The hype over Arbitrum's airdrop brought down the project's website

The hype over Arbitrum's airdrop brought down the project's website

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Author: Robert Strickland (crypto expert)
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The hype over Arbitrum's airdrop brought down the project's website
Already 278 million ARBs have been requested. Developers reminded that getting tokens will be available for six months

A frenzy during the Arbitrum token distribution (ARB) has brought down the Arbitrum Foundation project website. the site has started to load but is working with delays. The developers reminded us that receiving tokens will be available for six months.

Recipients of the long-awaited Arbitrum airdrop started applying for tokens on March 23, which give them the power to participate in the DAO controlling the Arbitrum One and Arbitrum Nova networks.

 


Arbitrum is expected to issue 1.16 billion ARBs to network users, 11.6% of the total supply of 10 billion tokens. Another 113 million will be available to obtain tokens already existing in the DAO ecosystem. According to the analytics platform Dune, 278.7 million ARBs have already been requested.

Meanwhile, Arbitrum has begun trading on cryptocurrency exchanges. Binance, which previously announced the start of trading at 8 p.m. Moscow time, said it would open two hours earlier.

According to CoinGecko, ARB is already trading on KuCoin, Gate.io, BitFinex, OKX, Bitget, Bybit, Huobi, MEXC, Kraken, Bitrue as well as Uniswap and Sushiswap on Arbirtum One.

On some exchanges, the token's price reached $50 at the moment, but the average maximum rate since the beginning of trading was $8.67. then it fell to $1.24, showing a decrease of 75.5% from the starting price of $5. The volume of ARB trading exceeded $216 million in less than two hours.

 

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