According to Lookonchain, a reputable on-chain tracker, Wintermute Trading, a prominent player in the crypto market, has reportedly acquired a whopping 40 million units of the highly anticipated ARB tokens from the upcoming Arbitrum network.
Lookonchain has recently shared two snapshots of blockchain data, revealing that Wintermute Trading has efficiently distributed ARB tokens to centralized and decentralized exchanges upon receipt. This demonstrates Wintermute Trading’s commitment to ensuring seamless and widespread access to ARB tokens, further solidifying its position as a reliable and trustworthy player in the blockchain industry.
Several leading cryptocurrency exchanges were involved in the recent transfers, including Binance, Bitfinex, OKX, Kraken, Bybit, KuCoin, and Huobi. According to the market tracker, these transfers were conducted to test the system and ensure a smooth official launch without glitches.
Binance, the leading cryptocurrency exchange, made a significant announcement on Monday. The platform has revealed that it will list the highly anticipated Arbitrum token on Thursday evening, with Bitcoin and USDT trading pairs available for users. Deposits for ARB will be accepted from 12:30 UTC, while withdrawals will be made available from Friday evening. This move is expected to generate much interest from the crypto community as Binance continues to expand its offerings and provide users with more opportunities to invest in the digital asset space.
ARB serves as the indigenous governance token of Arbitrum, a Layer two scaling solution designed for the Ethereum blockchain. This innovative platform also extends its support to other Ethereum-based applications. As per the official documentation, Arbitrum leverages Optimistic roll-up technology to consolidate transaction batches, thereby reducing gas fees.
As of March 23, 2023, the total ARB token supply stands at 10 billion, with a current circulating supply of 1.275 billion, accounting for a mere 12.75%. It’s worth noting that the circulating supply was recently airdropped to eligible users. The Arbitrum Foundation and its DAO are entrusted with gradually distributing the remaining community tokens.
