Arbitrum Token Settles at $1.38 Amid Airdrop Claim Chaos
The Arbitrum claim website remains down almost an hour after the airdrop launched.
The Arbitrum token (ARB) is now trading at around $1.38 across centralized and decentralized exchanges after a turbulent launch.
There has been a total of $27 million in trading volume in the first hour since the claim opened, according to CoinGecko, which aggregates token prices from exchanges like Uniswap, Kucoin and Bybit.
The front end of the Arbitrum website, which is where the majority of users will claim tokens, remains down under heavy server load. Users can still claim their airdrop by executing a command directly with the smart contract.
Prices are expected to be volatile after the claim website comes back online.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.