Community hopes run high as Ethereum (ETH) layer-2 network Arbitrum is set to airdrop its tokens to users next week, with IOU versions listed on little-known exchanges HotBit and XT.com starting at $10 pushed up.
According to CoinMarketCap data, the ARB IOU traded as high as $10.30 on March 17, but declined to $9.5 at the time of writing. While the current price of the IOU token may not reflect the value of the asset at launch, it does reflect the level of interest surrounding the token.
The IOU asset price performance has attracted a lot of community speculation, with many showing more optimism about the asset.
Jason Choi, an investor at the crypto investment fund Tangent, Said ARB IOU token valuation puts it at “$100B FDV, making it the third most valuable crypto asset.” However, he added that he does not think “Hotbit IOUs are credible.”
Another crypto trader Ziv approved That ARB hype could catapult the asset into the top 10 crypto assets by market capitalization. Other community members who share the same view believe that ARB will benefit from the current bull run of the crypto market.
Meanwhile, DeFi researcher Johannes mentioned That NFT marketplace Blur’s IOU token was trading at a very high valuation of $32 but dropped to around $0.8 at launch. Many others also predicted that the coin would drop in value at the time of launch.
Top Exchanges Announce ARB Listing
Top crypto exchanges like Huobi, MEXC, Bitrue and Bybit have Committed To list the Layer2 Scaling Solution token on March 23rd.
ByBit has revealed a trading pair for the token with two top stablecoins, USDT and USDC. The exchange also urged users to stake ARB tokens with its platform to earn more rewards.
Meanwhile, Huobi said it will begin processing withdrawals for the token from March 17 and will offer a trading pair in USDD and USDT. MEXC Global revealed that the ARB will be listed in its innovation sector
Nansense says more than 600,000 addresses eligible for ARB airdrop
blockchain analytical firm Nansen Said 625,143 addresses are eligible for the ARB token airdrop. The firm said that the average airdrop size is 1,250 ARB, while more than 4,400 addresses can claim 10,250 ARB.
Meanwhile, some users have Complained that they were left out Airdropped even if it met the criteria.
disclaimer
BeInCrypto has reached out to the company or individual involved in the story for an official statement regarding the recent developments, but has not yet received a response.