Why ARB Protocol Token Is Surging 170% Today

The Arbitrum ecosystem made a big splash last week, announcing the imminent launch of its native token ARB, which had been a subject of much speculation and anticipation.

What Happened: ARB Protocol’s native token, also called ARB ARB/USD, unrelated to Arbitrum surged 170%, triggered by an apparent name mix-up.

ARB Protocol’s token was trading at $0.0048 at the time of writing, outperforming major tokens including Bitcoin BTC/USD and Ethereum ETH/USD.

The upcoming AirDrop, slated for March 23, will distribute about 1.27 billion tokens to Arbitrum community members.

Marking Arbitrum’s transition to a fully decentralized autonomous organization (DAO), the launch of the governance token will enable holders to take part in meaningful decision-making across Arbitrum One and Arbitrum Nova networks.

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Binance on Sunday announced that it will list ARB and spot trading pairs will begin on Thursday, March 23. The withdrawals will commence starting March 24, the exchange said.

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Image and article originally from www.benzinga.com. Read the original article here.