Arbitrum IOU Token Goes Mainstream on Major Exchanges, Hits $10

Key Points:

• Arbitrum is set to airdrop its tokens to users next week, causing a surge in community expectations and a rise in its IOU token’s price on little-known exchanges, HotBit and XT.com.
• Top crypto exchanges, including Huobi, MEXC, Bitrue, and ByBit, have committed to listing the layer-2 scaling solution token on March 23.
• 625,143 addresses are eligible for the ARB token airdrop, and the median airdrop size is 1,250 ARB, while more than 4,400 addresses can claim 10,250 ARB.

Arbitrum is set to airdrop its tokens to users next week, causing a surge in community expectations and a rise in its IOU token’s price on little-known exchanges, HotBit and XT.com.

According to CoinMarketCap data, ARB IOU traded for as high as $10.30 on March 17 but has fallen to $9.5 at the time of writing. While the IOU token’s current price might not reflect the asset’s value when it launches, it shows the level of interest surrounding the token.

Many members of the community speculate on ARB’s value, with some being more optimistic than others. An investor with crypto investment fund Tangent, Jason Choi, said the ARB IOU token valuation places it at “a $100B FDV, making it the third most valuable crypto asset.” However, he added that he does not “think Hotbit IOUs are reliable.” Meanwhile, DeFi researcher Johannes mentioned that NFT marketplace Blur’s IOU token traded at a much higher valuation of $32 but dropped to around $0.8 at launch.

Top crypto exchanges, including Huobi, MEXC, Bitrue, and ByBit, have committed to listing the layer-2 scaling solution token on March 23. ByBit revealed a trading pair of the token with the two top stablecoins, USDT and USDC, and urged users to stake ARB tokens with its platform to earn more rewards. Meanwhile, Huobi said it would start processing withdrawals for the token from March 17 and offer a trading pair in USDD and USDT. MEXC Global revealed that ARB would be listed in its Innovation Zone.

Blockchain analytical firm Nansen said 625,143 addresses are eligible for the ARB token airdrop, and the median airdrop size is 1,250 ARB, while more than 4,400 addresses can claim 10,250 ARB. However, some users have complained that they were excluded from the airdrop despite meeting the criterion.

ARB airdrop has generated a lot of excitement and speculation within the crypto community, with many eager to see how the token will perform once it launches.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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