Arbitrum has experienced a surge in network activity recently, with a significant increase in the number of transactions and addresses.
The Arbitrum network processed over 1.3 million transactions on March 21, up from the previous day’s 1 million, according to Arbiscan data.
This surge began in January and accelerated after Arbitrum announced a massive airdrop of 1.27 billion $ARB tokens to users based on a February 26 snapshot, representing 12.75% of the token’s circulating supply.
Around 56% of the 10 billion tokens will be allocated to the community. The airdrop will distribute 112.8 million $ARB tokens distributed to various DAOs in its ecosystem.
This move aims to “empower the subcommunities” and encourage them to participate in governance decisions once the network fully transitions to a DAO. Several decentralized exchanges and other projects will also receive $ARB.
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Unique addresses on Arbitrum are increasing significantly – the total number has grown by almost 1.5 million since the start of the year, and Binance and Coinbase‘s announcements that they will support the upcoming $ARB token have further piqued interest.
Trading is expected to begin after the airdrop, and the current speculative value of $ARB is around $1, with expectations that it could trade around $6 following the airdrop. Some users are already selling wallets eligible for the airdrop.
cointelegraph.com
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