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Arbitrum Airdrop Set to Launch Next Week

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Today’s Cryptocurrency Headline

On March 23rd, the Layer 2 project Arbitrum will airdrop its governance token, ARB, to community members. The airdrop will account for 12.75% of the total token supply and will be distributed to those who have used the network in the past year. The token will be used for governance of the Arbitrum One and Nova networks through a DAO that will have support from a security council. The total supply of ARB will be 10 billion tokens.

The airdrop will hand out 11.6% of the total supply to Arbitrum users, with an additional 1.1% to DAOs in the Arbitrum ecosystem and Protocol Guild, a DAO made up of Ethereum developers. A large portion of the supply — some 42.8% — will go to the Arbitrum Foundation, which will be under the control of the newly formed Arbitrum DAO.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin is up 5.85% over the last 24 hours and rose to an intraday high of $25895.75. The largest cryptocurrency surpassed the $25,000 mark at the beginning of the Asian trading session, indicating a strong buying interest from Asian traders. The 20-day massive exponent average ($23,166) has started to turn up, and the relative strength index (RSI) is in the positive territory, suggesting that buyers have an edge in the market. If the price remains above $25,000, the BTC/USDT pair may have the potential to surge to $30,000.


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