Bitcoin's Price Surge Leads to $100M Loss for Short Traders Amid Anticipation of U.S. ETF Approval
5 months ago 1 min read

Bitcoin’s Price Surge Leads to $100M Loss for Short Traders Amid Anticipation of U.S. ETF Approval

Bitcoin’s recent price surge, which saw it surpass $47,000 for the first time since March 2022, resulted in significant losses exceeding $100 million for traders who had taken short positions, betting against the crypto’s rise. This loss comes as the market waits for the approval of a Bitcoin Exchange-Traded Fund (ETF) in the United States. Users on exchanges such as OKX and Binance suffered significant losses. Bitcoin’s price increase coincides with significant developments in the ETF space, such as BlackRock’s filing fees with the US SEC. Filing fees are usually one of the last steps before an ETF can be

Arbitrum soared to an eight-month high of over $1.5
5 months ago 1 min read

Arbitrum (ARB) Surges By Over 20%, Hitting 8-Month High

Arbitrum, Ethereum’s layer-2 network, soared to an eight-month high of $1.4567. The surge amounted to an impressive 20% increase in the last 24 hours, accompanied by a significant 315% increase in trading volume. This surge increased Arbitrum’s market capitalization by an astounding 15%. During this market frenzy, significant strategic moves were revealed. Spotonchain data revealed that a whale identified as 0x0db withdrew 2.91 million ARB, worth $3.53 million, from OKX at $1.21. This strategic move resulted in a holding of 4.15 million ARB, valued at $5.62 million, with a notable floating gain of $924K. It’s worth noting that this whale

Arbitrum (ARB) could reach $6 in 2024
6 months ago 2 mins read

Will Arbitrum (ARB) reach $6 in 2024?

Arbitrum, Ethereum’s layer-2 scaling solution, has emerged as a game changer in the crypto space. This scaling solution, developed by New York-based Off-chain Labs, has gained significant traction since its mainnet launch last year. Let’s look at its features, adoption, and price predictions for 2024. Arbitrum’s Function and Success Arbitrum, as a layer-2 scaling solution, reduces congestion on the Ethereum blockchain by facilitating efficient and cost-effective transactions. This is accomplished by validating transactions independently and integrating them into the main chain. Its success can be seen in the number of developers who use its solutions to host decentralized applications (dApps).

Binance Japan has announced the inclusion of 13 new tokens on its platform for Japanese users, scheduled for November 27.
7 months ago 1 min read

Binance Japan lists $HBAR, $NEAR, $ARB, $OP, $GRT, $IMX, $RNDR, $MANA, $EOS, $GALA, $APE, $KLAY, and $LSK

Binance Japan has announced the inclusion of 13 new tokens on its platform for Japanese users, scheduled for November 27. This move will bring the total number of tokens on the exchange to 47, solidifying its position as a major cryptocurrency platform in the country. Among the newly added tokens are well-known protocols like Near Protocol (NEAR), Optimism (OP), and Arbitrum (ARB). The inclusion of these assets enhances the diversity of Binance Japan’s token offerings, catering to the preferences of a wide range of users. The list of added tokens includes $HBAR, $NEAR, $ARB, $OP, $GRT, $IMX, $RNDR, $MANA, $EOS,

Arbitrum Airdrop Spurs Adoption Amidst Unfavorable Crypto Market Climate
12 months ago 1 min read

Arbitrum Airdrop Boosts Network Adoption Despite Bearish Crypto Market: Nansen Report

A recent report by blockchain analytics firm Nansen highlights the positive impact of the Arbitrum airdrop on network adoption, despite prevailing bearish sentiment in the crypto markets. The airdrop not only led to a surge in users and transactions on the Arbitrum network but also contributed to sustained high usage even after the airdrop concluded. This sets Arbitrum apart from other layer-2 networks like Optimism, which experienced stagnant or declining usage during the same period. The Nansen report reveals that the Arbitrum network surpassed Ethereum, its base layer, in terms of usage on certain days. This surge in activity demonstrates

USDC Stablecoin Integrated with Arbitrum
12 months ago 1 min read

USDC Launches on Arbitrum, Expanding the Reach of the Stablecoin

Circle, the company behind USDC, has brought its native stablecoin to Arbitrum, Ethereum’s leading layer 2 scaling solution. This development makes Arbitrum the ninth blockchain to support USDC, according to an official announcement from Circle. The integration of USDC on Arbitrum allows businesses leveraging Circle to conveniently swap USDC tokens across supported chains, eliminating the expenses and time delays often associated with bridging transactions. This functionality opens up new possibilities for seamless and efficient token transfers. In light of a recent bug in Arbitrum’s Sequencer software that temporarily halted on-chain transaction verification, Circle’s introduction of USDC on the Arbitrum network

12 months ago 1 min read

Arbitrum Expands Reach to Norway with NOK Token Integration

Arbitrum, a leading Layer 2 scaling solution for Ethereum, has announced the integration of Norway’s digital currency, NOK. The integration will allow users to transact in NOK on Arbitrum, and it is the first time that a national currency has been integrated with a Layer 2 scaling solution. The integration was made possible by Symfoni Solutions, a company that specializes in building bridges between government services and decentralized finance (DeFi) applications. Symfoni developed a bridge that connects the Norwegian central bank’s digital currency platform with Arbitrum. The integration of NOK on Arbitrum is a significant development for the DeFi ecosystem.

Circle (USDC) has announced that it will natively deploy USDC on Arbitrum
12 months ago 2 mins read

Circle’s USDC Stablecoin to Launch on Arbitrum

Circle, the issuer of the second-largest stablecoin USDC, has announced that it will natively deploy USDC on Arbitrum, the largest Ethereum Layer-2 scaling project. The move is a major step for USDC, as it will make the stablecoin more accessible to users who are looking to avoid the high gas fees associated with Ethereum. Arbitrum is a popular Layer-2 scaling solution that uses optimistic rollups to achieve scalability. Optimistic rollups allow for faster and cheaper transactions on Ethereum by batching transactions off-chain and then submitting them to the Ethereum mainnet for verification. The deployment of USDC on Arbitrum will make