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The post Arbitrum ARB Token Price Pump: Arbitrum DAO Approves Staking Proposal appeared first on Blockonomi.

In a decisive community vote, Arbitrum's members have paved the way for a staking yield proposal financed from the platform's treasury. Over two-thirds of the DAO's participants threw their support behind the initiative, which will see 100 million ARB tokens—1% of the total supply—allocated as staking rewards.

The Arbitrum community has supported a proposal to make a staking mechanism for ARB tokens.

The decentralized autonomous organization of Arbitrum has granted approval to a governance proposal that allows holders of the ARB token to engage in staking their assets, thereby earning a yield paid out in the form of tokens. The funding for these rewards will be drawn from the Arbitrum treasury and will be disbursed over a 12-month period through the utilization of a smart contract.

Arbitrum DAO has approved a governance proposal that will enable holders of ARB tokens to stake their holdings in exchange for a yield.

Arbitrum has recently crossed a key resistance level for the first time after August 2023. ARB's price also increases by 2% in the last 24 hours.

MultiversX, Solana and Arbitrum among top movers this week, with respective surges of 69.4%, 28.9% and 19.1%.

In a significant development that's set to shake up the cryptocurrency world, the highly respected angel investor known as McKenna has unveiled groundbreaking news regarding the latest ARB staking proposal. This revelation has sent shockwaves throughout the crypto community, as it opens up the possibility of allocating a substantial 175 million ARB tokens from the Arbitrum Treasury to the project's staking platform.

Watch for potential upswings in Binance Coin (BNB), Solana (SOL), and Arbitrum (ARB) next week as they hit resistance levels.

Story Highlights ARB price today is . Arbitrum Price may reach a maximum of $2.57 by the end of 2023. With a potential surge, ARB price may go as high as $11.59 by the end of 2030. Launched in August 2021, with its initial seed funding round in January 2021, where it raised $3.

Whales persist on ARB purchases despite enduring losses. Here's a look into the state of Arbitrum.

Blockchain sleuth, which tracks on-chain data of “Smart Money” wallets, @lookonchain, has reported that an unknown wallet spent $1.11 million on acquiring almost one billion PEPE meme coins over the past two days.

Optimism and Arbitrum dominated the layer-2 scaling space in 2023. They attracted $631 million and $1.67 billion in net deposits, respectively.

The Arbitrum DAO is voting on a proposal that would enable ARB token staking, offering a yield financed by the DAO's treasury.

Arbitrum (ARB) price reached $0.95 on Wednesday, bringing its gains over the last 10 days to 25%. On-chain analysis pinpoints key indicators that could propel ARB price past the $1 in the days ahead.

Stablecoin issuers flock to Arbitrum as Token Terminal's report reveals a surge in activity. The L2 landscape evolves, but user numbers remain steady.

The competition in layer 2 sector intensifies as multiple protocols compete for dominance in the market. However, Arbitrum showcases massive growth amidst difficulties while Starknet reveals a trump card.

A widely followed analyst and trader is laying out what he thinks is in store for a trio of altcoins including Solana (SOL) and Chainlink (LINK).

Developers can customize their stacks and plug into different data providers while accessing Arbitrum tooling

Orbit is a program for developers to spin up their own layer-3 blockchains atop Arbitrum, which in turn is the largest layer-2 network atop the Ethereum blockchain.

Offchain Labs, the company behind the Layer 2 scalability solution, Arbitrum, has officially launched Arbitrum Orbit, a highly anticipated custom blockchain solution that is ready for deployment on the Ethereum mainnet.

The Arbitrum project has made waves in the crypto market lately, with the project emerging as the layer2 protocol with the most liquidity. ARB gained more than 25% within the past week and 10.12% in the last day to hover at $0.9748. Furthermore, the project shared a crucial announcement with its community on October 25.

Arbitrum's price action of the last seven days along with the altcoin's performance on the metric front remained optimistic. Are ARB traders in for a treat?

Arbitrum's pullback could offer buying opportunities if the bullish defense of $0.87 persists.