Arbitrum Coin: Ushering in a New Wave of High-Performance Blockchain in 2024

Arbitrum Coin
Arbitrum Coin

Arbitrum Coin: You may have heard of the crypto coin Arbitrum. But what exactly is ARB? Arbitrum, created by Offchain Labs, processes transactions off the main Ethereum blockchain while using its security to overcome the drawbacks of the Ethereum network, including high gas costs and sluggish transaction rates.

Arbitrum has the goal of improving the network’s scalability, speed, and cost-effectiveness while preserving Ethereum’s security and compatibility, ARB is a Layer 2 scaling solution for the Ethereum blockchain. It batches transactions, executes them off the main Ethereum chain, and stores the confirmation on the main chain with the help of optimistic rollups.

Main Features Of Arbitrum

  • Arbitrum can handle a significantly higher number of transactions per second (TPS) than Ethereum’s Layer 1.
  • Arbitrum relieves surplus on the Ethereum mainnet by shifting the majority of transaction processing off-chain.
  • Arbitrum uses optimistic rollups to maintain security and decentralization, a mechanism that assumes transactions are valid by default and only searches for fraud in the case of a disagreement.
  • Transactions on Arbitrum incur substantially lower gas fees than those on the Ethereum mainnet

Tokenomics

The ARB token governance model prioritizes decentralized decision-making, predictable monetary policy, and tight collaboration with the Arbitrum ecosystem, distinguishing it from other blockchain projects and demonstrating ARB dedication to user empowerment and network stability.

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Token Allocation

  • Offchain Labs Investors: 17.53% (1.753 billion tokens)
  • DAOs within the Arbitrum Ecosystem: 1.13% (113 million tokens)
  • Arbitrum Platform Users: 11.62% (1.162 billion tokens)
  • Arbitrum DAO Treasury: 42.78% (4.278 billion tokens)
  • Offchain Labs Team, Future Team, and Advisors: 26.94% (2.694 billion tokens)

Token Distribution

On March 23, 2023, a massive 12.75% of the total $ARB token supply was airdropped, with consumers receiving 11.62% and DAOs receiving 1.13%.

Token Utility

The ARB token focuses on governance inside the ARB ecosystem, allowing holders to participate in decision-making processes that define the network’s future. 

Total Supply

The initial total supply of ARB tokens is 10 billion, with an annual inflation rate capped at a maximum of 2%.

Price Analysis

As of 27 May 2024, the price of ARB is $1.25 with a 24-hour trading volume of $827,710,470.08. Arbitrum has a current market cap of $3,219,763,021, ranking it among the top cryptocurrencies. ARB

has a circulating supply of around 2.65 billion, and the total supply of ARB is exactly 10 billion.

Arbitrum (ARB) boasts a fully diluted market cap of around $12.4 billion, rivaling even the big multi-billion dollar companies. On Jan 12, 2024, ARB peaked at $2.40 which became its all-time high. On Sept 12, 2023, ARB had its all-time low when the price fell to $0.7453.

Price Prediction

Price Prediction For 2024: Although predicting the price of a cryptocurrency in the future is an uphill task, ARB price is expected to fall to a low of $3.79 by 2024, with an optimistic prognosis of $1.2709 to $1.7184. The token’s price might approach $3 shortly.

Long-Term Price Prediction:  Looking forward, Arbitrum’s price is likely to continue rising:

2025: $4 (bullish) and $0.5 (bearish).

2026: $4.5 (bullish) and $0.4 (bearish).

2027: $5.2 (bullish) and $0.3 (bearish).

2028: $6.7 (bullish) and $0.2 (bearish).

2029: $7.5 (bullish) and $0.1 (bearish).

2030: $8.5 (bullish) and $0.09 (bearish).

