Anticipation Grows Around Arbitrum’s ARB Token Launch – Market Value Could Shift Significantly

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The Ethereum layer two scaling solution Arbitrum is just a few days away from launching its native token, ARB. Since its announcement, IOU markets have gone live and are giving an early indication of the token’s potential worth. Claiming of ARB tokens is to begin on the 23rd of March, and when it hits exchanges its value could move significantly.

ARB Trading Markets Appear, But Real Value May Differ Significantly When Coins are Released

The launch of a new digital asset is set to enter the cryptocurrency market – with the layer two scaling solution Arbitrum announcing the launch of its governance token last week. Following the announcement, several centralized exchanges have already established IOU markets, giving users an early indication of the potential value of ARB.

ARB claiming is scheduled to begin on the 23rd of March, and there is a great deal of anticipation surrounding the airdrop. Data from the cryptocurrency market price aggregation website coinmarketcap.com (CMC) indicates the ARB IOU token reached an all-time high of $14.02 per unit on March 19th.

Since then, the IOU token has dropped 51.43% from its peak three days ago. ARB IOU tokens also recorded an all-time low of $2.81 per unit, with current prices sitting 140% higher at $6.88 per coin. Over the past 24 hours, ARB’s IOU markets have traded for between $5.41 and $7.92, and have seen global trading volume of $8.7 million. At press time, ARB markets were down 8% against the US dollar, just 15 hours before the token claiming begins.

The cryptocurrency analytics platform Dune Analytics has several ARB airdrop tracking tools ready to go live when claims begin. These tools will feature counters highlighting the total ARB claimed, the number of unique holders, and other allocation data.

The current IOU value of the ARB token is higher than Optimism’s native governance token, OP. The current value of OP is around $2.53 per unit, and there is a circulating supply of 314,844,141 OP. When real ARB tokens start trading, the market value could shift significantly, as indicated by the IOU token’s all-time high and low.

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Airdrop, Airdrop coins, Airdrop Tokens, anti-Sybil, arb, ARB airdrop, Arbitrum, Arbitrum airdrop, Blockchain, Cryptocurrency, DAO, decentralized autonomous organization, Developer, Distribution, Ecosystem, Ethereum, governance token, inflation, Investors, IOU, IOU Markets, L2, launch, Layer 3, lockups, Markets, native, Offchain Labs, OP, Optimism, Orbit, permissionless, platform, Price, Prices, Scaling Solution, self-executing, technology, Token Airdrop, trading, U.S. dollar, users, Voting

What are your thoughts on the impending ARB token release and its potential impact on the crypto market? Let us know in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




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