ARB Hits Four-Week Low as Losses Outpace Bitcoin and Ether

The divergence between Arbitrum's rising active-address count and ARB's underperformance against bitcoin and ether points to a market that is rewarding usage less than it is punishing token exposure. The synchronized drawdown across ARB, OP and POL suggests this is a sector-wide rotation out of Layer 2 governance assets rather than a verdict on any single chain's fundamentals. Whether activity metrics keep improving while token prices lag is the open question, since that gap is where the market's read on L2 value accrual will ultimately be tested.