Bitcoin and other cryptocurrencies are facing significant downturns. Despite Donald Trump’s plans to build a Bitcoin reserve, Bitcoin (BTC) has struggled to make gains, remaining around the $80,000 mark.
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Amid this market turmoil, Offchain Labs, the team behind the Ethereum Layer-2 network Arbitrum, has revealed a new strategy to bolster its position in the ecosystem. The company has disclosed plans to acquire ARB tokens for its treasury through a strategic acquisition process.
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Offchain Labs will gradually purchase ARB tokens over time, utilizing the open market and other mechanisms, but the exact quantity of tokens they intend to acquire has not been disclosed.
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Bitcoin Will Dip to $70K Before Soaring to $250K by 2025 – Arthur Hayes ARB’s value has seen a dramatic decline, dropping 86% from its January 2024 peak of $2.39 and falling 54% year-to-date. Currently, ARB is trading around $0.33, after a 7.6% drop in the last 24 hours. Despite these challenges, Arbitrum remains one of Ethereum’s leading Layer-2 solutions, with over $2.3 billion locked in its ecosystem.
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Alexander Stefanov
