Arbitrum’s token ARB surpasses Ethereum for transactions on March 23 and there are 1 billion ARB tokens distributed.
- Arbitrum holds a record of 2,728,907 daily transactions, surpassing Ethereum.
- Users must avoid falling into scams and spam accounts.
Arbitrum is a network that allows users to transact with lower fees on Ethereum. After high anticipation, Arbitrum released their token ARB airdrop live on March 23. The Ethereum layer-2 scaling solution is distributed over 1 billion ARB tokens. That causes the market capitalization to be around $1.5 billion.
The anticipation for the ARB token was so high that Arbitrum’s website and blockchain were down ahead of the token’s release, with crypto followers eagerly waiting for their share.
Arbitrum Strikes to Its Highest Value
The ARB’s claim and trading had a record of 2,728,907, surpassing Ethereum for the transactions on March 23. At the same time, the token hit its highest value of $11.80 on its launch day. Since then, the price has stabilized at around $1.23. The current market capitalization puts the coin closer to its competitor's Optimism.
The ARB token is not only for the individual user, it will also be distributed to the decentralized apps that have been successful in the ecosystem. Popular DeFi marketplaces and protocols like Opensea, Uniswap, and Aave have moved to Arbitrum in recent months. It takes advantage of its similarity to the Ethereum blockchain.
Moreover, all investors and the team tokens were subjected to four-year lockups, with the first unlock happening in one year. And there are monthly unlocks for the remaining three years.
Arbitrum’s potential as a scalar solution for Ethereum is incredible, and the ARB tokens are adding more significant strikes to the crypto market. However, users must be more cautious because there are lots of spam accounts in the name of Arbitrum on Twitter. The users must avoid falling into scams in the excitement of blockchain growth.