Mar 20, 2023 at 07:15Contents
The airdrop of the new token Arbitrum (ARB) will take place in a few days, but even the announcement of the event, which happened on March 16, was enough for the asset to begin to crawl upwards. Thus, during the last day, ARB grew by 131,76% — from $0.001269 to $0.002941. We’ll tell you more about the project and how not to miss the next boost.
What is Arbitrum?
Arbitrum is one of the most popular Layer-2 (L2) solutions for Ethereum. In simple words, Layer-2 projects solve the problem of low cryptocurrency network bandwidth, which Ethereum faced due to the growing popularity of DeFi.
The increase in bandwidth is achieved by transferring some of the tasks to blockchains built on top of the main blockchain. Such chains are called sidechains.
In addition to increasing transaction speed, Layer-2 solutions make them cheaper on the Ethereum network. And one of these solutions was the Arbitrum project.
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The answer to why it has become one of the most popular, according to market participants, is that it combines a simple interface with demand from farmers — investors whose funds are placed in the liquidity pool through DeFi to receive a reward, such as interest on frozen savings.
The project was launched in August 2021 by Offchain Labs, and such famous venture funds as Lightspeed Venture Partners, Coinbase Ventures, Panthera, Compound, Blocknation, and others acted as investors in the project. Whether it is worth buying tokens of projects with money from big investors, you can read here.
And three blockchain experts co-founded it:
Arbitrum Network has two different mainnets and one testnet, unlike other blockchains that will have a single mainnet. Arbitrum One is the first mainnet, while Nova is the second.
Arbitrum airdrop: what’s known?
As it became known on March 16, the distribution of tokens by the ARB is scheduled for March 23. The token distribution is expected to mark the end of Arbitrum’s migration to a DAO (decentralized autonomous organization). This suggests that ARB holders will be able to influence the future of the project by voting on key decisions, from how network technology is improved to how revenue from the network will be used to support the product ecosystem.
Information about the number of tokens available varies. For example, according to projects’ self-reported data on CoinMarketCap, the maximum number of tokens is 555M, and as of this writing, only 9% of them, or 50M, are allegedly circulating in the market.
If TokenUnlocks is to be believed, the total number of ARB coins is 10B and 55,53% or 5,553,000,000 tokens, will be unlocked on March 23. Here’s how the coins are currently allocated.
- Arbitrum DAO Treasury — 4,278,000,000.
- Team, future team + advisors : 2,694,000,000.
- Investors : 1,753,000,000.
- Individual wallets : 1,162,000,000.
- DAOs in Arbitrum ecosystem : 113,000,000.
According to CryptoPotato, funds from investors and teams will be blocked for four years. The first unlocking will take place after one year, after which tokens will be unlocked every month.
It’s also worth noting that most of the users have claimed the right to receive tokens. However, this is not entirely direct. For this purpose, the project team developed a special points system, which determines who gets how many coins. To begin with, each of the candidates must have at least three points, but no more than 15.
To get points, you need to perform certain actions. For example, transfer your savings to Arbitrum One or make a transaction. Here are all the possible actions to gain the necessary points.
Points earned on Arbitrum One:
- Bridged fund into Arbitrum One.
- Conducted transactions during two distinct months.
- Conducted transactions during six distinct months.
- Conducted transactions during nine distinct months.
- Conducted more than four transactions or interacted with more than four different smart contracts.
- Conducted more than ten transactions or interacted with more than ten different smart contracts.
- Conducted more than 25 transactions or interacted with more than 25 different smart contracts.
- Conducted more than 100 transactions or interacted with more than 100 different smart contracts.
- Conducted transactions exceeding in the aggregate $10K in value.
- Conducted transactions exceeding in the aggregate $50K in value.
- Conducted transactions exceeding in the aggregate $250K in value.
- Deposited more than $10K of liquidity into Arbitrum.
- Deposited more than $50K of liquidity into Arbitrum.
- Deposited more than $250K of liquidity into Arbitrum.
Points earned on Arbitrum Nova:
- Bridged to Arbitrum Nova.
- Conducted more than three transactions.
- Conducted more than five transactions.
- Conducted more than ten transactions.
In addition, there are some limits on the ownership of assets. So, one address can’t get more than 10,200 ARB. Users will be awarded points for each action, and their number will ultimately determine how many coins they get.
However, according to unconfirmed information Web3 builder Brainsy, only 20K wallets earned more than $5,500, which is almost half the allowed limit.
Only 20k wallets earned more than 5500 $ARB pic.twitter.com/RNPJA1CkoY
— Brainsy (,) (@BrainsyEth) March 18, 2023
ARB current price
According to CoinMarketCap, at the time of writing, the token is trading at $0.00315, which is 71,39% higher than the day before. During the day, the asset reached its maximum value of $0.004013, which is 70,22% different from its minimum value of $0.001195.
