ARB Lost 24% Over the Month Despite Increased Activity on the Arbitrum Network

Over the past 30 days, the Arbitrum (ARB) token has depreciated by approximately 24%, while Ether has decreased by 13% and Bitcoin by 5%. According to CoinGecko, on October 24, ARB reached $0.1638, the lowest in four weeks, and by the end of the day was trading around $0.167, losing about 5% for the day. In comparison, Ether decreased by about 2% and Bitcoin by 1% over the same period. On October 23 at 10:02 UTC, the token was priced at $0.1802, falling below the $0.183–0.186 range, which technical analysis from October 14 considered a potential retest zone but not a reliable support. At that time, ARB was valued at $0.1916, but the level could not be maintained.

The decline also affected other tokens related to Ethereum scaling. Over the month, OP from Optimism lost about 16%, and POL from Polygon about 17%. Over the past week, OP decreased by 16%, ARB by 9%, and POL by 5%. During the same period, Ether fell by approximately 3%, and Bitcoin by 1.5%. Meanwhile, activity on the Arbitrum One network moved in the opposite direction. According to Growthepie, the number of daily active addresses rose from 95,545 on September 26 to 563,669 on October 23. After a decrease from 571,767 addresses on October 21 to 299,959 the next day, the figure recovered. However, the number of active addresses does not reflect the number of unique network users.

The drop in ARB wiped out part of the September growth when the token gained more than 167% for the month and again exceeded $0.20. Simultaneously, the volume of tokenized assets under management on the Arbitrum network exceeded $800 million, and the volume of on-chain assets, according to a Cryptopolitan publication, increased from $9.38 billion to $11.18 billion over the month.