Binance and Four Other Crypto Exchanges Announced the Imminent Listing of the Arbitrum Token

Binance and Four Other Crypto Exchanges Announced the Imminent Listing of the Arbitrum Token

Binance and four other exchanges announced the listing of the native token of the Arbitrum project and the start of trading after the airdrop planned by the developers on March 23. On the largest crypto exchange, Arbitrum (ARB) spot trading will be available in pairs with Bitcoin and Tether (USDT). In addition, the exchange will add the new token as a leveraged asset for the ARB/USDT margined pair in the next 48 hours.

The asset will also become available for trading on the OKX, Bybit, Hotbit and MEXC Global platforms. Earlier, the listing of ARB after its distribution was announced by the Huobi exchange.

Arbitrum is one of the leading Layer 2 (L2) protocols on the Ethereum blockchain. On March 16, it became known that on the 23rd, the creators of Arbitrum will distribute ARB tokens to community members who have used the network over the past year. A total of 10 billion ARB tokens will be issued. 11.62% will be transferred to users of the protocol, 1.13% – DAO in the Arbitrum ecosystem. 42.78% will go to the Treasury, the remaining 44.47% will go to investors and employees of Offchain Labs.

In anticipation of the Arbitrum airdrop, some platforms opened derivatives markets based on this asset for traders, despite the fact that the announcement of the distribution of tokens does not guarantee 100% successful implementation.

BitMEX has introduced its own ARB token futures product, offering up to 20x leverage. In the announcement, the exchange team warned that trading in the token itself has not yet begun, and the product listed on the exchange is “a highly speculative asset.”

At the time of writing, ARB futures are trading on BitMEX at around $1.30. On the Hotbit exchange, which launched trading in the IOU ARB (Arbitrum) futures product against USDT on March 16, its price fluctuates around $13.

In social networks, users also write that in thematic channels in Telegram and Discord, during over-the-counter transactions (OTC), Arbitrum users sell tokens that they will have to receive during the airdrop, at a price of $1 to $8 apiece.

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