ARB down over 12% – reversing recent price surge as altcoins bleed ARB down over 12% – reversing recent price surge as altcoins bleed
Arbitrum price fell by over 12% in the last 24 hours as Bitcoin broke below the $30,000 mark — dragging other altcoins with it.
2 min read
Updated: Apr. 19, 2023 at 1:18 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
According to CryptoSlate data, Arbitrum (ARB) reversed its recent surge and fell by 12.69% in the last 24 hours.
The fall came at a time when Bitcoin (BTC) also fell below the $30,000 mark — pulling many altcoins down with it, including ARB.
Seven days before the time of writing, on April 12, ARB was being traded at around $1.167. The token started to surge after that and reached as high as $1.795 on April 18 — marking over a 53% increase in six days.
The surge was also noticed by whales as well. Data from April 18 revealed that whales have been trading ARB during the week of April 10 – 17.
As of April 18, there are 23 whale accounts that hold over 1 million ARB tokens. During the week, nine whale wallets cumulatively bought 12.4 million ARB tokens between $1.2 and $1.5. In the meantime, three whales sold a total of 22.8 million ARB from $1.37 and $1.69.
However, despite the weekly surge in ARB prices, CryptoSlate data indicates that the token price is 94.18% lower than 30 days ago.
BTC flash crash
On April 19 at 07:00 UTC, BTC broke below $30,000. According to CryptoSlate data, BTC’s performance over the last 24 hours sits at a 2.21% decrease.
On April 14, BTC surged as high as $30,963. At the time of writing, it is being traded for $29,255 — marking a 5.5% decrease.
Meanwhile, among the top 100 altcoins, the most prominent losers in the wreckage of the flash crash were Dash down 4.4%, MultiversX down 4.1%, and CurveDAO down 4%.
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Author 
Zeynep Geylan
Zeynep is an academic who turned to crypto in 2018. Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power.
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