The biggest leap was made on March 16, when the announcement of the upcoming giveaway took place. ARB jumped from $0.0004357 to $0.004621, i.e., by 90,57%. Thus, if you had bought before the spurt, you would have made x10,6 of the invested amount at the peak.
As for the trading volume, according to CoinMarketCap, this index for the day grew to $552.109, which is +446,675%. However, the token is still traded only on two exchanges — on Raydium in pairs with USDC, SOL, and RAY, as well as on Orca in pairs with USDC. However, don’t be in a hurry. If you do not trust these exchanges, in the near future, namely on March 23, ARB will appear on even more platforms.
And even Binance! Where will the ARB be listed in the near future?
A listing on a cryptocurrency exchange usually has a positive effect on the value of a token. Therefore, the news of upcoming ARB listings on different platforms at the same time may indicate that the asset will grow significantly.
Of the already announced platforms that will start trading the token on March 23, for example, there are such well-known exchanges as MEXC Global.
#MEXC new listings alert!
MEXC will list @arbitrum in the Innovation Zone and open trading for the $ARB/USDT trading pair.
Deposit: Opened
ARB/USDT Trading: 2023-03-23 (Exact time to be confirmed)Details: https://t.co/9pjWPPeWqJ#Arbitrum #MEXC pic.twitter.com/RRA1WPHaYk
— MEXC Global (@MEXC_Global) March 17, 2023
One of the oldest crypto exchanges, Poloniex in pair with USDT.
Listing: $ARB
Date: March 23rd, 2022@arbitrum is one of the largest layer-2 blockchains operating on top of Ethereum.
Deposit: https://t.co/A30zhzuX3Y
ARB/USDT: https://t.co/gCIxugbPAaDetails https://t.co/VWDqNR4Mjq#PoloniexListing pic.twitter.com/un8ZDUjxMX
— Poloniex Exchange (@Poloniex) March 20, 2023
On March 17, the Bybit exchange announced the listing of the asset, where tokens can be traded in pairs with USDT and USDC.
#Bybit is excited to announce the upcoming listing of $ARB on our Spot trading platform! @arbitrum
Mar 23, 2023.
Find out more here: https://t.co/WO6PzlrsBt
Join the special giveaway here: https://t.co/ixutTq6h6b#TheCryptoArk #BybitSpot pic.twitter.com/MhXEXk54vO— Bybit (@Bybit_Official) March 17, 2023
On the BitMEX exchange, it is paired with USDT.
A new @arbitrum futures listing is LIVE on BitMEX…
…meaning users can now long/short $ARB $USDT, with up to 20x leverage.
Contract deets:https://t.co/Yh29buOUYh pic.twitter.com/MlPlbsQ9hW
— BitMEX (@BitMEX) March 20, 2023
And the biggest announcement was from Binance, which also decided to add ARB trading to its exchange. The asset will be available for transactions starting March 23.
#Binance is listing @arbitrum $ARB.
https://t.co/6YOugDSXrU pic.twitter.com/jnamYKI71U
— Binance (@binance) March 20, 2023
If we missed any of the platforms that have already announced a listing on their exchange, please write about them in the comments.
How can you predict an ARB airdrop?
Cryptanalyst Deebs DeFi shared a way to determine when the next airdrop is coming. According to him, to do this, you need to follow the actions of the biggest market players, i.e., whales, because they:
- Create massive buying and selling pressure.
- Have insider information: who the founder is, who the key developers are, and so on.
To do this, the specialist suggests using a special dashboard called Whale Watcher. The tool allows you to:
- Find the most active whales
- Track their behavior
- Monitor trends
For example, he used it to notice the actions of one of the whales, who started behaving most actively on March 15, and his first transaction, which indicated he owned an ARB, was on March 12.
“Since this wallet was only created a few days ago, I went to Arbiscan, and I learned it possessed 97% of the ARB and PRPY token supply,” he said.
Such high activity has led Deebs DeFi to believe something big is coming, he said. And then, as we know, the Arbitrum team announced an airdrop on March 17. You can find more about the tool, as well as a link to it, in the thread below. However, don’t use it until you’ve studied it in detail.
Finally, using my dashboard, you can also click on the trends tab to see:
• The growth of Arbitrum TVL
• A side by side comparison of Arbitrum’s TVL with other L2s
• Volume by DEXThe bottom line: Arbitrum is dominating
11/11 pic.twitter.com/nWtMKi9Hlp
— Deebs DeFi (@Deebs_DeFi) March 19, 2023
But even if you are late for Arbitrum’s giveaway, other projects can also offer you a great earning opportunity. The CEO of the DegenScan analytics tool, serp1337.eth, for example, suggests considering the following projects, which will also have giveaways soon.
But, as always, start with in-depth research.
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