Arbitrum Token Settles at $1.38 Amid Airdrop Claim Chaos

The Arbitrum claim website remains down almost an hour after the airdrop launched.

AccessTimeIconMar 23, 2023 at 1:54 p.m. UTC
Updated Mar 23, 2023 at 2:46 p.m. UTC

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.


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Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

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