Franklin

Arbitrum

2024

Rise

In the past 4 days, the Arbitrum (ARB) price has advanced more than 30% with the latest Franklin Templeton move. It is the 42nd biggest crypto globally, and more growth seems likely. 
When writing, Arbitrum (ARB) traded at $0.5734, with a 24-hour trading volume of $305.02 million and a market cap of $1.91 billion. The ARB price has risen by 6% over the past 24 hours. 
<h2 class="wp-block-heading" id="h-what-will-franklin-templeton-s-fund-do-on-arbitrum-arb">What Will Franklin Templeton’s Fund Do on Arbitrum (ARB)?</h2> 
According to a post on X by Arbitrum’s official handle, Franklin Templeton has brought its blockchain-based OnChain U.S. Government Money Fund (FOBXX) into the Arbitrum ecosystem. It hinted at an increased interest in tokenized real-world asset (RWA) investments.&nbsp; 
Franklin Templeton’s latest collaboration with <a href="https://www.thecoinrepublic.com/price-prediction/arbitrum/">Arbitrum </a>has been poised to utilize Arbitrum’s efficiency and advanced scalability. This collaboration emphasizes its visionary goal to offer new and innovative investment options. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Franklin Templeton’s <a href="https://twitter.com/FTI_DA?ref_src=twsrc%5Etfw">@FTI_DA</a> OnChain U.S. Government Money Fund is now available on Arbitrum! We’re excited to have access to the BENJI platform and see a major financial institution, Franklin Templeton, build on Arbitrum!<a href="https://t.co/CRWCFyz3NM">https://t.co/CRWCFyz3NM</a> <a href="https://t.co/yrlwflYOow">pic.twitter.com/yrlwflYOow</a>— Arbitrum (
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f499.png" alt="💙" class="wp-smiley" style="height: 1em; max-height: 1em;">,
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9e1.png" alt="🧡" class="wp-smiley" style="height: 1em; max-height: 1em;">) (@arbitrum) <a href="https://twitter.com/arbitrum/status/1821539383268323662?ref_src=twsrc%5Etfw">August 8, 2024</a>
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Moreover, the Benji Investments platform shared access to ARB, which supports transactions in digital wallets, merging conventional and digital investment strategies. Meanwhile, it also provides investors access via the blockchain-powered platform to view U.S. government securities.&nbsp; 
Integrating the FOBXX into Arbitrum is a crucial strategy to broaden the fund’s accessibility for investors, especially the retail crowd. The visionary objective was to meet the needs of consumers and clients by offering innovative solutions. 
<h2 class="wp-block-heading" id="h-what-does-this-move-of-the-giant-mean-for-the-future-of-investing-and-arbitrum">What Does This Move of The GIANT Mean for the Future of Investing and Arbitrum?</h2> 
Integrating Franklin Templeton’s FOBXX fund into the ecosystem of Arbitrum signified a noteworthy shift in the investment domain. The Arbitrum token’s current price of $0.5729 and its 6% surge over the intraday reflects renewed interest and volatility.&nbsp; 
Despite the recent uptick, the Arbitrum price remained significantly below its YTD all-time high of $2.40. That highlighted the overall ongoing challenges of reclaiming lost territories. 
This collaboration enhances the appeal of Arbitrum, and it may experience increased adoption and market activity with a prominent investment fund like Franklin Templeton. It could attract more institutional and retail investors. 
Looking ahead, this integration could indicate a positive shift for Arbitrum’s future by attracting more high-profile partnerships. In doing so, it may see a bounceback in its price and market dominance.&nbsp; 
<h2 class="wp-block-heading" id="h-what-does-the-on-chain-data-signify">What Does the On-Chain Data Signify?</h2> 
Despite the recent surge, the investor’s position has not improved yet. As per the on-chain research website, the holder’s money data from the purchased price to the current price reflects tremendous losses by the investors. 
Precisely, 97.31% of the addresses were bearing losses at press time. That made the total number of addresses in loss 1.2 million. Meanwhile, about 1.03% of investors were in green, making it 12.65K addresses only. 
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 <img loading="lazy" decoding="async" width="1024" height="386" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-99-1024x386.png" alt="Financial Data | IXFI" class="wp-image-658016" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-99-1024x386.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-99-300x113.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-99-768x289.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-99-150x57.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-99-696x262.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-99-1068x403.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-99.png 1308w" sizes="(max-width: 1024px) 100vw, 1024px">
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 Financial Data | IXFI
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Moreover, the investor’s portfolio returns apart, the number of transactions has surged to 147.01K tx, and volume has reached 415.31 Million ARBs. 
<h2 class="wp-block-heading" id="h-what-does-the-arbitrum-price-action-signify">What Does the Arbitrum Price Action Signify?</h2> 
The ARB price signified a bullish spike in the last couple of days after a prolonged plummeting of gains from the second quarter of 2024. 
After the fall, the price formed support at $0.4243 but showed bearishness and a lack of strength. The long decline stopped with the coinciding news of Franklin Templeton. That gave its investors hope to stay invested without exiting their positions in the loss.  
<a href="https://in.tradingview.com/chart/ARBUSD/MurCeguE-What-Does-Arbitrum-ARB-Price-Signified/"></a><a href="https://in.tradingview.com/u/Sam_TCR/"></a><a href="https://in.tradingview.com/"></a>  
The price could surge if the manifested gains in ARB compound at the time of writing. However, sustenance above $0.8859 happens to be a compulsion. Thus, the resistance levels are at the $0.859 and $1.5475 levels, respectively.&nbsp; 
The post <a href="https://www.thecoinrepublic.com/2024/08/11/30-rise-in-arbitrum-price-after-franklin-templeton-support-whats-next/">30% Rise in Arbitrum Price After Franklin Templeton Support, What’s Next?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

30% Rise in Arbitrum Price After Franklin Templeton Support, What’s Next?

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