Arbitrum Plummets 7.4% in One Hour Amid $1.79 Million in Long Liquidations

Arbitrum (ARB) experienced a sharp decline on Tuesday evening, losing 7.41% of its value in just one hour. At 10:03 p.m. ET (02:03 UTC), the price dropped to $0.1848, extending its 24-hour loss to 9.59%. The price had been at $0.1996 just an hour earlier. This data was collected from Binance’s ARB/USDT spot market.

The steep drop coincided with significant long liquidations, totaling $1.79 million across major exchanges like Binance, Bybit, and OKX. In contrast, short liquidations amounted to $0 million during the same period.

At the time of the report, ARB’s market capitalization stood at approximately $1.32231 billion, placing it 68th among crypto assets by market value.