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Arbitrum searches for price push amidst rising metrics

  • Arbitrum experienced a significant surge in liquidity outflow, setting a new daily record.
  • ARB struggled to surpass the $1 price range, facing bearish trends and diminished volume momentum.

The Arbitrum [ARB] network, despite being a newcomer in the sphere, has been buzzing with exceptional levels of activity, as indicated by various metrics. According to DefiLlama’s recent data, the network recently experienced a monumental surge in liquidity outflow, marking its highest daily outflow.

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Arbitrum sees massive liquidity flow

25 May witnessed a significant milestone for Arbitrum, as it experienced its largest net daily liquidity outflow, according to DefiLlama. Likewise, in a Twitter post, Emperor Osmo highlighted that Arbitrum recorded an outflow of over 51 million USD Coin [USDC] in the last 24 hours. Over 113 million USDCs were processed on the network during this timeframe. 

As of this writing, Arbitrum boasted the highest deposits among the top chains, with over 57 million USDC, per DefiLlama rankings. Its 24-hour Netflow displayed a positive trend, surpassing 7 million USDC. However, when observing the seven-day Netflow, a noteworthy negative netflow of over 128 million USDC was observed, indicating the highest outflow among the top chains.

Source: DefiLlama

Volume and TVL ahead of major chains

Besides its remarkable liquidity flow, Arbitrum demonstrated a robust level of activity based on the overall volume metric provided by DefiLlama. As of this writing, Arbitrum had secured the third-highest volume in the past 24 hours. Within that timeframe, the volume exceeded $283 million; over the last seven days, it reached an impressive $1.72 billion. 

Furthermore, the cumulative volume accumulated by the chain surpassed $90 billion. Notably, the network’s liquidity and volume significantly determined its Total Value Locked (TVL). As of this writing, Arbitrum’s TVL stood at over $1.4 billion, placing it ahead of prominent chains such as Polygon and Solana.

ARB shows different prospects

Despite the considerable activity on the Arbitrum network, its native token, ARB, has struggled to surpass the $1 price range. Since its launch, the daily timeframe chart indicated that ARB had consistently fluctuated below the $2 mark. However, it is essential to note that the token’s existence is relatively short.

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At the time of writing, ARB was trading at approximately $1.1, representing a modest 3% increase in value. Despite this uptrend, the overall trend remained bearish, as indicated by the Relative Strength Index (RSI) line. 

ARB/USD Price move

Source: TradingView

Additionally, the volume momentum had diminished, based on the volume metric. At press time, ARB’s volume stood at around 164 million, which was significantly lower compared to April’s 2 billion volume.

ARB volume

Source: Santiment

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