Arbitrum Price Prediction: ARB Hits Record High as TVL Surpasses $2.5 Billion and BTC Cloud Mining Token Bitcoin Minetrix Surpasses $7.3 Million in Pre-Sale

Arbitrum price rose more than 6% in the last 24 hours to trade at $1.89 at 7:55 am EST.

A new all-time high for the Arbitrum price

ARB was close to reaching the $2 mark and over the last day was able to record a new all-time high of $1.99, according to CoinGecko. data.

Along with the price increase, the network's total value locked (TVL) also exceeded $2.5 billion. On-chain volumes for Arbitrum-based applications have also exceeded $920 million.

As a result, the data DefiLlama indicates that the collective TVL for Arbitrum-based applications has increased by $1 billion since October 2023.

Arbitrum price drops briefly but manages to recover

Daily chart for ARB/USDT (Source: TradingView)

BRA it temporarily fell below the $1.6740 mark earlier in today's trading session. It has since been able to recover to trade above the significant price again. A positive price channel has also emerged on the altcoin daily chart. This was after Arbitrum price recorded a series of higher highs and higher lows over the past 2 weeks. As a result of the recent recovery, ARB is currently trading near the upper barrier of the ascending channel.

Arbitrum price may soon try to establish a new high if it closes today's candle above $1.6740. This bullish thesis may not come to pass if the cryptocurrency closes today's trading session below $1.6740. In this alternative scenario, the Decision The price may retest the subsequent support level at $1.4215 in the near term.

Technical Indicators Suggest Continued Rise in Arbitrum Price

Traders and investors will want to keep in mind that technical indicators suggest the Decision The price may continue to rise in the next 48 hours. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) support a bullish outlook.

A trend continuation signal is present on the ARB daily chart as the MACD line is separating above the MACD signal line. This suggests that the altcoin's bullish momentum shows no signs of slowing down. Currently, buyers are also stronger than sellers on the ARB chart as the RSI line is positioned above its simple moving average (SMA) line.

If these technical signals are validated, Arbitrum price will most likely try to turn $1.99 into a support level. Until this happens, investors may want to take a look at the runaway pre-selling of bitcoin Minetrixwhich has already exceeded 7.3 million dollars.

Investors Rush to Seize This Passive Income Opportunity

bitcoin Minetrix is an innovative project that seeks to reduce the barrier to entry for anyone who wants to get involved in cloud mining. Before bitcoin Minetrix, mainly large institutions with hundreds of mining rigs could profit from btc mining, leaving smaller mining operations in the dark.

Through its mining staking cloud mining platform, bitcoin Minetrix aims to decentralize the bitcoin cloud mining sector. Anyone who wants to get started can do so by simply purchasing and staking BTCMTX.

Once their tokens are staked, investors will receive “gas” tokens in the form of ERC-20 tokens. These tokens must then be burned to claim a portion of bitcoin Minetrix's cloud mining processing power.

Savvy investors have been scrambling to get their hands on BTCMTX, which is evident from the success of its pre-sale.

bitcoin will become scarcer

Enter the vibrant world of #bitcoin Miningwhich will skyrocket to become a $12 billion industry by 2027.

Through #BitcoinMinetrix, we are transforming accessibility and security in mining, using innovative cloud mining methods and staking for everyone. pic.twitter.com/AFhLqpEfcD

—Bitcoinminetrix (@bitcoinminetrix) January 2, 2024

One possible reason behind the interest in BTCMTX could be the long-awaited approval of a bitcoin spot ETF. Many in the crypto space believe that this possible approval could skyrocket the price of btc.

There is also the upcoming bitcoin halving event taking place in April this year, which will make it more difficult to get new btc. Given these factors, it is no surprise that investors are flocking to bitcoin Minetrix and the passive income opportunity it offers.

BTCMTX can be purchased here.

Related Posts:

New crypto mining platform: bitcoin Minetrix

<img decoding="async" class="inContentProviderSingle–img mb-3" src="data:image/svg+xml,%3Csvg%20xmlns=" http:="" alt="bitcoin Minetrix” width=”125″ height=”60″ data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2024/01/Arbitrum-Price-Prediction-ARB-Hits-Record-High-as-TVL-Surpasses”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-minetrix.svg”/>bitcoin-minetrix.svg” alt=”bitcoin Minetrix” width=”125″ height=”60″/>

• Audited by Coinsult
• Secure and decentralized cloud mining
• Earn free bitcoin daily
• Native Token on Pre-Sale Now – BTCMTX
• Staking Rewards: Over 100% APY

<img decoding="async" class="inContentProviderSingle–img float-right" src="data:image/svg+xml,%3Csvg%20xmlns=" http:="" alt="bitcoin Minetrix” width=”125″ height=”60″ data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2024/01/Arbitrum-Price-Prediction-ARB-Hits-Record-High-as-TVL-Surpasses”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-minetrix.svg”/>bitcoin-minetrix.svg” alt=”bitcoin Minetrix” width=”125″ height=”60″/>