ARB, the local coin of Arbitrum, one of the highly anticipated and long-awaited coin projects of the crypto money market, was finally launched today, although it faced many obstacles. With the launch, the altcoin project, which many investors have been eagerly awaiting, faced a massive Whale selloff, dropping roughly 90 percent from its initial value! Here are the details…
The much anticipated altcoin project Arbitrum (ARB) has come to life!
Arbitrum IOU (ARB), which was launched during the day, came to life at the height of 16,890,400 Ethereum block. In Arbitrum, one of Ethereum’s most popular layer-2 solutions, investors started to claim the ARBs they deserve from the airdrop. With the users entering the website to claim their rights, the website, which could not handle the traffic volume due to the high demand on the website of the platform, collapsed. Users who wanted to enter the website encountered such a screen;
The airdrop provided by the project contains 1.16 billion ARB coins, which is 11.6% of the entire supply of the 10 billion coins minted. It also gave some decentralized DAOs operating within the Arbitrum network the right to claim an additional 113 million coins. On the other hand, Arbitrum (ARB) price went live on several exchanges after the launch. Rising to $11-12 on popular cryptocurrency exchanges Huobi and Kucoin, the altcoin project has been subject to extreme volatility as only 16 percent of the total supply is demanded and only a few crypto exchanges drive the overall trading volume.
The selling move from the whales caused a crash in the price of the altcoin project!
It is reported that Arbitrum IOU (ARB) coins provided a trading volume of close to $ 8 million in the previous 24-hour period and rose to the ATH level of $ 14 on March 19. However, after the first airdrop, ARB faced a bulk sell-off that resulted in an almost 90 percent drop in price. Prominent cryptocurrency whales sold the popular altcoin project, allowing it to fall as low as $1.15.
As we have quoted as Kriptokoin.com, ARB coin is instantly listed on Uniswap, KuCoin, OKX and Bybit exchanges. With the addition of Binance among these exchanges during the day, the coin listed on many exchanges has lost 88% in the last 24 hours. Instantly, the project is trading at $1.32. On the other hand, for the altcoin, which has attracted great interest, many experts state that Arbitrum can make a good development with the support of many investors in the near future.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.