After the Arbitrum token airdrop, ARB has become a top 40 cryptocurrency as it currently has the 37th largest market valuation out of over 23,000 listed digital coins. Currently, there is a circulating supply of 1,275,000,000 ARB, and the Arbitrum Foundation DAO Treasury owns 3.52 million or 35.27% of the airdropped supply. During the trading sessions of the previous day, ARB is down 9.8% against the US dollar.
Top Ten ARB Addresses Hold 94.41% of Current Circulating Supply
According to statistics recorded on Saturday, March 25, 2023, Arbitrum’s native governance token, ARB, is now the 37th largest cryptocurrency by market capitalization. The governance token for the layer two Ethereum scaling project has a higher market valuation than Optimism’s governance token OP, which is the 66th largest by market cap on Saturday.
ARB’s overall market valuation is $1.58 billion and 24-hour trade statistics show a range of $1.19 to $1.39 per ARB unit over the past day. Data from Dune Analytics indicates that 968.71 million of the 1.275 million ARB tokens have been claimed so far, representing 83.4% of the tokens claimable as of March 25.
Currently, there are 247,700 unique ARB holders, with the top ten addresses holding 94.41% of ARBs outstanding. The Arbitrum Foundation DAO Treasury owns approximately 3.52 million ARBs, and the second largest address owns 2.69 million ARBs.
Exchanges that hold a significant number of ARBs include Bybit, Kucoin, Mexc Global, and Bitget, as all four exchanges have addresses within the top 25 ARB holders. Two days ago, on March 23, ARB hit an all-time high and an all-time low on the same day.
The current price is 89% lower than the all-time high of $11.80 per unit and 12.9% higher than the all-time low of $1.10 per ARB. ARB trading volume has increased significantly over the past two days, with $1.738 billion in ARB trades settled over the last 24 hours.
The five most active cryptocurrency exchanges in terms of ARB trading volume include Binance, Bitget, Okx, Uniswap (Arbitrum version) and Gate.io.
What do you think the future holds for Arbitrum’s ARB Governance Token? Let us know in the comments section.
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