Arbitrum (ARB) continues to lead the Ethereum Layer 2 market in terms of Total Value Locked (TVL) and transaction volume today. The network is bustling with activity from DeFi protocols and gaming applications that benefit from its low fees and Ethereum-grade security. However, the ARB token price is struggling to reflect this fundamental success, largely due to ongoing concerns regarding substantial token unlocks affecting the circulating supply. Investors are weighing the strong ecosystem growth against the inflationary pressure of the tokenomics schedule. Despite the price suppression, the governance surrounding the Arbitrum DAO is active, with proposals being voted on to incentivize further development and liquidity. This long-term bootstrapping strategy is designed to cement Arbitrum's dominance. Technical charts show ARB in a descending channel, looking for a reversal bottom. Value investors argue that the current valuation is disconnected from the network's revenue and user base, presenting a potential opportunity. A shift in sentiment regarding 'low float, high FDV' (Fully Diluted Valuation) tokens is needed for ARB to perform a sustained rally.