A free distribution of Arbitrum token (ARB) will take place this Thursday (23), but investors are already moving almost US$ 500 million to prepare for the event.
The ARB token will be native to the blockchain from Arbitrum. The objective is to bring the community closer to a decentralized voting system. That is, the token will be for governance, and will represent voting power in future network decisions.
According to the DeFiLlama website, the volume traded on the Arbitrum network in the last twenty-four hours is US$ 490 million. In the last seven days, this value is US$ 4.2 billion, an increase of 16.47% in the period.
The reason is that this type of release is often an opportunity for traders, who trade the crypto asset. As it is an Ethereum second layer network, the fees are cheap, and investors are already committing capital to the event.
For those who are not eligible, the acquisition will be for secondary market only.
The points have already been added up through a blockchain screenshot (snapshot) on February 6, and those eligible to receive are accounted for.
The sum of points before the distribution announcement is common in free token giveaways. This method is designed to be more “fair” to participants.
What will be the value of Arbitrum (ARB)?
The value of the token is defined by two main characteristics: the circulating supply, which makes up the market value, and the supply and demand for the cryptocurrency.
However, there are already speculations about the price of the cryptoactive. Data from CoinGecko, which gather derivatives trading, that is, futures contracts for the token that has not yet been launched, point to a range between US$ 1 and US$ 9.
The initial supply will be 10 billion ARB, 1.16 billion (11.62%) of which will be for eligible users. In addition, 4.2 billion (42.78%) will be allocated to the treasury of the Decentralized Autonomous Organization (DAO).
A binance, the largest crypto exchange, has already announced the listing of ARB at launch. The team behind the network reinforces that there will be no pre-sales, and any announcement related to this is a scam.
It is worth remembering that the competing network, Optimism (OP), launched its tokens last year. The token went to the market worth US$ 2 with a proposal similar to the Arbitrum token.
Source: Moneytimes
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