Crypto Analyst Issues Warning on ‘Polygon Killer’ Aribtrum, Says ARB Will Never Reach $100
A well-liked crypto analyst is warning merchants to be life like in regards to the doable future value of the newly launched token for the Ethereum (ETH) scaling answer Arbitrum (ARB).
In a brand new YouTube video, the nameless host of InvestAnswers pushes again towards the “false hopium” web chatter about the potential of ARB skyrocketing to $100.
“If that had been to occur, Arbitrum would have a full diluted market cap of $1.3 trillion. It’s by no means going to be value that, okay? Simply put issues in perspective. Watch out what you learn and do your numbers on the again of a serviette, don’t simply say, ‘Oh, I can purchase one thing for a greenback and promote it for $100.’ No, it’s not going to occur.”
The InvestAnswers tells his 443,000 subscribers that he’s involved that Arbitrum is closely centralized, closely concentrated within the fingers of whales, and nonetheless has 87.2% of its token circulation left to be unlocked.
Based on the InvestAnswers host, Arbitrum has a completely diluted market cap of over $13 billion, which he notes is already higher than the absolutely diluted market cap of different established large-cap altcoins corresponding to Polygon (MATIC) and Solana (SOL).
Arbitrum simply kicked off its first airdrop final week, distributing 12.75% of its token provide. The asset quickly plunged from buying and selling round $5.04 at launch to round $1.19 just a few hours later.
At time of writing, ARB is buying and selling for $1.16.
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