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Arbitrum (ARB) hit a new all-time high of $1.83, as the Layer 2 scaling solution for the Ethereum blockchain continued its bullish trajectory.
With Arbitrum gathering huge interest due to its fast smart contract transactions while reducing transaction costs, this has translated to important gains for its native coin, ARB.
On-chain trading data from Coinmarketcap showed that ARB recorded a 102% increase in its daily trading volume and a 12% increase in its total marketcap over the past 24 hours. This signaled massive interest in ARB with bulls poised to profit.