Arbitrum's (ARB) on-chain metrics showed signs of a rally on Friday following news that the Arbitrum DAO approved an eight-week M&A pilot proposal on Wednesday.
Arbitrum DAO approved an eight-week pilot M&A program after 99% support for the proposal. Key on-chain metric hints that Arbitrum is still in buy zone despite 7.5% rise. Arbitrum could see a rally soon following an increase in its MVRV. Arbitrum 's on-chain metrics showed signs of a rally on Friday following news that the Arbitrum DAO approved an eight-week M&A pilot proposal on Wednesday.
However, despite the recent gain, data from IntoTheBlock shows that 79.6% of ARB addresses are still out-of-the-money, with only 20.11% -in-the-money and 0.29% at-the-money. A high percentage of in-the-money addresses signifies potential profit-taking from investors, and vice versa for out-of-the-money addresses. Global In/Out of the Money As a result, ARB investors are likely to hold onto their assets in anticipation of a tangible price appreciation that would see them being in the money.
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