Exchange Listings

Arbitrum (ARB) can be bought, sold, or traded on the following exchanges:

ExchangePEPE Trading PairsPEPE 24-Hour VolumeARB Trading PairsARB 24-Hour Volume
BinancePEPE/USDT, PEPE/BUSD, PEPE/BTCNot specifiedARB/USDT, ARB/TRY, ARB/BTCNot specified
KuCoinNot specifiedARB/USDTNot specified
BybitPEPE/USDTNot specifiedARB/USDT, ARB/USDCNot specified
OKXPEPE/USDTNot specifiedARB/USDTNot specified
Gate.ioPEPE/USDT$59,029,177.85
MEXC GlobalPEPE/USDTNot specified
Binance USNot specified
Crypto.com ExchangeNot specified
AscendEXNot specified
IndodaxPEPE/IDRNot specified
HotbitPEPE/USDTNot specified
Crypto.comNot specified
HuobiPEPE/USDTNot specified
PoloniexPEPE/USDTNot specified
MercatoxNot specified
IndoexNot specified
YoBitNot specified
BingXNot specified
BitruePEPE/USDTNot specified
BitmartPEPE/USDTNot specified
BitgetPEPE/USDTNot specifiedARB/USDTNot specified
DigifinexPEPE/USDTNot specified
LBankPEPE/USDTNot specified
Probit GlobalPEPE/USDTNot specified
BkexPEPE/USDTNot specified
BitbnsPEPE/INRNot specified
BithumbPEPE/KRWNot specified
UpbitPEPE/KRWNot specified
CoinonePEPE/KRWNot specified
KrakenNot specified
BitstampNot specified
GeminiNot specified
Matcha (DEX aggregator)Not specified
ODOS.xyzNot specified
LI.FI (DEX aggregator)Not specified
Trader Joe (DEX)Not specified
Syndr (derivatives)Not specified
iCrosschainNot specified
Jumper.Exchange (bridge aggregator)Not specified
StealthEXNot specified

The top three exchanges in terms of ARB trade volume are Binance, OKX, and Bybit, with Binance having the largest volume. ARB can be exchanged for fiat currencies such as TRY and Bitcoin, as well as stablecoins like USDT and USDC.

Road Map

There are several main points in the road for Arbitrum. They also include many main milestones.

Arbitrum Steam-941 Protocol Development and Testing: The development and testing of the Arbitrum Steam-941 protocol, aimed at enhancing the capabilities of the Arbitrum ecosystem.

Arb Steam-941 Weird Beast Launch: The launch of Arb Steam-941 Weird Beast, indicates a significant protocol upgrade or deployment within the Arbitrum network.

Arb941 Displacement Aggregation Model: Introduction of the Arb941 Displacement Aggregation Model, which could involve innovative approaches to data aggregation or processing within the Arbitrum ecosystem.

Coinbase Listing Arbitrum Token ARB: Coinbase adding the Arbitrum token ARB to its listing roadmap, indicating increased accessibility and exposure for the ARB token.

 Milestones

  • 1 Million Daily Transactions by Q2 2024.
  • Top 10 Layer 2 Solution by Total Value Locked (TVL) by Q3 2024.
  • Establishment of Arbitrum DAO by Q3 2024.
  • Integration with 20+ Major DeFi Protocols by Q4 2024.
  • Global User Base of 5 Million by Q4 2024.

The ARB roadmap lays out a thorough strategy for improving the network’s usability, security, and scalability while also fostering ecosystem development and worldwide adoption. ARB goal is to strengthen its position as the industry’s leading Layer 2 solution by concentrating on continuous innovation and tactical alliances.

Recent Events For Arbitrum

ARB hosted an AMA on X with the Bedrock team on May 17th at 9:00 UTC. The discussion revolved around their multi-asset liquid restaking protocol.

ARB hosted an AMA on X with Citizend, a community-led launch platform. The event was scheduled to take place on May 17th at 3:00 PM UTC. The focus of the session was on the operations and initiatives of Citizend.

ARB hosted an AMA on X on the gaming development program proposal. The event was scheduled to take place on May 8th, at 7:00 pm UTC.

Final Thought’s

Offchain Labs, a development company based in New York, is working on ARB. The company’s founders are Ed Felten, Steven Goldfeder, and Harry Kalodner, all former Princeton University scholars with extensive experience in blockchain, cryptography, and computer science.

Arbitrum does not use a centralized operator or sequencer to facilitate transactions. As an alternative, it employs a decentralized network of validators who stake ARB tokens in return for network security fees. 

Furthermore, Arbitrum has a robust network of partners, tools, wallets, and DApps, establishing it as one of the leading Ethereum scaling solutions. Keeping in view all this information, one can safely conclude that ARB is and will remain one of the few cryptocurrencies that boast an extensive roadmap and a notable background. However, one must always bear in mind that all investments must be made under the guidance of an expert.

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