With Ethereum (ETH) layer-2 community Arbitrum set to airdrop its tokens to customers subsequent week, group expectations have risen, pushing an IOU model to above $10 on little-known exchanges, HotBit and XT.com.
According to CoinMarketCap data, ARB IOU traded for as excessive as $10.30 on March 17 however has fallen to $9.5 on the time of writing. While the IOU token’s present value won’t mirror the asset’s worth when it launches, it exhibits the extent of curiosity surrounding the token.
The IOU asset value efficiency has drawn a number of group speculations, with many exhibiting extra optimism in regards to the asset.
Jason Choi, an investor with crypto funding fund Tangent, said the ARB IOU token valuation locations it at “a $100B FDV, making it the third most valuable crypto asset.” However, he added that he doesn’t “think Hotbit IOUs are reliable.”
Another crypto dealer Ziv posited that the ARB hype might catapult the asset into the highest 10 crypto property by market cap. Other group members who share the identical view imagine ARB would revenue from the present bull run of the crypto market.
Meanwhile, DeFi researcher Johannes mentioned that NFT marketplace Blur’s IOU token traded at a a lot greater valuation of $32 however dropped to round $0.8 at launch. Several others additionally predicted that the token’s worth would dump at launch.
Top Exchanges Announce ARB Listing
Top crypto exchanges like Huobi, MEXC, Bitrue, and ByBit have committed to itemizing the layer2 scaling answer token on March 23.
ByBit revealed a buying and selling pair of the token with the 2 prime stablecoins, USDT and USDC. The change additionally urged customers to stake ARB tokens with its platform to earn extra rewards.
Meanwhile, Huobi mentioned it could begin processing withdrawals for the token from March 17 and supply a buying and selling pair in USDD and USDT. MEXC Global revealed that ARB could be listed in its Innovation Zone
Nansens Says Over 600,000 Addresses Eligible For ARB Airdrop
Blockchain analytical agency Nansen said 625,143 addresses are eligible for the ARB token airdrop. The agency added that the median airdrop measurement is 1,250 ARB, whereas greater than 4,400 addresses can declare 10,250 ARB.
Meanwhile, some customers have complained that they had been excluded from the airdrop regardless of assembly the criterion.
BeInCrypto has reached out to firm or particular person concerned within the story to get an official assertion in regards to the latest developments, however it has but to listen to again.