Arbitrum (ARB) price reached $0.95 on Wednesday, bringing its gains over the last 10 days to 25%. On-chain analysis pinpoints key indicators that could propel ARB price past the $1 in the days ahead. 

Arbitrum price rally has entered its second consecutive week, as bullish whale investors continue to pile on more buying pressure. With profits entering double-digits, can they hold out long enough for ARB price to reclaim $1? 

Rising Whale Demand is a Major Driving Factor Behind the Ongoing Arbitrum Rally

Arbitrum price has started racing up the top gainers’ charts as the crypto market rally enters its second consecutive week. The Ethereum Layer-2 scaling protocol has attracted unusually high demand from crypto whales, according to recent on-chain data readings.  

The chart below shows that millionaire crypto whales (wallets holding 1 million to 100 million ARB) have recently intensified their buying pressure. Between October 23 and November 1, they increased their cumulative holdings by 20 million ARB. 

Whales Wallet Balance metric provides a snapshot of real-time movements in the number of tokens held by a group of large investors. Typically, when whales keep buying during a ra

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Author: Ibrahim Ajibade

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