Airdrop

Arbitrum Airdrop Unclaimed Tokens: 70 Million ARB Now Transferred To DAO Treasury

Key Points:

  • 69,448,385 unclaimed ARB tokens worth $56.54M transferred to the DAO treasury.
The Arbitrum airdrop unclaimed tokens have been successfully claimed with an unclaimed amount of 69,448,385 ARB ($56.54M) transferred from the airdrop contract to the DAO treasury.

The Arbitrum airdrop has been claimed at Ethereum block 18208000. Just 30 minutes ago, an astonishing 69,448,385 ARB tokens, equivalent to $56.54 million, were transferred from the airdrop contract to the DAO treasury.

At the time of writing, Coinmarketcap reports that the price of ARB is trading at $0.81. Six months ago, CoinCu reported that on March 23, Arbitrum distributed its governance token with the ticker ARB to its community members, a significant step towards complete decentralization.

Technical Issues and Sell-Off

The ARB token’s release and airdrop were highly anticipated, but the launch faced an issue during the first hour. Arbitrum’s official airdrop page experienced problems as a surge of users attempted to claim their tokens simultaneously.

Some persevering users resorted to alternate methods like Arbiscan. With a substantial number of Arbitrum tokens airdropped, a massive sell-off of ARB tokens ensued shortly after the successful token unlock.

ARB’s value plummeted from over $10.29 to as low as $1 on the Kucoin platform. Similarly, on ByBit, the cryptocurrency started trading at $7.50 but quickly dropped to $1.5 within minutes.

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.

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.

Recent Posts

Qubetics, Cosmos, and Chainlink: Why These Cryptos Are Your Best Bet for November 2024

Discover why Qubetics, Cosmos, and Chainlink are the best cryptos to buy in November 2024.…

2 hours ago

Best Cryptos to Buy in December 2024: Qubetics Presale Goes Ballistic as Ethereum and Quant Look to Build Momentum

Best Cryptos to Buy in December 2024: Qubetics ($TICS) presale explodes, Ethereum (ETH) eyes a…

5 hours ago

USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products

Palo Alto, California, 21st November 2024, Chainwire

7 hours ago

Best Cryptos to Buy: Qubetics Set to Rise, Bitcoin Knocks at $100k Milestone, Avalanche to Release 1.67M Tokens

Best Cryptos to Buy: Qubetics presale rockets ahead, Bitcoin nears $100k, and Avalanche prepares to…

8 hours ago

Ike Goes Live on Mainnet: Unlocking Liquid Staking on Aleph Zero

London, United Kingdom, 21st November 2024, Chainwire

8 hours ago

Native USDC on Aptos Coming Soon to Boost DeFi and P2P Transactions

The move will see developers utilize USDC on Aptos in creating dApps on a wide…

8 hours ago

This website uses cookies.