Arbitrum’s ARB Token to Start Trading On 23 March! Here’s How You Can Profit from the Launch
The post Arbitrum’s ARB Token to Start Trading On 23 March! Here’s How You Can Profit from the Launch appeared first on Coinpedia Fintech News
The eyes of the crypto market are currently on Arbitrum as it seeks to revolutionize the industry in the upcoming days. Arbitrum’s highly anticipated ARB token is set to start trading on 23rd March, so the buzz around this launch is palpable. Furthermore, as an innovative Layer 2 scaling solution for Ethereum, Arbitrum has garnered significant attention within the crypto community. Hence, investors are eagerly waiting for the launch to make significant profits with the ongoing hype.
Is ARB Token’s Launch a Big Deal?
As the popularity of Ethereum and DeFi applications continues to grow, the demand for Layer 2 solutions like Arbitrum is also rising. With its innovative technology and ability to significantly improve Ethereum’s performance, the ARB token launch is poised to attract considerable interest from the crypto community.
With Arbitrum’s potential to revolutionize Ethereum’s scalability and reduce transaction fees, early adopters of the ARB token could reap the rewards of the platform’s success. With Thursday’s claim event looming, both centralized and decentralized exchanges are launching derivative markets for the Arbitrum (ARB) token.
The decentralized platform, Clober, now offers traders the opportunity to purchase put options on ARB at strike prices ranging from 50 cents to $16. Since their introduction, these options have generated over $50,000 in trading volumes over the past 24 hours, hinting at the market’s craze on the ARB token’s launch.
Here’s How Traders Can Profit on the Launch Day
As the countdown to the Arbitrum (ARB) token launch on 23 March draws closer, traders eagerly anticipate the potential profit opportunities. Traders are looking to capitalize on the hype surrounding the ARB launch by taking advantage of the potential price volatility that often accompanies such events.
A well-known crypto analyst, Mac, outlined certain points which will take place on ARB token’s launch day:
- On the day of the ARB launch, there may be a significant decrease in liquidity for other altcoins on major centralized exchanges (CEX). As a result, it may not be advisable to hold long positions in other altcoins during the launch.
- ARB token’s price may follow a similar pattern to that of BLUR and UNI. Market-makers and airdrop claimers may tend to sell their tokens, resulting in a temporary price decrease. Once the airdrop claim rate reaches around 60-80%, investors may witness a bounce in the price.
- Following the initial price pump, there may be an extended distribution period before accumulation, and a significant price increase several weeks later can be observed.
The analyst further points out the opportunities for traders to make overwhelming profits on 23 March. According to him, a short-term price under $1 for the ARB token is ideal. The analyst advises closely monitoring the market and analyzing the airdrop claim rate using the Dune dashboard.
Once the claim rate reaches around 60%, traders can start purchasing tokens. Following the launch, an initial price pump will likely only last a few days at most. Hence, it is better to sell during this pump to capitalize on any short-term gains.
Text source: Coinpedia – Fintech & Cryptocurreny News Media| Cr
