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Positive Ethereum and Arbitrum network developments and the eventual improvement in crypto investor sentiment could lend a boost to ARB price. While Arbitrum’s governance token ARB has been in a consistent downturn since the airdrop in late March, its ecosystem shows healthy growth.  A recent Nansen report shows that Arbitrum’s activity improved after the airdrop, stabilizing “at a level higher” than before the airdrop. The daily active users, gas fees and transaction count maintained consistent higher levels on the Ethereum rollup since April 2023. The gap between the number of active users on Arbitrum and Optimism widened after the Aribtrum airdrop, closing in on Ethereum. Daily Active Users of Arbitrum, Ethereum and Optimism (past 6 months). Source: Nansen The trading volume on Arbitrum-based decentralized exchanges paint a similar picture, showing an evident rise in volume after the airdrop. The trading volume of DEXes on Arbitrum. Source: DeFiLlama Moreover, Nansen’s report sh...

This NFT data analytics platform harnesses the power of decentralization and active user participation to improve the NFT space. In a digital world, companies, organizations and influencers are leveraging the latest technologies and practices to get closer to their communities in a more direct way. Digital tokens and nonfungible tokens (NFTs) bring even more Features to make this happen. Blockchain-based tokens, especially NFTs, can be used to create new experiences to drive community engagement in Web3 and develop a sense of belonging. This can be a game-changer for brand managers, digital artists, influencers and any entity with an online presence. Previously, initial coin offerings (ICOs) were the first choice to build communities around blockchain projects. However, the high prevalence of scams has compromised this fundraising approach. To avoid a similar fate, the NFTs space needs to stay away from scams and price manipulation. With specialized services like bitsCrunch, NFTs ar...