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ARB Trading Volume Tops $388M Within the First Hour of the Arbitrum (ARB) Airdrop

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Following an airdrop of 1.1 billion ARB to 625,000 wallets, the price of the ARB governance token from Arbitrum reached a high of $11.6446 on the cryptocurrency market KuCoin.

ARB has seen $388 million in spot trading volume over the past 24 hours. It may be found on Bybit and Bitget in addition to KuCoin.

Use of Arbitrum Rollup Increased Prior to ARB Airdrop

At the time of publication, the cost of ARB was about $1.3100. The majority of March 23, 2023, is anticipated to be turbulent.



On March 22, 2023, transaction volume on Arbitrum reached a new high of $1,312,052 in anticipation of the upgrade.

The Dune Analytics Dashboard from Henrystats shows that Arbitrum added about 500,000 new members in only two weeks, bringing its total user base to more than three million.



The Arbitrum Foundation said earlier this month that it will give away 10 billion ARB tokens to customers that transferred money to Arbitrum One or Nova or took part in transactions that met or exceeded predetermined benchmarks on each network.

On Ethereum, the One and Nova networks of Arbitrum are optimistic rollups that combine and compress transactions from a sequencer before publishing the information as call data on the main chain. Rollups with an optimistic outlook presumptively consider all transactions to be accurate. Challengers have the ability to contest the legitimacy of transactions using fraud evidence.

As the layer-two solution moves toward more decentralization, holders of ARB tokens can upgrade Arbitrum’s Nova and One network. Former White House CTO Ed Felten and two Princeton graduate students established Arbitrum.

Investors, DAOs on Arbitrum, the DAO treasury on Arbitrum, current and upcoming team members, and individual wallets are among the recipients.

Significant Airdrops in 2023

Airdrops are used by cryptocurrency projects like Arbitrum to generate interest and encourage people to participate in the network.

Starting on March 5, 2023, users that provide liquidity to PancakeSwap V3, a decentralized exchange on the BNB Chain, began receiving $135,000 worth of the CAKE token. On PancakeSwap, among other places, CAKE may be staked in order to receive prizes.

Space ID, a platform for creating, managing, and exchanging Web 3 identities, is also available on BNB Chain. By 2 p.m. UTC on March 10, 2023, the project airdropped 47,600,00 ID tokens to early users who have a.bnb or.arb domain.

On April 2, 2023, customers who claim Galxe NFTs will get an airdrop of $45,000 worth of RBC, BOBA, and SIS tokens from the cross-chain technology aggregator Rubic.

Users must like and retweet the airdrop notification, follow Boba, Rubic, and Symbiosis on Twitter, follow the Rubic x Symbiosis x Boba NFT page, and perform cross-chain swaps worth $10 to Boba ETH.