New Listing: ARB USDT-margined Perpetual Futures
We are excited to announce that we have listed the most talked-about crypto ARB (Arbitrum) on BTCC. Users can now trade ARBUSDT perpetual futures with up to 50x leverage on our app and web.
Below is a table showing the contract specifications of this round of product addition.
ARB (Arbitrum)—Secure scaling for Ethereum
What is ARB?
- Arbitrum is an Ethereum layer-two scaling solution, using optimistic rollups (which rely on off-chain computation) to enable faster transaction speeds and lower costs for interacting with decentralized applications (dApps).
- There are two Arbitrum chains, namely Arbitrum One and Arbitrum Nova, which cater to different use cases. Currently, major applications are housed on Arbitrum One. As for Arbitrum Nova, it is used to support high-volume applications such as gaming and social.
- The native token of Arbitrum is ARB, which has a total token supply of 10 billion and a circulating supply of 1.27 billion as of 27 March 2023. The ARB token is used for governance, enabling token holders to vote on proposals regarding the future of the Arbitrum One and Arbitrum Nova chains.
Current momentum & future trend
- ARB ranks 38th on CoinMarketCap, with a market capitalisation of $1.4 billion.
- The token made its market debut last Thursday, 23 March. The highly-anticipated airdrop event went live on the same day, and more than 42 million ARB tokens were claimed to 23,000 individual wallets within the first hour.
- When ARB was first launched, it started trading at the $11.1 level. However, like any other new coins, the surge subsided, and ARB’s price nosedived from its highest point last week after the airdrop event. As of 28 March, the coin is trading at the $1.2 level, recording an -8.56% price change in 24 hours.
- According to an analysis, ARB will likely continue falling to the $1 support level before resuming its bullish trend, as many insiders and holders sell some of their tokens post-launch. Not sure if you should go long or short on ARB? Monitor its price with our market widget.
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