First of all, there was a misjudgment here a few days ago. The market liquidity did not have a profit-making effect due to the ARB airdrop, but instead caused the market to lose blood (shrinking liquidity). It is similar to the situation at the end of February and early March. At that time, ETH was trading around 1550 for a long time, and then plummeted to around 1250 due to the crisis as the banking crisis recovered. Will it be the same script this time?

If not, what event will stimulate the money back?

1. For ARB, if the bleeding market continues, when Vol drops to 200Mln or even less than 100Mln, it may be a good opportunity.

2. The money on the sidelines in the market has increased, but the wild dealers have not taken any action. For other non-ARB copycats, an opportunity is needed, either another round of sharp declines or an event to stimulate the market.