ARB Rises 13% After Announcing USDS Support – This L2 New ICO Crypto Looks Better
Arbitrum (ARB) has gone up by 13% in the past 24 hours after the layer-two Ethereum scaling solution announced that it will support USDS transactions.
USDS is the official stablecoin of the Sky Ecosystem – formerly known as MakerDAO. The token was rebranded as well last year (it was previously called DAI) and its market cap currently stands at $8 billion.
Investors and decentralized protocols can now easily transfer USDS tokens on Ethereum via Arbitrum and they can send the assets to the mainnet through the protocol’s bridge.
gm @SkyEcosystem https://t.co/K7sMu0q70U
— Arbitrum (@arbitrum) March 4, 2025
, meaning that the demand for its native asset, ARB, will likely increase in the following years.
Trading volume for Arbitrum is up 10% in the past 24 hours and currently accounts for nearly a quarter of the token’s market cap. However, ARB is trading 82.6% below its all-time highs at the moment as competition between layer-two Ethereum scaling protocols is fierce.
Other utility tokens from layer-two solutions like Optimism (OP) and Polygon (POL) are up by 5% each during this same period.
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Top-tier centralized and decentralized exchanges, liquidity protocols, yield-farming applications, and other similar dApps have embraced Arbitrum as their go-to solution to transfer assets to and from the Ethereum network.
and currently stands at around $0.05. Users typically pay from $3 to $5 to transfer assets in the Ethereum L1.
ARB Could Drop Sharply If It Fails to Move Above $0.50
Today’s uptick is still not managing to reverse Arbitrum’s sharp downtrend. The token is trading at its lowest level on record, at least since it was listed on Coinbase.
The market seems to have shunned Ethereum L2 protocols as competing layer-one blockchains have emerged over time to challenge the network’s dominance of the smart contracts space.
The daily chart shows that the price would have to climb above the $0.52 level to make a new higher high and reverse, in theory, the downtrend that started back in December after the market’s post-election tailwind started to fade.
The Relative Strength Index (RSI) has sent volatile signals across the board in the past few days amid last Sunday’s unexpected rally.
Traders should approach ARB with caution as the token is currently standing in uncharted territory amid its latest drop. If the price rejects a move above the $0.52 level or even above Sunday’s high, the odds favor a significant reversal.
ARB’s upside potential is limited at the moment, but a new layer-two Solana scaling solution called Solaxy ($SOLX) is rapidly becoming one of the best crypto presales of the year.
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The launch of Official Trump ($TRUMP) in January evidenced the congestion issues that Solana still faces during peak usage periods.
Investors, decentralized apps, and crypto exchanges experienced delays and transaction errors at this time and this is not the first time that this kind of situation has happened.
Solaxy ($SOLX) fixes this by introducing. The developing team has already been working closely with Hyperlane on the Solana devnet and initial tests on asset transfers via Solaxy were performed successfully.
$SOLX, the project’s native asset, offers the highest upside potential to early buyers who scoop up the token during its presale event. As the protocol’s adoption increases, so will the demand for its utility token.
Moreover,for those willing to lock up their tokens to secure the network.
To buy $SOLX, head to the Solaxy website and connect your wallet. You can either swap ETH, USDT, or SOL, or use a bank card to complete the transaction.
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