$ARB, token of popular $LAYER$ 2 scaling solution $ARBITRUM$, is up by 8% in the past 24 hours, & currently trading at $1.24121, with inflow of $31.33M, as per Gate.io trading chart.

The rise comes at a time when prominent crypto investors are substantially increasing their holdings. Andrew Kang recently bought a sum of 723,311 ARB, comparable to $867K, at an average price of $1.2 per token.This demonstrates renewed enthusiasm toward Arbitrum's Layer 2 solution, despite recent market challenges.