The narrative of L2 is rotating. When capital starts digging through forgotten undervalued assets one by one,
$ARB is precisely at this re-pricing point. Before early September, it moved sideways in the 0.08–0.09 range for nearly two weeks, with trading volume only around 30–80 million. After that, volume immediately expanded to 400–700 million, and the price pushed above 0.24. Such a scale of change suggests the capital isn’t just here to pick up bargains—it looks more like it has chosen a sector direction.
In terms of price structure, from September 6th to 7th it first surged to 0.19, then pulled back and tested down at 0.133, before rallying again to 0.24. There was a confirmation via a lower-volume pullback before making new highs—steadier than simply climbing higher in one go. What’s even more worth considering is where
$ARB sits now: it still has nearly 90% room to reach its ATH, and it ranks
#60 by market cap. This doesn’t feel like an asset surrounded by market enthusiasm—instead, it looks like a “missing” catch-up option that capital pulled out from an old L2 narrative.
What gives me reservations is the nature of the capital. If this is only existing capital cycling among different sectors, and if you treat
$ARB as a rotation target, the support above $0.20 could break at any time. Whether this rally can evolve from a move into a trend depends on whether new liquidity is coming in and taking
$ARB as part of an L2 allocation—not just firing one shot and then moving elsewhere.
What clues do you see on the order book: are there incremental inflows, or is the same capital just switching between high and low points?