Recent whale purchases on Arbitrum (ARB) suggest a growing confidence in the token's long-term performance, potentially threatening Polygon's (MATIC) dominance. Despite ARB's worse Year-to-Date (YTD) loss of 40.86% compared to MATIC's 29.23%, consistent accumulation on the ARB side may change the tide.

Network growth metrics reveal a significant preference for ARB among market participants, with 1526 new addresses transacting on the network compared to Polygon's 225. This disparity indicates a potential increase in ARB's price, which has already surpassed the critical $1 level. However, reaching its all-time high of $2.39 in March won't be easy, and ARB still needs to exceed $3.50 to match Polygon's market cap of $7.12 billion.

ARB's market cap currently stands at $2.72 billion, and for it to triple, MATIC would need to stay below $1. The recent whale purchase of 4.17 million ARB on May 17, worth $6.15 million since July 2023, signals a long-term confidence in ARB's performance. This accumulation trend may continue, potentially leaving Polygon behind. As the growth of both cryptocurrencies holds significant answers, the market will closely watch ARB's next moves.