Arbitrum One recorded more than $79.60 billion in decentralized perpetual futures (perps) trading volume over the last month, making it the second‑largest chain for such activity after Hyperliquid, which posted about $215 billion.
Despite the strong on‑chain activity, the ARB token traded around $0.16, down more than 3 % in the previous 24 hours. The token’s price has been retracing a bullish move that began in mid‑August and is currently hovering near the 0.50–0.618 Fibonacci retracement zone and a fair‑value gap around $0.14.
Technical indicators show mixed signals: the RSI divergence remains bearish, while the MACD histogram’s red bars are fading, suggesting weakening downward momentum. Support levels are identified near $0.14 and $0.11, with a potential upside target of $0.25 if buying pressure resumes.
One factor cited for the price weakness is the daily release of over 478,000 ARB tokens, which adds consistent selling pressure. Additionally, a major unlock of 93.14 million ARB is scheduled for November 16, representing roughly 0.93 % of the token’s maximum supply and valued at about $15 million at current prices.
Arbitrum One also led stablecoin transfer growth over the past week, moving $5.10 billion, ahead of chains such as Polygon, Hyperliquid, Robinhood Chain, and XRP Ledger.
In summary, while Arbitrum One’s chain activity and perp trading volume remain robust, the ARB token’s price recovery is constrained by ongoing token unlocks and a pending large release.
