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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.
STORY CONTINUES BELOW
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.
Oliver Knight
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
