- Users will be able to buy and sell ARB on Binance starting Thursday.
- The ARB IOU token is trading at double digits.
- Some say ARB will be worth over $10, while others point to a more moderate price.
The Ethereum Layer-2 (L2) ecosystem will have a new token in a few days. The most popular L2 network Arbitrum announced last week that it’s launching its ARB token on March 23 and airdropping over 11% of the supply to Arbitrum’s users.
With less than three days left until the airdrop, crypto users have started speculating about the exact value ARB will have on its launch day. With Binance and other exchanges listing ARB, some predict that ARB will be worth $10, a number that would make ARB one of the most valuable cryptocurrencies in the market.
Binance to List ARB
Arbitrum users believe that ARB will be worth a substantial amount of money, especially after Binance, the world’s largest cryptocurrency exchange, announced on Monday that it will list ARB on its exchange on Thursday.
Other exchanges have already listed ARB-related products. For example, Hotbit launched an I Owe You (IOU) token, representing debt between two parties. At the time of writing, ARB IOU is trading at $9.98 with a 24-hour high of $14.
On top of that, BitMEX announced a futures ARB token on Sunday. However, ARB on BitMEX is trading much lower than on Hotbit. The token currently trades at $1.30, down almost 14% on the day from the high of $1.77.
However, while it seems impossible, some still argue that ARB will be worth double digits.
Can ARB Go to $10?
While most ARB price predictions point to a range of $.50 to $2, crypto enthusiasts on Twitter speculate that ARB can go to $10 or even more on launch day.
A Twitter user, Salazar, compared ARB to Polygon (MATIC) and Optimism (OP) – also Layer-2 tokens – and concluded that ARB might go to $15. Such a price would put ARB as one of the most valuable blockchains in the world.
However, other estimates are much more modest. For example, OlimpioCrypto estimates that the most ARB can be valued at launch is about $2.5, with $0.65 as a moderate price scenario.
Others, like ponz, agree that ARB will most likely be valued at around $1.
On the Flipside
- It’s still unclear what price ARB will be valued at launch. While ARB will most likely trade between $0.60 to $2.5, knowing the nature of crypto, it may break double digits.
- ARB will be a pure governance token with no other incentives.
Why You Should Care
Arbitrum is the largest and most used Ethereum Layer-2 scaling project. Its token launch is a huge milestone for the project and the Ethereum ecosystem. The upcoming ARB airdrop is set to be one of the most valuable – and exciting – airdrops of all time.
Read more about the Arbitrum airdrop:
Arbitrum Airdrop: Eligibility Announced for 11% Distribution to Early Users
Read more about Polygon co-founder leaving the company:
Sourced from dailycoin.com.
Written by on 2023-03-20 18:00:00.