The recently airdropped token, ARB, which powers the Arbitrum Decentralized Autonomous Organization (DAO), experienced extreme volatility in trading on Thursday.
Arbitrum, the prominent layer-2 scaling solution on the Ethereum blockchain that offers fast and cheap transactions, officially became a DAO on Thursday after airdropping just over 1 billion of its ARB token to network users.
Arbitrum. Source: Adobe
According to TradingView, citing Kraken data, ARB/USD rallied as high at $9 per token before dumping as low as $1.10 within as little as one hour.
Prices reportedly reached as high as $14 per token on ByBit. #ARB #binance #coinbase #bybit #arbitrum
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