{"id":528503,"date":"2023-04-25T15:00:19","date_gmt":"2023-04-25T15:00:19","guid":{"rendered":"https:\/\/wncen.com\/?p=528503"},"modified":"2024-06-11T14:35:44","modified_gmt":"2024-06-11T14:35:44","slug":"bullish-momentum-expected-for-arb-as-arbitrum-completes-dao-airdrop","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bullish-momentum-expected-for-arb-as-arbitrum-completes-dao-airdrop\/","title":{"rendered":"Bullish Momentum Expected For ARB As Arbitrum Completes DAO Airdrop"},"content":{"rendered":"<p class=\"p2\">The Arbitrum Foundation has just concluded its distribution of the ARB airdrop to decentralized autonomous organizations (DAOs) and it has triggered some positive expectations among the community.<\/p>\n<h2 class=\"p2\">DAOs Receive 90 Million ARB<\/h2>\n<p class=\"p2\">Following the 1 billion ARB distribution that went to the community, the Arbitrum Foundation has executed the second stage of its airdrop. On Monday, the foundation announced that it was commencing the airdrop distribution to DAOs.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-at-25000-or-30000-crypto-analyst-weighs-in\/?swcfpc=1\">Bitcoin At $25,000 Or $30,000? Crypto Analyst Weighs In<\/a><\/div>\n<p class=\"p2\">In total, over 90 million ARB were distributed to 125 DAOs with Treasure DAO receiving the highest allocation of the bunch. These tokens were sent out at a time when the price of the digital asset was trading around $1.32-$1.33, putting the fair value of the airdrops around $120 million. The Twitter thread below lists the 125 DAOs and how many tokens they received.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The list of <a href=\"https:\/\/twitter.com\/arbitrum?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@arbitrum<\/a>&#39;s DAOs Airdrop!!! \ud83d\udc40<\/p>\n<p>1.<a href=\"https:\/\/twitter.com\/Treasure_DAO?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@Treasure_DAO<\/a> &#8211; 8,000,000 <a href=\"https:\/\/twitter.com\/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ARB<\/a><br \/>2.<a href=\"https:\/\/twitter.com\/GMX_IO?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@GMX_IO<\/a> &#8211; 8,000,000 <a href=\"https:\/\/twitter.com\/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ARB<\/a><br \/>3.<a href=\"https:\/\/twitter.com\/Uniswap?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@Uniswap<\/a> &#8211; 4,378,188 <a href=\"https:\/\/twitter.com\/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ARB<\/a><br \/>4.<a href=\"https:\/\/twitter.com\/SushiSwap?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@SushiSwap<\/a> &#8211; 4,249,418 <a href=\"https:\/\/twitter.com\/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ARB<\/a><br \/>5.<a href=\"https:\/\/twitter.com\/dopex_io?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@dopex_io<\/a> &#8211; 3,863,107 <a href=\"https:\/\/twitter.com\/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ARB<\/a><br \/>6.<a href=\"https:\/\/twitter.com\/CurveFinance?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@CurveFinance<\/a> &#8211; 3,476,796 <a href=\"https:\/\/twitter.com\/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ARB<\/a><br \/>7.<a href=\"https:\/\/twitter.com\/RDNTCapital?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@RDNTCapital<\/a> &#8211; 3,348,026 <a href=\"https:\/\/twitter.com\/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ARB<\/a><\/p>\n<p>\ud83e\uddf5 1\/18 <a href=\"https:\/\/t.co\/dE5eDORWPL\" rel=\"nofollow\">pic.twitter.com\/dE5eDORWPL<\/a><\/p>\n<p>&mdash; ANDAO (\ud83d\udc99,\ud83e\udde1) \ud83e\udd87\ud83d\udd0a (@ArbitrumNewsDAO) <a href=\"https:\/\/twitter.com\/ArbitrumNewsDAO\/status\/78137344?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 21, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p2\">Following the airdrop, the price of ARB saw a slight uptick but this did not last long as the coin quickly resumed its downward trend. Its price briefly touched $1.35 in the early hours of Tuesday. However, as of the time of writing, it is back down to $1.31.<\/p>\n<h2 class=\"p2\">Arbitrum Still Has A Long Way To Go<\/h2>\n<p class=\"p2\">The ARB airdrop to DAOs has so far not had the effect on the price of the digital asset as expected, but that has not eliminated the bullish expectations for the cryptocurrency. Analyst Jack Niewold took to <a href=\"https:\/\/twitter.com\/JackNiewold\/status\/38091310?s=20\" rel=\"nofollow\">Twitter<\/a> to share that he expects ARB to flip the likes of XRP.<\/p>\n<p class=\"p2\">However, ARB is still trading sideways but this can also be attributed to the general market downtrend which has seen the majority of the market lose their gains from last week. If this slow momentum continues, then it is unlikely that ARB will meet the expectations for its price.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/u4fbo3Ji\/\" alt=\"Arbitrum (ARB) price chart from TradingView.com\" width=\"2854\" height=\"1724\"><\/p>\n<pre style=\"text-align: center\">ARB price continues downtrend after DAO airdrop | Source: <a href=\"http:\/\/TradingView.com\" rel=\"nofollow\">ARBUSD on TradingView.com<\/a><\/pre>\n<p class=\"p2\">On the bright side, Arbitrum is still showing strength volume-wise. It is currently the third-highest behind Ethereum and BSC in terms of volume, DefiLlama data shows. Additionally, where Ethereum\u2019s volumes have dropped over the last week by 2.53%, Arbitrum is up 11.74%.