A recent analysis has revealed a surge in transaction volume among Ethereum whales, coinciding with Arbitrum’s new token ARB announcement. This popular scaling solution has caused a stir in the market, prompting increased activity among savvy investors.
According to the analytical platform WhaleStats, there has been a significant surge in transaction volume among ETH whales. The data shows an impressive increase of nearly 120%, with a sudden jump from $185.7 million to $408.8 million.
On March 16, the Arbitrum Foundation formally announced via a post that the highly anticipated airdrop of $10 billion worth of ARB tokens would proceed as planned on March 23 and be distributed directly to the wallets of the community.
After the announcement, the Arbitrum Decentralized Exchange (DEX) experienced a significant surge in trading volume, soaring by nearly 32% and currently standing at an impressive $4.34 billion. This surge has propelled the DEX to a new two-week high, surpassing the trading volume of the leading platform BNB Chain.
According to reports, the surge in trading volume can be attributed to the amplified trading endeavors of the prominent market players, commonly called “whales,” in response to Arbitrum’s airdrop announcement. As anticipated by industry experts, there is a high likelihood of substantial liquidity influx following the airdrop.
On-chain analyst Miles Deutscher recently visited Twitter to share insights on the ARB token airdrop. According to Deutscher, this move is poised to catalyze the Arbitrum ecosystem, ultimately leading to an influx of liquidity. His astute observations shed light on the potential benefits of this strategic maneuver, highlighting the positive impact it could have on the broader blockchain community.
Offchain Labs’ CEO, Steven Goldfeder, emphasized the significance of decentralization as the most thrilling aspect of the platform’s latest development. He highlighted that the Offchain Labs team would relinquish all control over the chain’s future, marking a significant shift towards a more decentralized ecosystem.
