ARB down over 12% – reversing recent price surge as altcoins bleed

According to CryptoSlate data, Arbitrum (ARB) reversed its recent surge and fell by 12.69% in the last 24 hours.

The fall came at a time when Bitcoin (BTC) also fell below the $30,000 mark — pulling many altcoins down with it, including ARB.

Seven days before the time of writing, on April 12, ARB was being traded at around $1.167. The token started to surge after that and reached as high as $1.795 on April 18 — marking over a 53% increase in six days.

The surge was also noticed by whales as well. Data from April 18 revealed that whales have been trading ARB during the week of April 10 – 17.

As of April 18, there are 23 whale accounts that hold over 1 million ARB tokens. During the week, nine whale wallets cumulatively bought 12.4 million ARB tokens between $1.2 and $1.5. In the meantime, three whales sold a total of 22.8 million ARB from $1.37 and $1.69.

However, despite the weekly surge in ARB prices, CryptoSlate data indicates that the token price is 94.18% lower than 30 days ago.

BTC flash crash

On April 19 at 07:00 UTC, BTC broke below $30,000. According to CryptoSlate data, BTC’s performance over the last 24 hours sits at a 2.21% decrease.

On April 14, BTC surged as high as $30,963. At the time of writing, it is being traded for $29,255 — marking a 5.5% decrease.

Meanwhile, among the top 100 altcoins, the most prominent losers in the wreckage of the flash crash were Dash down 4.4%, MultiversX down 4.1%, and CurveDAO down 4%.

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