Arbitrum (ARB) token is having a good day, gaining more than 10% in 24 hours as activity continues to grow in the asset market.
ARB Bank, which was trading at $1.49 as of press time, posted a 12% increase in valuation over the 24-hour period. The asset trading volume increased by more than 140% over the same period. The asset’s market cap has also increased by 11% as of press time.
ARB was the number one traded coin on CoinMarketCap today ahead of Ethereum despite its massive gains today, with the token notching a significant 24% increase in valuation for the week.
Arbitrum announces a new development
In the midst of a stellar market day, the Arbitrum token network has announced a new partnership on the network. Arbitrum, a popular Ethereum Layer 2 scaling solution, has announced a new development that allows users to track NFTs in real time on its network, which may be attributed to its native token hike.
This development is made possible by Alchemy, a blockchain infrastructure platform that provides tools and services to developers creating decentralized applications.
With this new feature, users can get real-time updates whenever an NFT is transferred between addresses on Arbitrum. This means that collectors and dealers can keep a close eye on NFTs and ensure that their assets are always safe.
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Being able to track NFT activity in real time is essential in the rapidly growing NFT market, as the value of these digital assets can change rapidly.
The announcement was also met with excitement from the blockchain community and network, with many users applauding the integration of Alchemy’s infrastructure into the Arbitrum network. This development is expected to improve the overall user experience on Arbitrum, making it easier for users to manage NFTs and engage in transactions.
The addition of real-time NFT tracking on Arbitrum is a significant step forward for the network and the broader blockchain ecosystem. It highlights the continuous growth and development of the NFT market and the importance of a secure and reliable infrastructure for the digital asset space.