Attention: Optimism despite the unstable global market permeates this post.

Arbitrum is the technology that enables the scaling of Ethereum, the largest platform for smart contracts and decentralized applications. Arbitrum uses a technique called “rollup” which allows multiple transactions to be grouped into one which is then sent to the Ethereum mainnet. This results in higher speed, lower cost and better usability of Ethereum.

Arbitrum has its own parent token called ARB which is used for network management and security. ARB was launched in March 2023 and has since experienced significant value growth, peaking at $2.39 per token on January 12, 2024. However, after that rally, ARB entered a consolidation phase, losing over 20% of its value and currently trading around $1.88 as of today January 19, 2024

Despite this decline, ARB is still bullish.

A few positive momentum such as an increase in trading volume signal a promising trajectory for Arbitrum in the early stages of the year and below you can see some very important indicators overall based on the excellent BING from Microsoft

Bing issues an optimistic forecast for the Arbitrum price, based on several factors that point to upside potential. These factors include:

• Strong support and strengthening of the community and partners. Arbitrum has more than 700 active markets and more than 100 integrated projects, including leading DeFi protocols such as Uniswap, GMX, Radiant, Aave, Curve and MakerDAO. Also, Arbitrum has attracted the attention of prominent investors such as Lightspeed Venture Partners, Polychain Capital, Pantera Capital and Mark Cuban, who participated in the financing of 120 million dollars in 2021.

• Innovative technology and roadmap. Arbitrum uses the most advanced Ethereum scaling technology, called Nitro, which consists of two variants: Arbitrum Rollup and Arbitrum AnyTrust. Nitro enables higher bandwidth, lower transaction costs and compatibility with Ethereum, while maintaining a high level of security. In addition, Arbitrum has an ambitious development plan for 2024, which includes: Already launched its own layer three solution called Orbit; allowing developers to deploy programs written in popular programming languages ​​such as Rust, C++ and others using Stylus; expanding its pool of validators to include more independent institutional validators; moving your protocol to layer two with Arbitrum One or Nova.

• Favorable market situation and demand. Arbitrum is in the growing Ethereum scaling market, which is increasingly important due to the mainnet’s bandwidth and cost limitations. According to data, Arbitrum is currently the second largest layer two protocol by total value of locked assets (TVL), with more than $2.64 billion. Arbitrum also has an advantage over its competitors such as Polygon and Optimism, as it offers better security, interoperability and flexibility

Based on the above factors, Bing predicts that the Arbitrum price will continue to rise in 2024, reaching the level of $5 per token by the end of the year. This forecast is in line with the analysis of the highly optimistic expert MirbInvestments, who also optimistically expects the ARB price to reach $5 in 2024. However, this forecast is subject to change depending on market conditions, regulatory risks and technical challenges, and the MirbInvestments team would like to emphasize that the above is not investment advice and is also not the position of the entire MirbInvestments team for possible price movements in 2024 and cannot be considered official by MirbInvestments advice for investments.