Arbitrum's price looks like it wants to retest its record high of $1.60.
Here are three reasons why ARB could continue its bull run in Q2 to retest its record high of $1.60.Arbitrum generated $2.5 million in profits in March 2023 via sequencing, according to Messari.Notably, sequencer profits represent the difference in fee revenue generated by the L2 chain and the fee expense paid to the base L1 chain — all calculated in Ethereum's Ether token, not ARB.
However, ArbitrumDAO may end up monetarizing MEV by auctioning off rights to produce blocks once they launch decentralized sequencing,Kunal Goel, a researcher at Messari. This would open up opportunities for ARB as a staking token. For instance, in 2022, Arbitrum generated $22 million in sequencer revenue and $6 million in profits. Meanwhile, Optimism made $18 million and $4 million in sequencer revenue and profits, respectively.
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