The ARB token has been in a consistent downturn since its airdrop in March, but recent developments in the Ethereum and Arbitrum networks could boost investor sentiment and the ARB price. A Nansen report shows that Arbitrum’s activity has improved after the airdrop, with daily active users, gas fees, and transaction count consistently higher since April 2023. An upcoming update on Ethereum in the second half of 2023, along with revenue from the sequencer being passed on to the Arbitrum DAO, could also be potential catalysts for ARB upside.
– ARB ecosystem shows healthy growth after airdrop
– Ethereum update in H2 2023 could reduce transaction fees on Arbitrum
– Revenue from sequencer passed on to Arbitrum DAO could create yields for ARB holders
– “Smart money” and funds that accumulated ARB after the airdrop still holding
– ARB/USD pair shows possibility of descending wedge pattern
– Dencun update and decisions taken by Arbitrum Foundation will dictate ARB’s price action
