ArcBlock is a platform and an ecosystem for building and deploying decentralized blockchain applications. The ABT is a utility token for paying the cost associated with using the service. The ABT’s basic utility value is to pay for the cost of using the ArcBlock system. It has a market cap of $65.8 million, a circulating supply of 98.5 million and has traded over $21.3 million in the past 24 hours according to CryptoSlate.com.
ABT/BTC established support yesterday near the mid-April highs and is continuing its move today. The previous high is at 0.00013288 and is a potential target as the price may retest that level before advancing further. A stop could be placed below the midpoint of yesterday’s candle body near 0.00007320.