Arbitrum (ARB) Price Shows Relative Strength With Record Whale Accumulation

Arbitrum (ARB) is a cryptocurrency that has been showing relative strength in the market. Despite the broader crypto market's heavy drawdown, ARB has gained 8.5% over the past week, recording the fifth highest price gain. Moreover, over the past 24 hours, ARB has increased by 3.03%, indicating a positive trend.

One of the factors contributing to ARB's positive trend is the record whale accumulation. A "whale" investor has been accumulating ARB tokens, currently holding 2.5 million ARB worth around $2.95 million. This has caused a stir in the market, indicating strong demand for ARB.

The network traction of ARB is also rising, potentially leading to another price rally. The network traction refers to the level of engagement on the Arbitrum network, as measured by the number of transactions and users. As more users and transactions occur on the network, the demand for ARB tokens is likely to increase, leading to a price rally.

Overall, ARB is a cryptocurrency that has been performing well in the market, with a positive trend over the past week and a record whale accumulation. The rising network traction also indicates potential for another price rally in the future.