Title: Whale Selloff Impacts ARB Token and Market
The Decline in ARB Interest
Recently, there has been a noticeable decline in the interest of whales in the ARB network. Despite significant progress in the network over the past year, whale addresses have started to lose faith in ARB, leading to a series of large-scale selloffs.
Whales Move Away
According to Lookonchain, a major whale sold off 14 million ARB tokens valued at $14.84 million, contributing to an overall loss estimated at $6 million. This selloff by a major whale has implications for the overall state of ARB, potentially impacting its value and market sentiment.
State of ARB
The price of ARB has witnessed a fall since November 11th, indicating a slight bearish trend for the token. However, the network growth of ARB has contrasted with its rising price, showing that new addresses have started to lose interest in the token.
Proposed Enhancements for Growth
Arbitrum’s potential growth could be catalyzed by proposed enhancements to the protocol. A recent proposal aims to introduce a gas rebate and trading incentive program to attract a substantial influx of new traders to the Arbitrum ecosystem.
The selloff by a major whale has raised concerns about the stability and attractiveness of ARB within the crypto market. However, proposed enhancements to the protocol hold promise for future growth. It remains to be seen how the market responds to these developments.
### News source: eng.ambcrypto.com