Arbitrum Plunges 3.7% Amid Macro-Driven Crypto Selloff

Arbitrum's price plummeted by 3.7% over the past 24 hours due to a macro-driven crypto selloff.

The US Producer Price Index (PPI) inflation came in hotter than expected on September 10, reigniting fears of further Federal Reserve tightening, which led to a significant drop in Bitcoin and subsequent losses for multiple large-cap altcoins.

Arbitrum was among the worst performers, dropping about 13% intraday alongside DASH and several others. The move was amplified by its recent narrative and positioning as a revenue-generating Layer 2 with multiple income streams, including transaction revenue, treasury income, and license fees from Robinhood Chain.

One trader summarized it as 'ARB just got hit with a major repricing,' noting a roughly 13% drop in 24 hours 'as traders reassessed the recent revenue-driven narrative.'