ARB (Arbitrum) rose 16.90% in the last 24 hours.

Gate News Bot news, on August 14, according to CoinMarketCap, as of the time of writing, ARB (Arbitrum) is currently priced at 0.55 USD, with a rise of 16.90% in the last 24 hours, reaching a high of 0.58 USD and a low of 0.39 USD. The trading volume in the last 24 hours is 1.374 billion USD. The current market capitalization is approximately 2.851 billion USD, an increase of 412 million USD compared to yesterday.

Arbitrum is a powerful Layer 2 scaling solution designed to make blockchain technology more inclusive and sustainable while maintaining security. It can confirm transactions quickly and at low cost, making it ideal for high volume applications. As a decentralized rollup, Arbitrum inherits the security of Ethereum and is compatible with all existing Ethereum tools and applications.

Important news about ARB recently:

1️⃣ GMX completes V1 vulnerability compensation program GMX has successfully completed a compensation plan for the V1 vulnerability impact, with approximately $44 million to be distributed to affected Arbitrum GLP liquidity providers. Users can apply for compensation through the GMX dApp and receive GLV tokens. This move helps restore user confidence and may drive an increase in DeFi activities on the Arbitrum network.

2️⃣ Lending Protocol Morpho Expands to Arbitrum The well-known lending protocol Morpho has officially announced its launch on the Arbitrum network. This move will bring more liquidity and DeFi application scenarios to the Arbitrum ecosystem, expected to attract more users and funds into the Arbitrum network.

3️⃣ Large unlocking of ARB tokens is approaching This week, ARB will undergo a one-time token unlock, with an unlock amount of approximately $38.63 million, accounting for 1.80% of the circulating supply. Although the unlock may bring short-term selling pressure, it also reflects a new stage in the project's development and may trigger a reassessment of the market regarding ARB's future growth.

From a technical perspective, the ARB price has broken through multiple moving average resistances, showing a strong pump trend. On the fundamental side, the Arbitrum ecosystem continues to expand, with new projects joining and existing projects upgrading, bringing new growth momentum to the network. However, the upcoming token unlock may exert some pressure on short-term prices, and investors need to closely monitor market reactions.

This message is not intended as investment advice; investors should be aware of market volatility risks.