From the Tokenlon Team
Did you manage to buy or sell $ARB upon claiming using our pre-trade feature? You can still trade $ARB on Tokenlon’s Limit Order now and get a share of 2000 $ARB until 29 March!
Arbitrum’s rocky but bullish airdrop
Arbitrum experienced a rocky start to its official ARB token airdrop, with the airdrop page crashing and users experiencing technical issues. However, despite the poor user experience, more than 42 million ARB tokens were claimed in the first hour, with 23,000 wallets participating.
The market witnessed a massive sell-off of the token in the first two hours after listing, with the price declining from over $10.29 to lows of $1.
Despite the initial volatility, some traders remain bullish on the ARB token and its potential trajectory. As of writing, ARB trades at just over $1.30 on decentralized exchanges.
The spike in prices is a common occurrence in high profile airdrops like theis, which was why Tokenlon allowed users to pre-trade $ARB even before the airdrop claim went live.
Congratulations to the users who wanted to sell ahead of time and took advantage of our feature. For users looking to buy $ARB at a lower price, you can place a buy limit order on Tokenlon.
Bitcoin Dominance up
Bitcoin's dominance in the crypto market increased to 44.74%, the highest since June 2022. The price of BTC is up 28% over the past 7 days compared to 12.5% for ether.
The recent banking crisis might have driven bullish sentiment, with many reassessing risk after realizing uninsured bank deposits were not safe. The rally appears to be related to people looking for alternatives to the fractional reserve banking system. The 7-day moving average for daily bitcoin spot volumes reached a new high since May 2021, indicating an increase in trading volume.
Do Kwon has been arrested
Do Kwon, founder of Terraform Labs, has been charged with criminal fraud by federal prosecutors in New York. This comes after he was arrested earlier on Thursday in Montenegro, where he was found with falsified documents.
Kwon already faced civil charges filed by the SEC in February, which accused him of misleading investors. He is also being investigated in South Korea and is on an Interpol wanted list in connection with last year's UST collapse.
The complaint alleges that Kwon made false statements and engaged in market manipulation, and sought help from a US trading and investment firm to alter the market price of UST. The Department of Justice are looking to extradite him to the US.
Tokenlon Product & Community
- You can now trade ARB using Tokenlon limit order
- Mainnet limit order trading leaderboard developed and awaiting testing; start date to be announced
- Nitro monthly campaign has begun - join our Discord and stand a chance to claim a free monthly Nitro subscription
- Arbitrum trading campaign is ongoing; successfully execute $ARB limit order trade pairs and share from a reward pool of 2000 $ARB
- Liquid Staking Derivatives article ready
- Token Unlocks $LON listing in talks
- $ARB/$ID listed
Tokenlon & LON Weekly Statistics
Important Risk Warning
- LON token contract address:
- LON is Tokenlon’s native token, where holders will enjoy fee discounts and voting rights
- Beware of fake Tokenlon imitations, the official website is: https://tokenlon.im
- Please do not download any app or DApp from non-official Telegram, Whatsapp, Facebook, or Wechat
Digital Assets are highly volatile and unpredictable. Please do your research before trading.