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/crypto\/losses-dominate-crypto-over-the-weekend-has-the-bear-market-returned\/?swcfpc=1\">Losses Dominate Crypto Over The Weekend, Has The Bear Market Returned?<\/a><\/div>\n<p class=\"p2\">ARB\u2019s trading volume has unfortunately seen a decline over the last 24 hours. The cryptocurrency saw trading volumes of $558.8 million, a 27.64% decline from the previous day\u2019s numbers. This shows a decline in interest for investors and has contributed to the downward trend that the token has experienced.<\/p>\n<p class=\"p2\">ARB\u2019s price also fell below $1.3 briefly on Tuesday before recovering to $1.31. At this current price, the coin is seeing meager gains of 0.46% on the 24-hour chart but is down a significant 25% on the 7-day chart.<\/p>\n<div class=\"disclaimer-shortcode\"><a href=\"https:\/\/twitter.com\/BestOwie\" rel=\"nofollow\">Follow Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from iCloud, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Arbitrum Foundation has just concluded its distribution of the ARB airdrop to decentralized autonomous organizations (DAOs) and it has triggered some positive expectations among the community. DAOs Receive 90 Million ARB Following the 1 billion ARB distribution that went to the community, the Arbitrum Foundation has executed the second stage of its airdrop. On Monday, the foundation announced that it was commencing the airdrop distribution to DAOs. Related Reading: Bitcoin At $25,000 Or $30,000? Crypto Analyst Weighs In In total, over 90 million ARB were distributed to 125 DAOs with Treasure DAO receiving the highest allocation of the bunch. These tokens were sent out at a time when the price of the digital asset was trading around $1.32-$1.33, putting the fair value of the airdrops around $120 million. The Twitter thread below lists the 125 DAOs and how many tokens they received. The list of @arbitrum&#39;s DAOs Airdrop!!! \ud83d\udc40 1.@Treasure_DAO &#8211; 8,000,000 $ARB2.@GMX_IO &#8211; 8,000,000 $ARB3.@Uniswap &#8211; 4,378,188 $ARB4.@SushiSwap &#8211; 4,249,418 $ARB5.@dopex_io &#8211; 3,863,107 $ARB6.@CurveFinance &#8211; 3,476,796 $ARB7.@RDNTCapital &#8211; 3,348,026 $ARB \ud83e\uddf5 1\/18 pic.twitter.com\/dE5eDORWPL &mdash; ANDAO (\ud83d\udc99,\ud83e\udde1) \ud83e\udd87\ud83d\udd0a (@ArbitrumNewsDAO) March 21, 2023 Following the airdrop, the price of ARB saw a slight uptick but this did not last long as the coin quickly resumed its downward trend. Its price briefly touched $1.35 in the early hours of Tuesday. However, as of the time of writing, it is back down to $1.31. Arbitrum Still Has A Long Way To Go The ARB airdrop to DAOs has so far not had the effect on the price of the digital asset as expected, but that has not eliminated the bullish expectations for the cryptocurrency. Analyst Jack Niewold took to Twitter to share that he expects ARB to flip the likes of XRP. However, ARB is still trading sideways but this can also be attributed to the general market downtrend which has seen the majority of the market lose their gains from last week. If this slow momentum continues, then it is unlikely that ARB will meet the expectations for its price. ARB price continues downtrend after DAO airdrop | Source: ARBUSD on TradingView.com On the bright side, Arbitrum is still showing strength volume-wise. It is currently the third-highest behind Ethereum and BSC in terms of volume, DefiLlama data shows. Additionally, where Ethereum\u2019s volumes have dropped over the last week by 2.53%, Arbitrum is up 11.74%. Related Reading: Losses Dominate Crypto Over The Weekend, Has The Bear Market Returned? ARB\u2019s trading volume has unfortunately seen a decline over the last 24 hours. The cryptocurrency saw trading volumes of $558.8 million, a 27.64% decline from the previous day\u2019s numbers. This shows a decline in interest for investors and has contributed to the downward trend that the token has experienced. ARB\u2019s price also fell below $1.3 briefly on Tuesday before recovering to $1.31. At this current price, the coin is seeing meager gains of 0.46% on the 24-hour chart but is down a significant 25% on the 7-day chart. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026 Featured image from iCloud, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":528525,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[88023,88069,84309,88169,88120,88077],"class_list":["post-528503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-arb","tag-arb-price","tag-arbitrum","tag-arbitrum-foundation","tag-arbusd","tag-arbusdt"],"acf":[],"yoast_head":"\n<title>Bullish Momentum Expected For ARB As Arbitrum Completes DAO Airdrop<\/title>\n<meta name=\"description\" content=\"The Arbitrum Foundation has just concluded its distribution of the ARB airdrop to decentralized autonomous organizations (DAOs) and it has triggered some\" 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. 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With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. 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