Arbitrum's Bridge Asset Surge Fuels 28% ARB Price Rally
Arbitrum's native token ARB saw a significant 28% gain in the last day, driven by a net inflow of $1.6 billion in bridge assets across chains. This movement of capital is a positive sign for Arbitrum, indicating that most of the capital settled on the chain.
The netflow data from Artemis shows that Arbitrum led other chains, including Ethereum and Robinhood, in terms of flow over the last day. If this trend continues, it could extend ARB's rally.
In addition to the bridge asset movement, other factors are contributing to the rally. The total value locked (TVL) on Arbitrum has increased by $170 million over the past 13 days, reaching a new level of $1.412 billion. This growth in TVL suggests strong commitment from investors to the chain.
Activity across decentralized exchanges has also seen a pickup, with DEX volume growing by over 151% on August 29th. However, it's worth noting that daily active traders remain below August highs.