The Arbitrum community is speculating and selling its unreleased ARB tokens on the over-the-counter (OTC) markets following the announcement of the Arbitrum airdrop.
The Arbitrum Foundation Announced that ARB, the new Arbritrum token, will be airdropped to eligible community members on Thursday, March 23. He explained that ARB brands Arbitrum's official transition to a decentralized autonomous organization (DAO), meaning ARB holders will be able to vote on key decisions governing Arbitrum One and Arbitrum Nova, networks that allow users to transact on the blockchain of Ethereum with better speeds and lower fees.
OTC trading allows you to easily buy and sell cryptocurrency directly between a seller and a buyer. The process is usually very fast and the funds are transferred directly from a bank account to the seller. In this case, when the buyer and seller agree on a price, the seller receives payment from the buyer and then gives up the seed phrase linked to the eligible wallet.
Jack, who wishes to remain anonymous, explained to Cointelegraph that the trend for selling the unreleased ARB tokens is based on speculation about the market capitalization of the tokens when they were launched. He explained that the price of an $ARB coin, when released, could be as high as $1, so most people don't mind selling at $0.5 per token and resulting in a possible $0.5 profit. for buyers.
have secured 6 figs of $ARB OTC at an average. price of $0.98
Wish me luck
โCole (@cole0x) March 21, 2023
Decision holds 55% of Ethereum's layer 2 market share, according to layer 2 analytics site L2 Beat. As one of the largest non-tokenized crypto projects, anticipation for an Arbitrum token has been at a fever pitch since the network went live in 2021.
Related: Decision Airdrop hype helps zkSync addresses multiply by 5 in a week
With a total ARB circulation number of 10 billion, the Arbitrum community will control 56% of those tokens; the airdrop will award 11.5% of the total supply to eligible Arbitrum users and 1.1% to DAOs operating in the Arbitrum ecosystem.
The Arbitrum community has also warned others to stay vigilant following reports of phishing websites and Scams Offering Arbitrum Airdrop Tokens.
Arbitrum's main competitor in the Ethereum scaling space, Optimism, launched its OP token almost a year ago as it made its own transition to DAO governance.
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