The NANDification of Layer 2: Why a 15% TVL Drop in Arbitrum Mirrors the Semiconductor Cycle
On July 14, 2025, Arbitrum’s total value locked (TVL) shed 15% in a single...
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Extreme Fear
Market Sentiment
Circulating supply increases by about 2%
92 million ARB released
Block reward reduced to 3.125 BTC
Raises validator limit and account abstraction
Improves data availability sampling efficiency
Team and early investor shares released
Block reward halving event
Independent validator client goes live on mainnet
Bitcoin Season
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