Arbitrum (ARB) price is currently precariously trading above the $1.10 support level after another exploit incident this week. Can ARB price shake off the market FUD and hold the $1.10 support level? 

This week, Rodeo Finance, a DeFi Yield-Farming protocol built on the Arbitrum network, suffered a $1.5 million exploit. Arbitrum (ARB) price has held the $1.10 support level since blockchain intelligence platform, Peckshield confirmed the hack on July 11. 

New Users Could Help Maintain the Current ARB Support Level

Despite the FUD surrounding the recent exploit, Arbitrum has attracted many new users this week. According to data compiled by Santiment, ARB Network Growth surged 40% from 2,585 to 3,631 new wallet addresses between July 5 and July 13. 

Network Growth tracks the number of new wallet addresses created on a blockchain network. This estimates the ecosystem’s new-user acquisition rate. When it rises, it suggests that the underlying token will likely attract new demand in the near future. 

The 40% surge in Network Growth suggests that the FUD surrounding Rodeo Finance has not spread over to ARB. If this condition holds true in the coming days, th

Go to Source to See Full Article
Author: Ibrahim Ajibade

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details