are crucial to protect against adverse market movements.
Exploring the Crypto Landscape: 3 Altcoins to Watch Beyond Arbitrum Price
As the Arbitrum price continues to capture market attention, let’s shift our focus to three altcoins that are getting attention in the crypto world.
These innovative projects–Love Hate Inu, DeeLance, and ecoterra–are shaking things up in their respective sectors, offering unique solutions and opportunities for investors.
Love Hate Inu: The New Meme Coin with an Exclusive Vote-to-Earn Feature
The cryptocurrency community has been raving about Love Hate Inu, the latest meme coin in the crypto space.
This coin introduces an exclusive vote-to-earn (V2E) feature along with staking options.
In under a month, the groundbreaking V2E crypto Love Hate Inu has amassed over $4.5 million during its public presale.
Words to remember from our Top Inu #DonaldJPumpInu!️
'We have the best team, tremendous people, very smart, very talented.
We're making meme teams great again, and nobody does it better than us.
— Love Hate Inu (@LoveHateInu) April 18, 2023
LHINU is looking to develop a community-focused platform that actively rewards user engagement and contributes to the meme coin’s market value.
As the first-ever V2E platform, LHINU allows users to earn by expressing their opinions on a variety of subjects and contentious issues, from politics and sports to music.
Whether you adore or despise Elon Musk, Donald Trump, or Andrew Tate, users of this website will be rewarded for engaging in discussions and casting their votes about these figures and a plethora of other topics and concerns.
By joining the Love Hate Inu platform, one can freely express “Love” or “Hate” and receive LHINU tokens in return.
However, to partake in Love Hate Inu voting, participants must hold the native LHINU coin.
Love Hate Inu seeks to legitimize online voting and eliminate bots and other manipulative tactics by requiring users to possess LHINU tokens before casting their votes.
By staking LHINU tokens, users can partake in the latest polls to earn the tokens. Over time, the community will also decide which polls to create.
Only six days remain before the next presale price increase from $0.000115 to $0.000125 in Stage 6 of the eight-stage presale.
How DeeLance’s Web3 Setting is Revolutionizing the Freelancing Industry
The freelance economy is booming, with 38% of the global workforce now made up of freelancers.
Platforms such as Fiverr have grown exponentially, with valuations soaring from $0.75 billion in 2019 to $1.34 billion in 2023.
DeeLancers, it's time to celebrate!
We have reached another incredible milestone by raising over $250,000!
— DeeLance (@deelance_com) April 18, 2023
But a new contender, DeeLance, is making noise as it aims to address the issues often encountered in conventional hiring platforms.
DeeLance leverages blockchain technology in a Web3 setting to create a more efficient and transparent freelancing marketplace.
Though still in the early stages, the project has garnered significant support, raising over $260,000 in its presale so far.
In contrast to traditional platforms, DeeLance employs Web3 technologies to offer a host of benefits, including lower costs, faster refunds, and zero fraud.
The principles that steer the platform are centered on four core values: ownership, simplicity, transparency, and efficiency.
They aim to achieve these goals through reduced fees, expedited payment processing, and a reliable escrow account system for transaction security.
DeeLance’s ecosystem offers advantages for both companies and freelancers.
Smart contracts facilitate transactions, ensuring timely payments and work completion. Furthermore, the platform will use non-fungible tokens (NFTs) to establish intellectual property ownership.
Through this feature, clients are provided with complete ownership of their purchased work, which deters freelancers from reusing or recycling finished projects.
The blockchain-based nature of DeeLance reduces reliance on intermediaries, streamlines transactions, and simplifies the hiring process.
Additionally, DeeLance is developing a metaverse specifically for hiring and freelancing, allowing for virtual meetings and interviews, as well as providing an avenue for freelancers to showcase their skills.
Interested parties can purchase the DLANCE token at $0.025 using Ethereum, Tether, or fiat via credit card.
How ecoterra is Revolutionizing Recycling Adoption Through Token Rewards
As ecoterra’s Recycle-2-Earn app gains increasing attention, the company has already amassed $1.72 million, with over $300,000 collected within just the past day.
Climate change causes major ecosystem disruptions, species extinction and food insecurity for communities worldwide
By promoting recycling and offsetting CO2 emissions, we are working towards a better future ♻️
— ecoterra (@ecoterraio) April 18, 2023
The app, which exceeded presale expectations, presents an opportunity for those who want to support its sustainable objectives.
ecoterra’s mission is to boost recycling adoption, and its app offers incentives like recycling token rewards and ecological actions to facilitate that.
The app also provides access to recycled materials, carbon offset marketplaces, and a personalized impact profile to monitor users’ ecological efforts.
ecoterra’s decentralized system has attracted widespread interest as it addresses environmental degradation and climate change head-on.
ecoterra has begun integrating big-name brands like Vittel, San Pellegrino, and Pepsi, into their app’s scannable recyclable materials database.
Users can scan items, have them verified as recycled materials, and receive ecoterra tokens as rewards.
Notably, the company has also partnered with Delhaize, a leading supermarket chain, which has installed reverse vending machines in its stores, further promoting sustainability.
ecoterra empowers corporations to make a measurable ecological impact while eliminating greenwashing.
The blockchain-based network provides transparency, ensuring that companies can genuinely demonstrate their commitment to sustainability.
The platform also encourages environmentally friendly actions by incentivizing businesses and individuals to use their tokens for initiatives like beach cleanups and tree planting.
ecoterra’s potential for fostering a more sustainable future is evident, with various features such as generating income streams from renewable energy and facilitating NFT exchanges for ecological actions.
Wall Street Memes (WSM) - Newest Meme Coin
- Community of 1 Million Followers
- Experienced NFT Project Founders
- Listed On OKX
- Staking Rewards