Highly Anticipated Airdrop Makes Arbitrum's Daily Transaction Volumes to Soar

With the upcoming airdrop of Arbitrum native token ARB, an Ethereum Layer-2 scaling platform has witnessed a considerable uptick in activity.

On Wednesday, March 22nd, Arbiscan data revealed that the number of daily transactions on Arbitrum reached a record-breaking 1,312,052.

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This surpasses the previous high of 1,103,398 set on February 21st and compares to around 1.08 million transactions processed on the Ethereum mainnet.

Arbitrum's transaction count has increased by over 50% since the announcement of the token airdrop one week ago. The airdrop for the ARB token is set to start on March 23rd.

The top-tier scaling solution has gained more than 400,000 new users in the past two weeks, raising the total number of users to over 3 million, as indicated by @Henrystats' Arbitrum dashboard based on Dune Analytics.

It is believed that Arbitrum will distribute over 1 billion ARB tokens to nearly 625,000 wallets. The news was revealed by the research platform Delphi Digital which stated:

Arbitrum is decentralizing by launching its governance token ARB to transition towards self-executing DAO governance. 12.75% of its supply or 1.275 billion tokens will be distributed to Arbitrum community members and DAOs in the Arbitrum ecosystem.

Token airdrops, which entail the free distribution of tokens to community members, are a common strategy for fostering adoption. The ARB token will have a fixed total supply of 10 billion.

Current IOU (i owe you) market forecasts suggest that after the airdrop, the ARB token's trading price could be around $6.