隨著拋售壓力的增加，Arbitrum 的漲勢陷入停滯

Is Arbitrum's Rally Running Out of Steam?

Arbitrum 的漲勢是否已經失去動力？

Despite a modest 2.65% gain over the past 24 hours, Arbitrum (ARB) has struggled to sustain its momentum, shedding 2.19% over the week. At the time of writing, ARB was hovering around $1.66, a far cry from its pre-unlock price of $1.9.

儘管 Arbitrum (ARB) 在過去 24 小時內小幅上漲 2.65%，但仍難以維持其勢頭，本週下跌 2.19%。截至撰寫本文時，ARB 徘徊在 1.66 美元左右，與其解鎖前的 1.9 美元價格相差甚遠。

Selling Pressure Mounts: The Whale Exodus

銷售壓力漸增：鯨魚出走

The primary culprit behind ARB's woes appears to be the influx of over a billion tokens into circulation, triggering a wave of profit-taking. Four whale wallets alone were spotted transferring 11.34 million ARB to Binance, worth a staggering $18.82 million. This large-scale movement to exchanges has raised concerns about potential sell-offs.

ARB 陷入困境的罪魁禍首似乎是超過 10 億代幣湧入流通，引發了一波獲利了結浪潮。僅四個鯨魚錢包就被發現向幣安轉移了 1134 萬個 ARB，價值高達 1882 萬美元。這種向交易所的大規模流動引發了人們對潛在拋售的擔憂。

Santiment Data Paints a Grim Picture

情緒數據描繪了一幅嚴峻的畫面

Confirming the bearish sentiment, Santiment's data reveals a sharp drop in wallets holding more than 1,000 ARB coins, indicating selling pressure. Furthermore, large transactions exceeding $100k have remained elevated throughout the week, with most of them being sell orders.

Santiment 的數據顯示，持有超過 1,000 個 ARB 代幣的錢包急劇下降，表明存在拋售壓力，這證實了看跌情緒。此外，超過 10 萬美元的大額交易在本週仍然保持較高水平，其中大部分是賣單。

On-Chain Activity Fizzles Out

鏈上活動失敗

Adding to the bearish narrative, ARB's key on-chain metrics have cooled down significantly. Unique addresses active on the network have plummeted by 25%, and new addresses have followed suit. This decline in network activity suggests waning enthusiasm for the token.

雪上加霜的是，ARB 的關鍵鏈上指標已顯著降溫。網路上活躍的唯一位址驟降了 25%，新位址也隨之下降。網路活動的下降表明對該代幣的熱情正在減弱。

Bearish Bets in the Derivatives Market

衍生性商品市場的看跌押注

Derivatives traders are betting against ARB, with the Longs/Shorts ratio remaining below 1 on Coinglass. This indicates that more traders anticipate further price declines in the days ahead.

衍生性商品交易員正在做空 ARB，Coinglass 的多頭/空頭比率仍低於 1。這表明更多交易者預計未來幾天價格將進一步下跌。

Will ARB Continue to Tumble?

ARB會繼續下跌嗎？

While the future remains uncertain, the combination of selling pressure, whale activity, and bearish sentiment in the derivatives market paints a bleak picture for ARB in the short term. It remains to be seen whether the token can regain its footing or succumb to further declines.

儘管未來仍不確定，但拋售壓力、鯨魚活動和衍生性商品市場的看跌情緒相結合，為 ARB 的短期前景描繪了一幅黯淡的景象。該代幣是否能重新站穩腳跟，還是進一步下跌，還有待觀察。