Coin Edition -
- Liquidity on the Arbitrum ecosystem has increased since the STIP grant to several projects.
- ARB may reach $1.20 if the RSI reading crosses 65.00.
- The MACD indicated that ARB may retrace, so traders may need to refrain from long positions.
The price of Arbitrum (ARB) in the last seven days has grown by 15.56%, according to data from price tracking platform CoinMarketCap. While the growth may be connected to the rising tide of altcoin prices of late, there are also some underlying factors that have kept ARB on the upside.
For one crypto researcher known as Emperor Osmo, ARB’s increase was connected to Arbitrum’s Short-Term Incentive Program (STIP). In October, Arbitrum announced that it was giving a number of project short-term grants.
STIP Pushes the Recovery
After a period of screening, applicant projects including GMX, Gains Network (GNS), and 27 others won a share of the program’s funding. According to Osmo, the program has been vital to the jump in liquidity in the Arbitrum ecosystem.
I see recoveries from the lows all around @arbitrumNot fading the ability of $ARB STIP to drive liquidity growth in a still illiquid market.I added more to $GRAIL, $GMX, $HMX, and $PENDLE, RDNT. pic.twitter.com/4fdv6mnLRB— Emperor Osmo