When major exchanges list ARB, the Arbitrum IOU Token trades at $10
In Short
- Arbitrum IOU token is trading for around $10 on several smaller exchanges.
- ByBit and Huobi, among other significant exchanges, declared they would list ARB by March 23.
- More than 600,000 addresses, according to blockchain analysis company Nansen, were qualified for the airdrop.
Community expectations have increased as a result of Ethereum (ETH) layer-2 network Arbitrum’s planned token airdrop to users the next week. As a result, an IOU version has climbed to above $10 on obscure exchanges HotBit and XT.com.
ARB IOU reached a high of $10.30 on March 17 but is currently trading at $9.5, according to data from CoinMarketCap. The IOU token’s current price may not accurately reflect the asset’s value at launch, but it does demonstrate the level of interest in the token.
Community Speculates on ARB’s Value
The price performance of the IOU asset has sparked a number of rumors throughout the community, many of which are more positive than before about the asset.
According to Tangent investor Jason Choi, the ARB IOU token is valued at $100 billion, making it the third most valuable cryptocurrency asset. But he continued, “I don’t think Hotbit IOUs are reliable.”
ARB excitement, according to another cryptocurrency trader Ziv, may propel the asset into the top ten crypto assets by market cap. Others in the community who hold the same opinion think ARB would benefit from the current bull run in the cryptocurrency market.
The IOU token of NFT marketplace Blur, which traded at a much higher valuation of $32, dropped to about $0.8 at launch, according to DeFi researcher Johannes. Others predicted that the token’s value would plummet at launch as well.
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Top Exchanges Announce ARB Listing
The layer2 scaling solution token will go live on March 23 on popular crypto exchanges like Huobi, MEXC, Bitrue, and ByBit.
A trading pair of the token with the two most popular stablecoins, USDT and USDC, was disclosed by ByBit. In order to increase their chances of winning, the exchange also urged users to stake ARB tokens on its system.
Huobi announced that it would begin processing token withdrawals on March 17 and provide a trading pair in USDD and USDT. ARB will be listed in MEXC Global’s Innovation Zone, the company said.
Nansens Says Over 600,000 Addresses Eligible For ARB Airdrop
According to blockchain analysis company Nansen, the ARB token airdrop is open to 625,143 addresses. The company added that the average airdrop size is 1,250 ARB, and addresses with more than 4,400 can each receive 10,250 ARB.
Meanwhile, some users have complained that they were excluded from the airdrop despite meeting the criterion.
