Arbitrum (ARB) Sees 6.16% Price Decrease in the Last 24 Hours
Arbitrum (CRYPTO: ARB) has experienced a recent price decrease of 6.16% over the past 24 hours, bringing its current price to $2.0. This comes as a surprise after the coin's upward trend of 4.0% over the past week, where it moved from $1.93 to its current value.
Comparing Price Movement and Volatility
To gain a better understanding of Arbitrum's recent price movement, let's compare its performance over the past 24 hours to its movement over the course of the last week. The chart below illustrates the fluctuation and volatility of the coin's price, with the gray bands representing the Bollinger Bands. These bands effectively measure the volatility for both the daily and weekly movements. The wider the bands are or the larger the gray area at any given moment, the greater the volatility.
Trading Volume and Circulating Supply
While the price of Arbitrum has seen a decline, the trading volume for the coin has actually increased by 2.0% over the past week. However, it's worth noting that the overall circulating supply of the coin has decreased by 0.01%. As a result, the current circulating supply of Arbitrum is estimated to be 12.75% of its maximum supply, which is a significant amount – 10.00 billion coins. In terms of market cap, ARB currently holds the rank of #43, with a value of $2.57 billion.
In conclusion, Arbitrum (ARB) has experienced a notable decrease in price over the past 24 hours, contradicting its positive performance over the last week. As the coin's price continues to fluctuate, it remains important for investors to closely monitor its movement and volatility to make informed decisions.
Analyst comment
This news can be evaluated as negative. Despite experiencing an up-trend over the past week, Arbitrum’s price has decreased by 6.16% in the past 24 hours. The increased trading volume could indicate some market interest, but the decrease in circulating supply may be a cause for concern. The market is likely to remain volatile, with a potential for further price fluctuations in the near future.
