ARB Token Airdrop Ranks Arbitrum 37th In The Top Cryptocurrencies
Arbitrum’s native governance token, ARB, has recently made waves in the crypto world. After the token airdrop, ARB has become 37th among the top cryptocurrencies, with a market valuation of $1.50 billion. The current circulating supply of ARB sits at a staggering 1,275,000,000, with the Arbitrum Foundation’s DAO Treasury holding roughly 3.52 million ARB.
It’s worth noting that the top ten addresses hold 94% of the ARB in circulation, while there are 247,700 unique ARB holders, which may raise concerns among some investors. However, it’s not uncommon for small individuals or organizations to hold a significant portion of a cryptocurrency’s supply. In fact, many cryptocurrencies have a similar distribution pattern, with the top holders controlling a large percentage of the supply. Exchanges like Bybit, Kucoin, Mexc Global, and Bitget have been identified as holding significant amounts of ARB. This may indicate that these exchanges are bullish on the token.