Part 8/11:
Arbitrum, Ethereum's leading Layer 2 scaling solution by Offchain Labs, has about $15 billion in TVL and over $160 million in fees. Back in March 2023, Offchain Labs announced plans for token buybacks but provided few details, leading to skepticism over transparency.
Post-announcement, ARB experienced a significant price decline—about 85% in three months—raising questions about the sincerity and execution of the buyback plan. Currently, ARB faces resistance between $47 and $62, with a potential target of around $1.15 if it breaks higher.
Current Status: No recent updates confirm active buyback programs, but if Offchain Labs proceeds transparently, buybacks could support a bullish turnaround for ARB.