![Arbitrum [ARB]: Debut hit by sell-offs, what’s next for the token?](https://i.headtopics.com/images/2023/3/25/cryptoamb/arbitrum-arb-debut-hit-by-sell-offs-what-s-next-fo-arbitrum-arb-debut-hit-by-sell-offs-what-s-next-fo-1639681805015035905.webp)
ARB’s value has dropped by over 85% since launch. Daily transactions count on Arbitrum have begun its downward trend. Arbitrum’s [ARB] value has taken a hit after the token AirDrop on 23 March, with a surge in sell-off activity. According to the on-chain data provider Glassnode, the decline in value commenced soon after ARB was […]
Arbitrum also recorded a new daily high of 2.73 million transactions on 23 March, surpassing the previous high of 1.10 million transactions registered on 21 February.
However, with increased ARB token sell-off and the gradual dissipation of the hype surrounding the token-launch event, daily transactions count on Arbitrum have trended downwards in the last two days. As of 24 March, the chain saw a total count of 1.82 million transactions, representing a 33% decline in just 24 hours.With many letting go of their airdropped ARB tokens to cash in quick gains, the number of ARB unique holders dwindled in the past two days.
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