There\u2019s a new layer-2 token in town, and it comes in the form of ARB, the Arbitrum network\u2019s newly announced token. It was airdropped on March 23rd, 2023, and is now listed on Mudrex, too, for you to invest. <\/p>\n\n\n\n
Fun fact- The ARbit (ARB)<\/a> token surged 2000% as traders confused it with Arbitrum\u2019s new token. That, folks, is why you should DYOR before jumping into an investment.<\/p>\n\n\n\n But what does Arbitrum do, and why did this airdrop receive all the hype? Let\u2019s take a closer look at it!<\/p>\n\n\n\n Arbitrum<\/a> is a layer-2 scaling solution built on the Ethereum<\/a> blockchain. It was developed by a New York-based firm, Offchain Labs, with the intention of solving the congestion problem on the Ethereum mainnet.<\/p>\n\n\n\n The Arbitrum network offloads transactions from the Ethereum mainnet and processes them. This allows for faster settlement times and better scalability on Ethereum. Transaction fees are also lower on the Arbitrum network compared to Ethereum.<\/p>\n\n\n\n On March 16th, Arbitrum announced the launch of its new native token called ARB<\/a>, which was airdropped to eligible users on March 23rd. The ARB token also acts as a governance token. Essentially, this means that all token holders can vote on decisions regarding the platform.<\/p>\n\n\n\n With the airdrop, 1.275 billion ARB tokens (12.75%) were released out of a total supply of 10 billion tokens. Of the 12.75%, individual user addresses received 11.6%, while other projects on Arbitrum are eligible for 1.1%.<\/p>\n\n\n\n If you are someone who missed the airdrop, you can invest in the ARB token on the Mudrex app from 24th March 18:00 UTC.<\/p>\n\n\n\n Following its launch, the ARB token began trading at just above $8 before falling steeply to its current price of $1.37 at the time of writing. A mad sell-off rush saw ETH<\/a> shortages on crypto bridges and server overloads. But during all this, the token\u2019s trading volume, which kicked off at $1.3 million at its $8.67 price point, ballooned dramatically to $2.7 billion. For reference, the ARB token\u2019s market cap is $1.7 billion.<\/p>\n\n\n\n This airdrop is bound to pique the bulls’ interest and cause an influx of liquidity into the crypto industry. While there’s no dearth of competition in the layer-2 blockchain game, Arbitrum’s an outright leader with over 55% of the market share. And it’s crushing the numbers game in more ways than one \u2014 daily transactions on Arbitrum outnumber those on Ethereum. What’s more? It beats Polygon by a mile in terms of TVL<\/a>. However, keep in mind that Arbitrum achieved these features long before the airdrop announcement.<\/p>\n","protected":false},"excerpt":{"rendered":" There\u2019s a new layer-2 token in town, and it comes in the form of ARB, the Arbitrum network\u2019s newly announced token. It was airdropped on March 23rd, 2023, and is now listed on Mudrex, too, for you to invest. Fun fact- The ARbit (ARB) token surged 2000% as traders confused it with Arbitrum\u2019s new token. […]<\/p>\n","protected":false},"author":3,"featured_media":66747,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","footnotes":""},"categories":[1082],"tags":[1145,2222,13],"_links":{"self":[{"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/posts\/66744"}],"collection":[{"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/comments?post=66744"}],"version-history":[{"count":3,"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/posts\/66744\/revisions"}],"predecessor-version":[{"id":68865,"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/posts\/66744\/revisions\/68865"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/media\/66747"}],"wp:attachment":[{"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/media?parent=66744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/categories?post=66744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/tags?post=66744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What Is Arbitrum?<\/h2>\n\n\n\n
The Arbitrum Airdrop<\/h2>\n\n\n\n
Where Can You Buy ARB?<\/h2>\n\n\n\n
ARB Market Action<\/h2>\n\n\n\n
A Leading Layer 2 Blockchain?<\/h2>\n\n\n\n